Middle East Oil Supply- March 2016

Source: OPEC 3/16/2016, Location: Middle East

Middle East oil supply declined by 80 tb/d y-o-y to average 1.26 mb/d in 2015. The main decline of 100 tb/d in the previous year came from Yemen. The total decline for 2016 is expected to be 50 tb/d, revised down by 10 tb/d due to ongoing geopolitical conflicts. Thus, total oil supply is expected to fall to 1.22 mb/d.

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