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6 Pages

Supply outages lead to tightening oil fundamentals


Supply outages lead to tightening oil fundamentals

Report summary

Several sources of global supply are at lower than usual levels so far this month and likely to remain so for much of September or even the fourth quarter. We estimate that including the increasing impact of sanctions against Iran, world oil supply is significantly less than in the second quarter of 2013. Meanwhile, this year's trend of oil demand growth continues with some upward revisions in our latest analysis. The losses in Libyan production, which we discussed at end-July, have worsened...

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  • Supply outages lead to tightening oil fundamentals PDF - 478.63 KB 6 Pages, 0 Tables, 3 Figures

Description

This Oil Markets Insight report highlights the key issues surrounding this topic, and draws out the implications for those involved.

For participants, suppliers and advisors who want to look at the trends, risks and issues of this topic, this report gives you an expert point of view to help inform your decision making.

Wood Mackenzie gives you an informed, independent view on oil prices and the key drivers and trends impacting the oil market. Our highly experienced macro analysts and regional sector teams are based in the key oil producing and consuming regions they analyse, providing detailed field data and demand forecasts driven by country and industry forecasts.

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  • Executive summary
  • Libya: Strikes cause a dramatic fall in the production of key export crudes
  • Iraq: Crude oil production falls
  • Syria: Output already out of the market
  • Global supply outages add up to around five million b/d
  • World oil demand shows moderate growth
  • Implications for oil prices

In this report there are 3 tables or charts, including:

  • Executive summary
  • Libya: Strikes cause a dramatic fall in the production of key export crudes
    • Chart 1: Libya's 2013 average monthly oil production by blend (‘000 b/d)
    • Map 1: Libyan refineries and export infrastructure
  • Iraq: Crude oil production falls
  • Syria: Output already out of the market
  • Global supply outages add up to around five million b/d
    • Map 2: Assessment of average third quarter 2013 supply losses
  • World oil demand shows moderate growth
  • Implications for oil prices
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