25 / 36
Volume
44
Issue
2
25
Source: Energy Intelligence Briefing Feb. 15, 2018.
On the supply side, preliminary estimates show that world oil supplies for
December 2017 decreased by 0.7% or 0.7 million b/d, comparing with the previous
month to reach 99.1 million b/d, representing an increase of 0.1 million b/d from
their last year level.
In December 2017,
OPEC
crude oil and NGLs/condensates total supplies
decreased
by 1.3% or 0.5 million b/d, comparing with the previous month to reach
38.8 million b/d, representing a decrease of 0.9 million b/d from their last year
level. Preliminary estimates show that
Non-OPEC
supplies
decreased
by 0.3% or
0.2 million b/d, comparing with the previous month to reach 60.3 million b/d,
representing an increase of 1 million b/d from their last year level.
Preliminary estimates of the supply and demand for December 2017 reveal a
surplus of 0.2 million b/d, compared to a shortage of 0.1 million b/d in November
2017 and a surplus of 0.4 million b/d in December 2016, as shown in
table (2)
and
figure (6)
:
Table 2
World Supply and Demand
(Million b/d)
December
2017
November
2017
Change from
November
2017
December
2016
Change from
December 2016
OECD Demand
47.9
48.5
-0.6
47.9
0.0
Rest of the World
51.0
51.4
-0.4
50.7
0.3
World Demand
98.9
99.9
-1.0
98.6
0.3
OPEC Supply :
38.8
39.3
-0.5
39.7
-0.9
Crude Oil
32.2
32.6
-0.4
33.0
-0.8
NGLs & Cond.
6.6
6.7
-0.1
6.7
-0.1
Non-OPEC Supply
58.0
58.1
-0.1
56.8
1.2
Processing Gain
2.3
2.4
-0.1
2.5
-0.2
World Supply
99.1
99.8
-0.7
99.0
0.1
Balance
0.2
(0.1)
0.4