Insight
Global oil supply short-term update - January 2025
*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. The written document is accompanied this month by a related excel data download only. The slide pack will resume with the early February report. Over the last month Brent prices remained rangebound in the low to mid $70s per barrel, recently drifting above $75 per barrel. Minor changes, weighted to the upside, have been made to our forecast. The most significant upgrades are to China, Canada NGLs and US Lower 48 crude.
Table of contents
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Global Supply: minor upward changes to the outlook as prices strengthen in early January
- Non-OPEC supply: upgrades to Canada NGL outlook partially offset by downgrades to UK and Norway
- OPEC: no change to strategy, cuts to be unwound from Q2 2025
Tables and charts
No table or charts specified
What's included
This report contains:
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