Africa Oil Supply - January 2012

Africa oil supply is predicted to average 2.58 mb/d in 2012, steady from the previous year, unchanged from last month. Ghana oil supply is expected increase in 2012 by around 50 tb/d, the largest growth within the group. The expected growth is driven by the ramp-up of the Jubilee project. Oil supply from Congo and Equatorial Guinea is expected to experience a minor increase in 2012 while output from Chad, Egypt, South Africa, and Sudan is seen to decline. Sudan and South Sudan oil supply is expected to decline by 40 tb/d in 2012 to average 0.38 mb/d. The decline is expected on the back of the political situation. On a quarterly basis, Africa oil supply is expected to average 2.59 mb/d, 2.58 mb/d, 2.58 mb/d and 2.57 mb/d respectively.

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• OPEC Daily Basket Price Stood at $59.05 a Barrel 
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