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Global oil supply short-term update - March 2020

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04 March 2020

Global oil supply short-term update - March 2020

Report summary

The global oil supply monthly report provides analysis on short-term global oil supply through 2021. The written document is accompanied by a slide deck and related excel data download. Global liquids supply growth this year is now significantly lower due to reduced expectations for OPEC output, but 2021 supply remains largely unchanged from last month. Total global liquids production is forecast to increase 1.3 million b/d in 2020 and 1.6 million b/d in 2021. OPEC crude production falls by around 1.3 million b/d in 2020, a downward revision of 0.7 million b/d from last month. This reflects a lower outlook for Libya and to a lesser extent Iraq; as well as expected deeper OPEC+ cuts during Q1 and Q2 2020 led by Saudi Arabia. We continue to assume OPEC+ will maintain production cuts through our short-term outlook.

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This report contains:

  • Document

    Global Oil Supply Data March 2020.xls

    XLS 386.00 KB

  • Document

    Global oil supply short-term outlook March 2020.pdf

    PDF 954.57 KB

  • Document

    Global oil supply short-term update - March 2020

    ZIP 1.02 MB