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Global oil supply summary - April 2019

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19 March 2019

Global oil supply summary - April 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 related excel data download. Strong non-OPEC supply growth countered by declining OPEC production continues to be a central theme in our short term supply outlook. Revisions to the outlook made since last month echo this: non-OPEC supply has been revised up by around 140,000 b/d in 2019, while OPEC supply is revised down by 160,000 b/d. The focus of uncertainty and risk is on OPEC this year. Crude oil production fell to 30.2 million b/d in March, the lowest level since early 2015. Production cuts primarily led by Saudi Arabia, US sanctions targeting Iran exports and a combination of sanctions and a deteriorating operating environment in Venezuela have all contributed to the fall.

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  • Document

    Global Oil Supply Summary April 2019.pdf

    PDF 979.22 KB

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    Global oil supply summary - April 2019

    ZIP 1.05 MB

  • Document

    Global oil supply data April_2019.xls

    XLS 365.00 KB

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