Global upstream oil supply summary - December 2017
*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
Table of contents
-
Executive summary
- Global supply: OPEC extends production cuts through 2018 as US supply shows momentum shift
- 30 November 2017 OPEC meeting: rollover through 2018 in line with Wood Mackenzie base case
- Non-OPEC supply growth revised up to 1.6 million b/d in 2018 and 1.1 million b/d in 2019
- Momentum shift in onshore US supply supports strong growth outlook in 2018
-
Forties pipeline outage hits UK production hard in December; otherwise minimal revisions to non-OPEC supply outside US
- Liquids changes (million b/d)
Tables and charts
This report includes the following images and tables:
- Executive summary: Image 1
What's included
This report contains:
Other reports you may be interested in
Global oil supply short-term update - October 2025
OPEC+ begin to unwind next tranche of cuts. We assume only a partial return of volumes due to a weakening outlook for prices.
$1,350Global oil supply short-term update - September 2025
Upgrades to global supply driven by US Lower 48 crude and NGLs, Brazil, United Arab Emirates and Argentina
$1,350Ya'an - Lithium refinery
A detailed analysis of the Ya’an lithium refinery.
$2,250