Name: Global oil supply short-term update - October 2019
Brand: Wood Mackenzie
SKU: 117817
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Author: Wood Mackenzie

Country Report 07 October 2019

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            <h3 class="mega store_featured_content_extrabold store_font_black">Report summary</h3>
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Global liquids supply is forecast to grow 300,000 b/d in 2019, to 100.5 million b/d, and increase 1.8 million b/d in 2020 to bring total supply to 102.3 million b/d. Total liquids supply has been revised down by 250,000 b/d for 2019 and 110,000 b/d for 2020. Downgrades this month are dominated by OPEC: crude output has fallen in response to the September attacks on the Abqaiq and Khurais processing facilities in Saudi Arabia, along with a lowering of our Iran outlook as exports fall. This month we have extended our short-term forecast through 2021. Global supply continues to grow strongly in 2021, increasing by 1.3 million b/d to give total liquids supply of 103.6 million b/d. US supply momentum slows down, but our OPEC outlook remains broadly flat in 2021. This assumes OPEC producers continue to show production restraint to offset continued non-OPEC supply growth.</div>
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        <a href="#0f85135a-e3f1-42a9-981d-e933d55f6f65" class="js-toggle-local list__link-toggle dark-link font-semibold" role="button" aria-controls="0f85135a-e3f1-42a9-981d-e933d55f6f65" aria-expanded="false">
            Global supply: short term forecast extended to 2021
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        <ul id="0f85135a-e3f1-42a9-981d-e933d55f6f65" class="panel-toggle push-half--left push-half--bottom">
                <li class="push-quarter--bottom">
        Non-OPEC: US slowdown continues through 2021
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        US Lower 48: Permian remains the key growth area in 2021
    </li>
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        OPEC: 2021 output remains flat as producers continue adherence to cuts
    </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 October 2019.pdf</p>
<p class="uppercase delta">
    <span>PDF</span>
    <span>2.61 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 October 2019.xls</p>
<p class="uppercase delta">
    <span>XLS</span>
    <span>384.50 KB</span>
</p>
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