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Africa Oil Supply - February 2013

Source: OPEC 2/24/2013, Location: Africa

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Africa’s oil supply is forecast to average 2.38 mb/d in 2013, representing growth of 60 tb/d from the previous year and a downward revision of 40 tb/d, compared with the previous month. South Sudan’s and Sudan’s oil supply saw a downward revision of 30 tb/d on the back of further delays, due to political issues, of the restart of South Sudan’s production. Data remains very limited regarding both Sudan’s and South Sudan’s production and could cause major revisions to the forecast, once available.

Ghana’s oil supply is expected to support the outlook in 2013 on the back of continued ramp-up of the Jubilee project. On a quarterly basis, Africa’s supply is seen to average 2.28 mb/d, 2.36 mb/d, 2.43 mb/d and 2.45 mb/d, respectively.

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