Insight
Global oil supply 10-year investment horizon outlook
This report is currently unavailable
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 1 images and tables including:
- Global oil supply at a glance
What's included
This report contains:
Other reports you may be interested in
Insight
Global oil cost curves and pre-FID breakevens H2 2023
Key Middle Eastern OPEC countries dominate low-cost supply both now and in the future
$6,000
Commodity Market Report
Global metallurgical coal 10-year investment horizon outlook - 2023
Will investing in metallurgical coal pay off over the next decade?
$10,000
Country Report
Global oil supply short-term update - April 2024
OPEC+ cuts take effect in first half with high levels of compliance noted from participating members
$1,650
