2020-12-17 14:05:00
OECD OIL PRODUCTION DOWN
IEA - 16 Dec 2020 - MONTHLY OECD OIL STATISTICS
Total OECD indigenous production of crude oil, NGL and refinery feedstocks decreased by 7.3% in September 2020 compared to September 2019. This trend was driven by the OECD Americas (-8.2% y-o-y1) where production declined in the United States (-9.5% y-o-y) and Canada (-6.4% y-o-y). A decrease in production was also observed in OECD Asia Oceania (-7.2% y-o-y) and OECD Europe (-0.5% y-o-y). Overall, total OECD production decreased by 1.3% during the first 3 quarters of 2020.
Total OECD refinery gross output of total products declined by 13.9% in September 2020 compared to September 2019, a trend observed in all OECD regions. The decline was led by the OECD Americas, with a yearon- year decline of 15.1% and followed by OECD Europe (-11.2% y-o-y) and OECD Asia Oceania (-15.4% y-o-y) in absolute terms. Decreases in outputs of all products were observed across all OECD regions due to the continuation of the Covid-19 crisis. The largest declines were observed for total kerosene (-51.5% y-o-y), total gasoline (-9.8% y-o-y) and total gas/diesel oil (-8.4% y-o-y) oil for total OECD.
Total OECD net deliveries of total products decreased by 11.3% in September 2020 compared to September 2019. Declines in deliveries were observed for all products, with the largest declines being observed for total kerosene (-52.6% y-o-y), total gasoline (-8.4% y-o-y) and total gas/diesel oil (-5.7% y-o-y). Decreases were observed in all OECD regions, with the OECD Americas (-11.9% y-o-y) leading this trend and followed by the OECD Europe (-10.5% y-o-y) and OECD Asia Oceania (-10.6% y-o-y).
Total OECD oil stock levels on national territory decreased by 6067 kt in September 2020 compared to closing stock levels in August 2020, and closed at 565 million metric tons. Stock draws were observed across all OECD regions, led by the OECD Americas (-2590 kt) and followed by OECD Europe (-2037 kt) and OECD Asia Oceania (-1441 kt). Stock draws were also observed for all products, with the greatest stock draw for the total OECD being observed for middle distillates (-3776 kt). Contrary to the general trend observed for all products and regions, a stock build for crude oil, NGL and refinery feedstocks was observed in OECD Europe (+1471 kt).
1 Year-on-year (y-o-y) change over corresponding month of previous year.
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Earlier:
2020, December, 16, 12:30:00
CHINA'S OIL THROUGHPUT UP TO 14.26 MBD
Over January-November, Chinese refineries processed 614.41 million mt or 13.44 million b/d of crude, up 3.1% year on year on a metric tons basis,
2020, December, 15, 14:20:00
GLOBAL OIL DEMAND DOWN 9.77 MBD
World oil demand for 2020 is expected to decline by 9.77 mb/d,
2020, December, 15, 14:10:00
U.S. PRODUCTION: OIL (-137) TBD, GAS (-744) MCFD
Crude oil production from the major US onshore regions is forecast to decrease 137,000 b/d month-over-month in December from 7,575 to 7,438 thousand barrels/day, gas production to decrease 744 million cubic feet/day from 81,521 to 80,777 million cubic feet/day .
2020, December, 11, 11:10:00
OIL & GAS NEED INVESTMENT
"Without sufficient investment, a reduced supply of oil and gas could lead to greater market volatility and higher prices, slowing the global economic recovery and jeopardizing energy security and international goals," said the IEF,
2020, December, 9, 11:40:00
ГЛОБАЛЬНЫЙ РЫНОК: СНИЖЕНИЕ СПРОСА НА НЕФТЬ
“Пик потребления углеводородов, может, уже даже и прошел. Пандемия структурно повлияла на мировую экономику: уже меньше путешествий, пользования транспортом, командировок, но больше видео конференций, заказов через онлайн торговлю. Это уже могло повлиять на структурный уровень потребления углеводородов в мире”.
2020, December, 4, 12:35:00
OPEC+RUSSIA EXTENSION
Beginning in January 2021, DoC participating countries decided to voluntary adjust production by 0.5 mb/d from 7.7 mb/d to 7.2 mb/d.
2020, November, 18, 14:35:00
OPEC+: 101%
The Committee reviewed the crude oil production data for October 2020 and welcomed the positive performance in the overall conformity level for participating OPEC and non-OPEC Countries, at 101 per cent.
