Country Report
Global oil supply short-term update - November 2023
*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 by a slide deck and related excel data download. The overall forecast for global liquids supply remains relatively unchanged. However, there is an underlying shift in the dynamics. Non-OPEC supply is dominated by upgrades. To accommodate this, and to maintain a balanced market, we assume that Saudi Arabia will continue with its voluntary production cuts, through at least the first quarter of 2024.
Table of contents
-
Global supply: non-OPEC upgrades to delay easing of OPEC voluntary supply cuts?
- Non-OPEC production gains momentum in Q3 2023
- US Lower 48 production on track to add close to 850,000 b/d in 2023
- OPEC supply remains steady as cuts continue; revised Saudi Arabia outlook for 2024
Tables and charts
No table or charts specified
What's included
This report contains:
Other reports you may be interested in
Insight
Global oil supply short-term update - May 2025
Weakening demand outlook and OPEC+ easing of production cuts puts pressure on prices
$1,350
Insight
Global oil supply short-term update - April 2025
Market uncertainty reigns as the impact of US tariffs and return of OPEC+ barrels plays out
$1,350
Insight
Global oil supply short-term update - March 2025
OPEC+ reaffirm their decision to ease voluntary production cuts from Q2 2025
$1,350
