Country Report
Global upstream oil supply summary - June 2017
*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
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 growth in 2017 has been revised up again this month to around 640,000 b/d year-on-year. But, we now expect OPEC production to remain flat from 2017 to 2018. Our new base case assumes additional production restraint, with a rollover of cuts through 2018 to counteract increasing supply from Libya, Nigeria, and the US L48. There is still potential upside as Libya production volumes recently surpassed one million b/d on a daily basis. The crucial questions are, can it be sustained, and for how long? For non-OPEC supply, in Norway the Gina Krog project started up and in the UK, the Kraken field came onstream. Both fields will ramp up to peak production of 50,000 b/d each in 2018 and 2019 respectively.
Table of contents
-
Executive summary
- Highlights
Tables and charts
This report includes the following images and tables:
-
Liquids changes (million b/d)
What's included
This report contains:
Other reports you may be interested in
Insight
Global oil supply short-term update - May 2026
Supply outages continue as the Strait of Hormuz remains severely restricted. UAE to ramp-up post-conflict following its OPEC exit.
$1,350
Asset Report
L10/43 (Arunothai) & L11/43 (Burapa)
The L10/43 and L11/43 concessions are located in the Phitsanulok Basin, in Central Thailand. The L10/43 concession contains the ...
$3,720
Asset Report
Colpa-Caranda
The Colpa-Caranda contract area contains the mature Colpa and Caranda fields. The fields have been developed since the 80's and ...
$3,720
