43 / 54
Volume
44
Issue
1
43
Source: Energy Intelligence Briefing Dec. 19, 2017.
On the supply side, preliminary estimates show that world oil supplies for
November 2017 increased by 1.3% or 1.3 million b/d, comparing with the
previous month to reach 99.6 million b/d, representing an increase of 0.1
million b/d from their last year level.
In November 2017, OPEC crude oil and NGLs/condensates total supplies
increased by 0.5% or 0.2 million b/d, comparing with the previous month to
reach 39.6 million b/d, representing a decrease of 0.9 million b/d from their
last year level. Preliminary estimates show that Non-OPEC supplies increased
by 1.9% or 1.1 million b/d, comparing with the previous month to reach 60
million b/d, representing an increase of 1 million b/d from their last year level.
Preliminary estimates of the supply and demand for November 2017
reveal a surplus of 1 million b/d, compared to a shortage of 0.7 million b/d in
October 2017 and a surplus of 2.4 million b/d in November 2016, as shown in
table (2)
and
figure (6)
:
Table 2
World Supply and Demand
(Million b/d)
November
2017
October
2017
Change from
October 2017
November
2016
Change from
November 2016
OECD Demand
47.7
46.7
1.0
47.3
0.4
Rest of the World
50.9
52.3
-1.4
49.8
1.1
World Demand
98.6
99.0
-0.4
97.1
1.5
OPEC Supply :
39.6
39.4
0.2
40.5
-0.9
Crude Oil
32.5
32.3
0.2
33.5
-1.0
NGLs & Cond.
7.1
7.1
0.0
7.0
0.1
Non-OPEC Supply
57.8
56.6
1.2
56.6
1.2
Processing Gain
2.2
2.3
-0.1
2.4
-0.2
World Supply
99.6
98.3
1.3
99.5
0.1
Balance
1.0
(0.7)
2.4