Middle East Oil Supply in June 2015

Source: OPEC 7/1/2015, Location: Middle East

Middle Eastern oil supply is estimated to decrease by 0.09 mb/d in 2015 from the previous year to average 1.24 mb/d, unchanged from the previous MOMR. There is no expectation for growth or decline in oil supply in Bahrain, Oman and Syria, while it is predicted that oil output in Yemen will register a heavy decline by 90 tb/d due to geopolitical concerns to average 50 tb/d in 2015. Moreover, the Middle Eastern supply forecast is associated with a very high level of risk, mainly due to political factors, which could dramatically change the outlook in either direction.

On a quarterly basis, Middle Eastern supply in 2015 is seen to average 1.32 mb/d, 1.24 mb/d, 1.22 mb/d and 1.21 mb/d, respectively.

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