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FSU Oil Supply in November 2013

Source: OPEC 11/30/2013, Location: Asia

The FSU’s total oil supply is expected to increase by 130 tb/d in 2013 to average 13.43 mb/d, indicating an upward revision of 10 tb/d from the previous month. The expected growth is supported by Russia and Kazakhstan, while output from Azerbaijan is seen to decline. During the first three quarters of 2013, FSU output increased by 120 tb/d, on average, compared to the same period of 2012.

On a quarterly basis, total oil supply in the FSU in 2013 is estimated to average 13.45 mb/d, 13.39 mb/d, 13.43 mb/d and 13.47 mb/d, respectively. China’s oil production is expected to increase by 60 tb/d in 2013, to average 4.22 mb/d. Other Europe’s oil supply is estimated to remain flat from 2012 and average 0.14 mb/d in 2013.

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