Name: Global oil supply short-term update - November 2024
Brand: Wood Mackenzie
SKU: 187441
Price: 1350 USD
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Author: Wood Mackenzie

Insight 08 November 2024

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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. The written document is accompanied by a slide deck and related excel data download. On 3 November OPEC+ announced that agreement had been reached, to delay the easing of some production cuts from December this year to January, should market conditions allow. Our base case remains that the easing of these cuts will be further delayed, with a phased return starting in Q2 2025. Following the flare up in Middle East conflict in early October prices rose sharply, but energy infrastructure was not impacted and tensions have eased somewhat, with prices settling back at around the prior range, as concerns over the strength of global demand continue. Moderate changes have been made to our forecast this month. The main upward revisions are to Venezuela, Iran, US NGLs, Niger and Canada.</div>
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                    <h3 class="alpha push-half--bottom">Table of contents</h3>

<li class="list__item-toggle">
        <a href="#86771914-80e7-414b-b50f-13f79033ca73" class="js-toggle-local list__link-toggle dark-link font-semibold" role="button" aria-controls="86771914-80e7-414b-b50f-13f79033ca73" aria-expanded="false">
            Global Supply: OPEC+ delay plan to ease cuts by one month as supply ticks up and prices settle lower
        </a>
        <ul id="86771914-80e7-414b-b50f-13f79033ca73" class="panel-toggle push-half--left push-half--bottom">
                <li class="push-quarter--bottom">
        Non-OPEC supply: outlook driven by upgrades to US NGLs, Niger and Canada
    </li>
    <li class="push-quarter--bottom">
        US Lower 48 oil production will grow at 3% annually through 2026
    </li>
    <li class="push-quarter--bottom">
        OPEC: OPEC+ to delay unwinding of cuts by one month to end-2024
    </li>

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    </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 Summary November 2024 Slidepack.pdf</p>
<p class="uppercase delta">
    <span>PDF</span>
    <span>1.09 MB</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 November 2024.xlsx</p>
<p class="uppercase delta">
    <span>XLSX</span>
    <span>376.38 KB</span>
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