17 / 28
Volume
44
Issue
7
17
Source: Energy Intelligence Briefing June. 19, 2018.
On the supply side, preliminary estimates show that world oil supplies for May
2018 increased by 0.9% or 0.9 million b/d, comparing with the previous month to
reach 99.5 million b/d, representing an increase of 2.6 million b/d from their last
year level.
In May 2018, OPEC crude oil and NGLs/condensates total supplies increased by
0.3% or 0.1 million b/d, comparing with the previous month to reach 38.2 million
b/d, representing a decrease of 0.2 million b/d from their last year level. And
preliminary estimates show that Non-OPEC supplies increased by 1.2% or 0.7 million
b/d, comparing with the previous month to reach 61.2 million b/d, representing an
increase of 2.7 million b/d from their last year level.
Preliminary estimates of the supply and demand for May 2018 reveal a surplus
of 0.9 million b/d, compared to a surplus of 0.3 million b/d in April 2018 and a
shortage of 1 million b/d in May 2017, as shown in
table (2)
and
figure (6)
:
Table 2
World Oil Supply and Demand
(Million b/d)
May
2018
Abril
2018
Change from
Abril
2018
May
2017
Change from
May
2017
OECD Demand
47.1
46.6
0.5
47.1
0.0
Rest of the World
51.5
51.7
-0.2
50.8
0.7
World Demand
98.6
98.3
0.3
97.9
0.7
OPEC Supply :
38.2
38.1
0.1
38.4
-0.2
Crude Oil
31.8
31.7
0.1
32.0
-0.2
NGLs & Cond.
6.4
6.4
0.0
6.4
0.0
Non-OPEC Supply
58.9
58.2
0.7
56.1
2.8
Processing Gain
2.3
2.3
0.0
2.4
-0.1
World Supply
99.5
98.6
0.9
96.9
2.6
Balance
0.9
0.3
1.0