Gulf Oil and Gas accountACCOUNT

Balance of Supply and Demand - September 2017

Source: OPEC_RP170912 9/12/2017, Location: Europe

Share |
Based on the current global oil supply/demand balance, OPEC crude in 2017 is estimated at 32.7 mb/d, around 0.5 mb/d higher than in 2016. Similarly, OPEC crude in 2018 is estimated at 32.8 mb/d, about 0.2 mb/d higher than in 2017.

Balance of supply and demand in 2017
Based on the current global oil supply/demand balance, OPEC crude in 2017 was revised up by 0.2 mb/d from the previous report driven mainly by the upward revision in demand. Within the quarters, the second quarter was revised up by 0.3 mb/d, while the first, third and fourth quarters were revised up each by 0.2 mb/d. As a result, OPEC crude is estimated at 32.7 mb/d, representing an increase of 0.5 mb/d from the 2016 level. The first and the second quarters increased by 0.9 mb/d and 0.3 mb/d, respectively, while the third and fourth quarters are expected to grow by 0.3 mb/d and 0.4 mb/d, respectively.

Balance of supply and demand in 2018
Similarly, OPEC crude in 2018 was revised up by 0.4 mb/d from the previous month. Within the quarters, the first quarter was revised up by 0.1 mb/d, while the second, third and fourth quarters were revised up by 0.5 mb/d, 0.6 mb/d and 0.5 mb/d, respectively. OPEC crude is estimated at 32.8 mb/d, which is around 0.2 mb/d higher than the 2017 level. The first quarter is expected to increase by 0.4 mb/d, while the second and the third quarters are expected to increase by 0.1 mb/d and 0.2 mb/d, respectively. The fourth quarter is estimated to remain unchanged compared to the same quarter in 2017.

Financials and Investment News in Austria >>

Iraq >>  1/17/2018 - Genel Energy plc announces that the Taq Taq partners have received a gross payment of $10.10 million from the Kurdistan Regional Government for oil sa...
Norway >>  1/17/2018 - On 16 January 2018, the Norwegian Ministry of Petroleum and Energy (the "MPE") announced the awards of new production licenses through the Awards in P...

Austria >>  1/16/2018 - Brent crude prices consolidated recent gains at around $70 a barrel on Tuesday (16 Jan 2018), a level not seen since 2014’s dramatic oil market slump....
Norway >>  1/11/2018 - Reference is made to the announcement on December 15, 2017. Aker Solutions has successfully completed a NOK 1,500 million senior unsecured bond issue ...

Egypt >>  1/10/2018 - TransGlobe Energy Corporation (TGL) (TGA) (“TransGlobe”) announces the 2018 capital budget and promotions. All dollar values are expressed in US dolla...
United Kingdom >>  1/8/2018 - Nostra Terra, the oil and gas exploration company with a portfolio of assets in the USA and Egypt, is pleased to announce that it has received approva...

Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


Austria Oil & Gas 1 >>  2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 | 19 | 20 | 21 | 22 | 23 | 24 |

More News

 

Oil & Gas Companies in Austria >>


Related Links

Gulf Oil and Gas
Copyright © Universal Solutions All rights reserved. - Privacy Policy.