Country Report
Global oil supply short-term update - September 2019
*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 through 2020. The written document is accompanied by a slide deck and related excel data download. The outlook for global oil supply remains robust, and relatively unchanged from last month. Total liquids production is forecast to grow 600,000 b/d this year, and to grow 1.7 million b/d in 2020. In terms of changes from last month, total supply has been downgraded by around 150,000 b/d in both 2019 and 2020. Downward revisions to US Lower 48 and OPEC outweigh stronger outlooks for several mature producers.
Table of contents
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Global supply: shifting patterns of supply growth emerging
- Non-OPEC: slowdown of US onshore growth to accelerate in 2020
- US Lower 48: lower rig counts, slowing activity and updated type curves
- OPEC: deeper Saudi cuts slightly lower overall output
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