Country Report
Global upstream oil supply summary - April 2018
Report summary
The oil supply summary monthly report provides analysis on short-term global oil supply through 2019. The written document is accompanied by a related excel data download. Global supply growth remains strong in the near term, despite substantial downward revisions this month to Venezuela. Global liquids are forecast to grow 2.4 million b/d in 2018 and 1.9 million b/d in 2019, with total supply revised down close to 350,000 b/d in both years. Analysis in this monthly update includes: the extent of our downgrade to Venezuela's oil production outlook, and the reasons for it; uncertainty surrounding US policy toward Iran and how it could impact the oil market; and potential takeaway capacity concerns in the Permian.
Table of contents
-
Executive summary
- Global supply growth downgraded as Venezuela production declines accelerate; wider geopolitical risk increases
- Geopolitical risk premium increases as Trump shakes-up the White House
- Impact of renewed US sanctions on Iran
- Venezuela: switch to low case supply outlook as production declines accelerate
- Could takeaway constraints in the Permian spoil the party?
Tables and charts
This report includes 1 images and tables including:
- Executive summary: Image 1
What's included
This report contains:
Other reports you may be interested in
Country Report
Global oil supply short-term update - April 2024
OPEC+ cuts take effect in first half with high levels of compliance noted from participating members
$1,650
Country Report
Global oil supply short-term update - March 2024
OPEC+ extends and deepens production cuts through Q2 2024
$1,650
Insight
Global upstream fiscal terms database
In this easy-to-use Excel workbook we summarise over 150 countries’ fiscal terms for the latest exploration opportunities.
$1,350
