WORLD OIL SUPPLY 2014-15
World Oil Supply
Non-OPEC oil supply is estimated to have averaged 55.65 mb/d in 2014, an increase of 1.47 mb/d over a year earlier with an upward revision of 30 tb/d from the previous Monthly Oil Market Report (MOMR). OECD Americas was the main driver for growth in 2014. Non-OPEC oil supply is projected to grow at a slower pace of 1.31 mb/d in 2015 to average 56.96 mb/d. OPEC NGLs and nonconventional liquids are estimated grow by 150 tb/d to average 5.81 mb/d in 2014 and are forecast to grow by 220 tb/d to average 6.03 mb/d in 2015. In June 2014, OPEC crude oil production decreased by 79 tb/d to average 29.70 mb/d, according to secondary sources. As a result, preliminary data indicates that global oil supply decreased by 0.26 mb/d in June to average 90.66 mb/d.
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BLOOMBERG - Russia has begun discussions with Exxon Mobil Corp. on possible new oil and gas projects, potentially creating a dilemma as the U.S. government mulls more sanctions against the country.
IMF - The agreement reached today reflects the IMF’s commitment to continue to help Ukraine achieve stronger, sustainable, and inclusive economic growth. The new program has been developed in close coordination with the World Bank and the European Union, who have parallel operations to support Ukraine. The authorities’ steadfast and effective implementation will be critical for the program to achieve its objectives.
CNBC - Ukraine announced on Friday it would raise household gas prices by nearly a quarter as Prime Minister Volodymyr Groysman warned that the country risked default if it crashed out of its International Monetary Fund aid program.
Schlumberger Announces Third-Quarter 2018 Results Revenue of $8.5 billion increased 2% sequentially Pretax operating income of $1.2 billion increased 5% sequentially EPS was $0.46 Cash flow from operations was $1.8 billion Free cash flow was $1.0 billion