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Global upstream oil supply summary - June 2017

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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.

What's included

This report contains

  • Document

    Global upstream oil supply summary June 2017.pdf

    PDF 1.29 MB

  • Document

    Global upstream oil supply summary data June 2017.xls

    XLS 286.50 KB

  • Document

    Global upstream oil supply summary - June 2017

    ZIP 1.32 MB

Table of contents

  • Executive summary

Tables and charts

This report includes 1 images and tables including:

Images

  • Liquids changes (million b/d)

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