Name: Global oil supply short-term update - June 2019
Brand: Wood Mackenzie
SKU: 111496
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Author: Wood Mackenzie

Country Report 11 June 2019

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            <h3 class="mega store_featured_content_extrabold store_font_black">Report summary</h3>
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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. OPEC supply has been downgraded in our outlook this month. The end of waivers for US sanctions on Iran in May led to deeper export declines than expected, and Venezuela output is impacted by heavy oil upgraders being shut down. OPEC liquids supply is forecast to decline by an average 1.7 million b/d in 2019 and 80,000 b/d in 2020. Non-OPEC supply has also been revised downwards as the pace of production growth in Brazil has lagged expectations. Minor adjustments have been made to the US Lower 48 in two key Rockies plays - the Bakken and Niobrara. Non-OPEC supply continues to grow by 2.5 million b/d in 2019, easing to 2.1 million b/d in 2020, this growth is driven by additions in the US and bolstered by growth in Brazil, Canada and Norway.</div>
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                    <h3 class="alpha push-half--bottom">Table of contents</h3>

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        <a href="#4fc179f0-aed9-4905-835a-e0961f12bfdc" class="js-toggle-local list__link-toggle dark-link font-semibold" role="button" aria-controls="4fc179f0-aed9-4905-835a-e0961f12bfdc" aria-expanded="false">
            Global supply: slowdown in growth as further downgrades made to OPEC
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        <ul id="4fc179f0-aed9-4905-835a-e0961f12bfdc" class="panel-toggle push-half--left push-half--bottom">
                <li class="push-quarter--bottom">
        Non-OPEC supply
    </li>
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        US Lower 48
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    <li class="push-quarter--bottom">
        OPEC supply
    </li>
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        Iran: crude oil exports fall lower than expected in May
    </li>
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        Venezuela: lower crude production expected in summer 2019
    </li>

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<h3 class="alpha push-half--bottom ">What's included</h3>
<p class="push-half--bottom ">This report contains:</p>
<ul class="list"><li class="list__item-icon push-half--bottom"><svg class="list__image-icon" width="13.9" height="17.2" viewBox="0 0 13.9 17.2"><title>Document</title><g fill="#232323"><path d="M13.8 3.5L10.3.2c-.1-.2-.2-.2-.3-.2H1.5C.7 0 0 .7 0 1.5v14.2c0 .8.7 1.5 1.5 1.5h10.9c.8 0 1.5-.7 1.5-1.6V3.8c0-.1 0-.2-.1-.3zm-3.4-1.8l1.7 1.6h-1.7V1.7zm2 14.4H1.5c-.2 0-.5-.2-.5-.5V1.5c0-.2.3-.5.5-.5h7.8v2.9c0 .2.2.5.5.5h3.1v11.3c0 .2-.2.4-.5.4z"></path><path d="M11.1 6.3H3.7c-.2 0-.5.2-.5.5s.2.5.5.5H11c.3 0 .6-.2.6-.5s-.3-.5-.5-.5zM11.1 12.6H3.7c-.2 0-.5.2-.5.5 0 .2.2.5.5.5H11c.3 0 .6-.2.6-.5-.1-.3-.3-.5-.5-.5zM3.7 10.4H11c.3 0 .6-.2.5-.5 0-.2-.2-.5-.5-.5H3.6c-.2 0-.5.2-.5.5 0 .2.2.5.6.5z"></path></g></svg>
<p class="font-regular" >Global Oil Supply short-term outlook June 2019.pdf</p>
<p class="uppercase delta">
    <span>PDF</span>
    <span>774.17 KB</span>
</p>
</li><li class="list__item-icon push-half--bottom"><svg class="list__image-icon" width="13.9" height="17.2" viewBox="0 0 13.9 17.2"><title>Document</title><g fill="#232323"><path d="M13.8 3.5L10.3.2c-.1-.2-.2-.2-.3-.2H1.5C.7 0 0 .7 0 1.5v14.2c0 .8.7 1.5 1.5 1.5h10.9c.8 0 1.5-.7 1.5-1.6V3.8c0-.1 0-.2-.1-.3zm-3.4-1.8l1.7 1.6h-1.7V1.7zm2 14.4H1.5c-.2 0-.5-.2-.5-.5V1.5c0-.2.3-.5.5-.5h7.8v2.9c0 .2.2.5.5.5h3.1v11.3c0 .2-.2.4-.5.4z"></path><path d="M11.1 6.3H3.7c-.2 0-.5.2-.5.5s.2.5.5.5H11c.3 0 .6-.2.6-.5s-.3-.5-.5-.5zM11.1 12.6H3.7c-.2 0-.5.2-.5.5 0 .2.2.5.5.5H11c.3 0 .6-.2.6-.5-.1-.3-.3-.5-.5-.5zM3.7 10.4H11c.3 0 .6-.2.5-.5 0-.2-.2-.5-.5-.5H3.6c-.2 0-.5.2-.5.5 0 .2.2.5.6.5z"></path></g></svg>
<p class="font-regular" >Global Oil Supply Data June 2019.xls</p>
<p class="uppercase delta">
    <span>XLS</span>
    <span>368.00 KB</span>
</p>
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