Country Report
Global upstream oil supply summary - March 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 remains weak, at only 140,000 b/d. This follows growth in 2016 of only 240,000 b/d, a big shift from the annual average increases of two million b/d between 2010 and 2015. Underpinning a second year of weak supply growth is the assumption that OPEC and Russia will rollover the agreed supply cuts into the second half of 2017, and that adherence will remain strong. But the return of OPEC and Russian production in 2018 signals the return of strong increases, with output forecast to rise 2.4 million b/d.
Table of contents
- Executive summary
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
Insight
Global oil supply short-term update - March 2026
Outbreak of conflict in the Middle East lowers our global oil supply
$1,350
Insight
Global oil supply short-term update - April 2026
Supply outages rise sharply through March as the Strait of Hormuz remains effectively shut-in
$1,350
