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Africa Oil Supply in January 2015

Source: OPEC 2/5/2015, Location: Africa

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Africa’s oil supply is projected to average 2.41 mb/d in 2014, a small increase of 10 tb/d from the previous year, in spite of a positive revision of 10 tb/d in 4Q14, unchanged from the previous MOMR. Oil production in the Sudans and Equatorial Guinea is expected to increase, while oil output of other African countries will remain steady or see a minor decline in 2014. Oil supply in 2015 is expected to average 2.41 mb/d, remaining steady from 2014, revised up by 20 tb/d from the previous MOMR. On a quarterly basis, Africa’s oil supply in 2014 is expected to average 2.44 mb/d, 2.41 mb/d, 2.40 mb/d and 2.39 mb/d, respectively.

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