All publications by tag «SUPPLY»
2016, February, 9, 18:35:00OIL: BE BIGGER
Supply may exceed consumption by an average of 1.75 million barrels a day in the period, compared with an estimate of 1.5 million last month, and the excess could swell if OPEC adds more output, the IEA said. Iran raised production in January following the removal of international sanctions, Iraqi volumes reached a record and Saudi Arabia also ramped up output. The agency trimmed estimates for global oil demand.
2015, December, 8, 19:45:00OIL MARKET OVERSUPPLIED
"The market is oversupplied and production capacity will continue to grow because a lot of projects were sanctioned in 2013 and 2014," Pouyanne told reporters on the sidelines of the International Petroleum Technology Conference in Doha.
2015, October, 19, 19:35:00OIL DEMAND GROWTH
"The fourth-quarter oil demand will be mainly boosted by heating oil demand in Asia. And in 2016, North America and Asia will continue to drive the global oil demand growth," the country's third-largest refiner said in an earnings statement.
2015, October, 14, 19:30:00OPEC: WORLD ECONOMY & OIL MARKET
World economic growth has been revised down to 3.1% for 2015 and to 3.4% for 2016. While OECD growth remains unchanged at 2.0% for 2015 and 2.1% in 2016, major emerging economies are increasingly facing challenges. China’s and India’s growth forecasts have been revised down by 0.1 percentage points to now stand at 6.8% and 6.4% for China and at 7.4% and 7.6% for India in 2015 and 2016, respectively.
2015, October, 14, 19:25:00OIL MARKET SLOWDOWN
The demand outlook for next year is looking softer mainly due to recent downgrades to the macroeconomic outlook and expectations that crude oil prices will not see repeats of the heavy losses of 2015.
2015, September, 15, 19:00:00OPEC 2016: MORE OIL
World Oil Demand. In 2015, world oil demand growth is expected to be around 1.46 mb/d after an upward revision of around 84 tb/d, mainly to reflect better-than-expected data from OECD region. In 2016, world oil demand is anticipated to rise by 1.29 mb/d after a downward revision of around 50 tb/d.
2015, September, 11, 19:00:002016: PRODUCTION CUTBACKS
The latest tumble in the price of oil, which hit a six-year low in August, is expected to cut non-OPEC supply in 2016 by nearly 0.5 million barrels per day (mb/d) – the biggest decline in more than two decades.
2015, May, 13, 21:10:00MAY OIL MARKET
Despite slowing US output of light tight oil, global oil supply growth remained at a steep 3.2 million barrels per day (mb/d) year-on-year in April.
2015, April, 16, 20:20:002015: OIL DEMAND IS HIGHER
In its April Oil Market Report, the International Energy Agency raised its forecast of 2015 global oil demand by 90,000 b/d to 93.6 million b/d, a gain of 1.1 million b/d on the year and a notable acceleration of the 700,000-b/d growth in 2014, as the global economy slowly gains momentum. Colder-than-year-earlier temperatures in most Organization for Economic Cooperation and Development economies in this year’s first quarter also accounted for part of the upward revision.
2015, March, 18, 21:10:00OIL DEMAND GROWTH
Steady climb in global demand growth prompts slight upward revision of 2015 forecast.