Country Report
Global oil supply short-term update - September 2019
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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