Insight
Global oil supply 10-year investment horizon outlook
This report is currently unavailable
*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
In our investment horizon outlook, global oil supply revisions are weighted to the downside, averaging around 1 million b/d over the forecast period to 2033. This is mainly driven by the impact of sanctions on Russia, which offsets upgrades to US Lower 48, Mexico, Kazakhstan and China. For OPEC, near term downgrades are focused on Nigeria and Iraq, with medium term upgrades to Saudi Arabia. Global production capacity is still expected to increase from 105 million b/d in 2022 to 116 million b/d in 2033, with non-OPEC supply contributing over half this growth. OPEC supply stays broadly flat before increasing significantly from 2025 due to expansions by core Middle East producers, although the gains generally diminish over the rest of the forecast.
Table of contents
Tables and charts
This report includes the following images and tables:
- Global oil supply at a glance
What's included
This report contains:
Other reports you may be interested in
Insight
Global oil supply short-term update - May 2025
Weakening demand outlook and OPEC+ easing of production cuts puts pressure on prices
$1,350
Insight
How does benzene pricing mechanism affect its market premiums and regional price differentials?
Asian transalkylation emerges as a crucial supply tier to accommodate necessary benzene supply changes.
$900
Insight
Global oil supply short-term update - April 2025
Market uncertainty reigns as the impact of US tariffs and return of OPEC+ barrels plays out
$1,350
