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Petroleum Devolopments
Volume 41 Issue 10
30
August
2015
July
2015
Change from
July
2015
August
2014
Change from
August
2014
OECD Demand
46.2
46.8
-0.6
45.5
0.7
Rest of the World
49.3
49.2
0.1
47.9
1.4
World Demand
95.5
96.0
-0.5
93.4
2.1
OPEC Supply:
39.0
38.4
0.6
37.2
1.8
Crude Oil
32.2
31.7
0.5
30.5
1.7
NGL’s & Cond.
6.8
6.7
0.1
6.7
0.1
Non-Opec Supply
57.2
57.2
0.0
54.9
2.3
Processing Gain
2.3
2.3
0.0
2.3
0.0
World Supply
98.5
97.9
0.6
94.4
4.1
Balance
3.0
1.9
1.0
Source: Energy Intelligence Briefing September 4, 2015.
On the supply side, preliminary estimates show that world oil supplies
for August 2015 increased by 0.6% or 0.6 million b/d comparing with the
previous month level to reach 98.5 million b/d, a level that is 4.1 million
b/d higher than last year.
In August 2015, OPEC crude oil and NGLs/condensates total supplies
increased by 1.6% or 0.6 million b/d comparing with the previous month
level to reach 39 million b/d, a level that is 1.8 million b/d higher than
last year. Whereas Preliminary estimates show that Non-OPEC supplies
remained stable at the same previous month level of 59.5 million b/d, a
level that is 2.3 million b/d higher than last year.
Preliminary estimates of the supply and demand for August 2015 reveal
a surplus of 3 million b/d, compared to a surplus of 1.9 million b/d in July
2015 and a surplus of 1 million b/d in August 2014, as shown in
table (2)
and
figure (6)
:
Table 2
World Supply and Demand
(Million b/d)
Tables (7)
and
(8)
in the annex show world oil demand and supply for
the period 2013-2015.