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Will OPEC sideline US producers by defeating tight oil?


Will OPEC sideline US producers by defeating tight oil?

Report summary

The trend of non-OPEC supply growth through 2020 is driven by US tight oil. Our forecast shows that gains in US production can be absorbed without overwhelming the global oil supply and demand balance.

What's included?

This report includes 2 file(s)

  • Will OPEC sideline US producers by defeating tight oil? PDF - 516.46 KB 7 Pages, 0 Tables, 7 Figures
  • SLIDES Will OPEC sideline US producers by defeating tight oil.pdf PDF - 3.69 MB

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
  • US oil production drives non-OPEC growth
  • Growth in OPEC supply to 2020 depends on Iraq
  • Supply outages support crude oil prices
  • Low oil prices would hinder US tight oil
  • Conclusion

In this report there are 7 tables or charts, including:

  • Executive Summary
  • US oil production drives non-OPEC growth
    • Chart 1: Year on year change in non-OPEC supply to 2020
    • Chart 2: US production shows strong gains due to tight oil
  • Growth in OPEC supply to 2020 depends on Iraq
    • Chart 3: Change in OPEC capacity from 2013 to 2020 in million b/d
    • Chart 4: Current Iraq crude oil capacity forecast compared with fourth quarter 2012
  • Supply outages support crude oil prices
    • Chart 5: Total Growth from 2013-2020
    • Chart 6: February 2014 supply outages compared to Q3 2013 supply outages
  • Low oil prices would hinder US tight oil
    • Chart 7: US tight oil new development volumes by breakeven in Brent terms
  • Conclusion
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