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Africa Oil Supply - November 2012

Source: OPEC 12/5/2012, Location: Africa

Africa’s oil production is predicted to decrease by 0.23 mb/d in 2012 to average 2.36 mb/d, unchanged from the previous MOMR. Egypt’s supply forecast was revised down slightly on updated production data, but this did not affect the annual figure. Oil supply from Egypt, Equatorial Guinea and South Africa is seen to experience minor increases, while production from South Sudan and Sudan is seen to decline. South Sudan authorities have ordered operators to resume production that was halted early in 2012.

Reports suggested that the major part of the halted production will return within 90 days. According to preliminary and estimated data, during the first three quarters of 2012, Africa’s supply is estimated to have declined by 0.26 mb/d, compared with the same period of 2011. On a quarterly basis, African output is seen to average n2.41 mb/d, 2.31 mb/d, 2.32 mb/d and 2.41 mb/d respectively.

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