Country Report
Global oil supply short-term update - January 2019
*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
The global oil supply monthly report provides analysis on short-term global oil supply through 2020. The written document is accompanied by a related excel data download. Supply growth is expected to slow in 2019. After an estimated increase of 2.5 million b/d in 2018, global supply is forecast to grow 1.4 million b/d in 2019 and 1.8 million b/d in 2020 – assuming OPEC continues to restrain production through end-2020. Notably, non-OPEC supply is forecast to grow 2.3 million b/d in 2019 and 2.0 million b/d in 2020 (despite a slight downward adjustment for total non-OPEC supply of 110 kb/d in 2019 and 100 kb/d in 2020) making the OPEC+ cuts critical to prevent significant oversupply.
Table of contents
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Executive summary
- Supply growth is slowing into 2019
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OPEC: steep fall in output as production cut agreement implemented
- OPEC Crude Oil Supply (million b/d)
- Risked outlook for Libya remains justified as El Sharara field is shut-in
Tables and charts
This report includes the following images and tables:
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Executive summary: Image 1
What's included
This report contains:
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