Global upstream oil supply summary - February 2017
The oil supply summary monthly report provides analysis on short-term global oil supply through 2018. The written document is accompanied by a related excel data download. Global supply has fallen from December to January – led by strong adherence by the GCCs to the agreed OPEC cuts, and cuts by some non-OPEC countries, particularly Russia. While the change in month-on-month production is significant, the year-on-year changes are smaller – 2017 production is expected to remain relatively flat from 2016.