21 / 32
Volume
44
Issue
3
21
Source: Energy Intelligence Briefing Feb. 15, 2018.
On the supply side, preliminary estimates show that world oil supplies for
January 2018 increased by 0.1% or 0.1 million b/d, comparing with the previous
month to reach 99.2 million b/d, representing an increase of 2.3 million b/d from
their last year level.
In January 2018, OPEC crude oil and NGLs/condensates total supplies decreased
by 0.3% or 0.1 million b/d, comparing with the previous month and their last year
level to reach 38.7 million b/d. Preliminary estimates show that Non-OPEC supplies
increased by 0.3% or 0.2 million b/d, comparing with the previous month to reach
60.5 million b/d, representing an increase of 2.4 million b/d from their last year
level.
Preliminary estimates of the supply and demand for January 2018 reveal a
surplus of 0.6 million b/d, compared to a surplus of 0.2 million b/d in December
2017 and a surplus of 0.7 million b/d in January 2017, as shown in
table (2)
and
figure (6)
:
Table 2
World Oil Supply and Demand
(Million b/d)
January
2018
December
2017
Change from
December
2017
January
2017
Change from
January
2017
OECD Demand
47.1
47.9
-0.8
46.0
1.1
Rest of the World
51.6
51.0
0.6
50.1
1.4
World Demand
98.6
98.9
-0.3
96.2
2.4
OPEC Supply :
38.7
38.8
-0.1
38.8
-0.1
Crude Oil
32.1
32.2
-0.1
32.2
-0.1
NGLs & Cond.
6.6
6.6
0.0
6.6
0.0
Non-OPEC Supply
58.2
58.0
0.2
55.7
2.5
Processing Gain
2.3
2.3
0.0
2.4
-0.1
World Supply
99.2
99.1
0.1
96.9
2.3
Balance
0.6
0.2
0.7