Country Report
Global oil supply short-term update - January 2019
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 1 images and tables including:
- Executive summary: Image 1
What's included
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