Data & analytics solutions

Country Report 11 June 2018

Get this report*

$1,650

You can pay by card or invoice

Share link

First name
Last name
Job Title
Company
Email
Telephone

Country

Message

Consent

Please keep me informed about Wood Mackenzie products, services and events.

Submit Category

For details on how your data is used and stored, see our Privacy Notice.

- FAQs about online orders
- Find out more about subscriptions

*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 2019. The written document is accompanied by a related excel data download. Our forecast for strong liquids supply growth through 2019 remains broadly intact, despite a significant downgrade to Iran due to the re-implementation of US sanctions. Year-on-year global liquids growth of 2.3 million b/d is expected in 2018, along with a further 1.7 million b/d of growth in 2019. The US continues to be the key growth engine, contributing 2.1 million b/d of this increase in 2018, 94% of the global total. This far outweighs the decline in OPEC liquids supply, which averages 0.4 million b/d in 2018, led by Venezuela, Iran and Angola. In this monthly we focus on the downgrade to Iran, due to the US withdrawal from the Iran nuclear deal and two potential alternative scenarios for OPEC supply in the wake of the 22 June OPEC meeting.

Executive summary
- US withdraws from Iranian nuclear deal: Implications for global oil supply
- OPEC: June 22 meeting – bet or hold?
- US L48 crude oil: Permian strength vs Permian takeaway capacity