World oil supply forecast
Worldwide crude oil prices will average $64 a barrel in the second half of 2019 and $65/b in 2020. That's according to the Short-term Energy Outlook by the U.S. Energy Information Administration. It's the same as the EIA's forecast last month. EIA forecasts total world crude oil and other liquids production for the second half of 2019 to average 101.3 million bpd, down by 550,000 bpd from the September STEO. OPEC Maintains World Oil Demand Forecast as Supply Concerns Continue. Organization cuts its 2019 oil production growth forecast for its non-cartel peers. LONDON—OPEC cut its 2019 oil production growth forecast for its non-cartel peers, a week after the bloc and its allies extended their continuing output cut for another nine months. IEA: World oil supply, demand to rebalance by 2020. The global oil market is expected to rebalance at $80/bbl by 2020, with further increases in price thereafter, as excess oil supplies are shed and demand picks up, according to the central scenario of the International Energy Agency’s 2015 World Energy Outlook, released Nov. 10. One of the world’s most influential oil consultancies has forecast that global oil demand will peak within 20 years, as a “tectonic” shift in the transport sector towards electric cars and autonomous vehicles gathers pace. Wood Mackenzie, which works closely with companies across the energy industry, Distribution of projected base oil demand worldwide by region 2015-2030 Share of projected base oil demand worldwide by type 2015-2030 Global base oil supply forecast by region and group 2020
Global oil supply looks comfortable through the forecast period. The world's oil production capacity is expected to rise by 5.9 mb/d by 2025, which more than
23 Sep 2018 World oil production will soar to new records over the next five years, as a In a forecast that will dismay environmentalists – and which 23 Apr 2019 Technological advancements and new policies have changed the outlook for oil production in the United States from perceived scarcity to 25 Sep 2018 Short term update: global oil supply reaches 100 mb/d in August. Higher OPEC output offsets seasonal non-OPEC decline. Non-OPEC output As supply increases and oil prices rise, volatility will continue to drive strategy. output to remain flat,” according to the IEA World Energy Outlook 2017.
Iran and Venezuela are forecast to post the deepest losses, though the outlook could change dramatically depending on political factors. Supply growth is supported by several countries Change in total oil supply for selected countries, 2018-2024
Cumulative world oil production at the end of 2017 was approximately 1.36 trillion barrels (1,360 billion barrels). Since WWII, approximately 95% of the cumulative total global oil production has been produced The electricity generation mix continues to experience a rapid rate of change, with renewables the fastest-growing source of electricity generation through 2050 because of continuing declines in the capital costs for solar and wind that are supported by federal tax credits and higher state-level renewables targets.
US differentials restrict production growth. The global economy staggers on, while MARPOL creates >1 MMb/d of additional demand. OPEC control.
11 Dec 2019 The cartel also left its world oil-demand growth forecast for this year and next unchanged at 980,000 and 1.08 million barrels a day, respectively, A forecast for global oil production was made for the period till the end of the 21st century. It has been shown that the global oil production will most likely peak at 10 Nov 2019 Oil leads and accounts for 35% of global energy supply, and OPEC supplies 35% of the world's oil. After some hesitation, OPEC's annual outlook China. Oil supply growth will be dominated by OPEC, although non-OPEC supply priate to briefly sketch out the broader global energy market outlook. The BP The Outlook for Energy is our long-term global view of energy demand and supply. Oil and natural gas remain important energy sources and require significant Many uncertainties exist concerning the future of energy demand and supply,
Over the long term, we expect to see average oil prices in the USD65-75/bbl range, with supply growth primarily from OPEC, US shale, and a few offshore basins that break even below USD75/bbl.
take an increasing share of this mix, we forecast oil and gas to account for 44% of the world's primary energy supply in 2050, down from 53% today. Investment 5 Nov 2019 The 14-member producer group said its own production of crude oil and other liquids is expected to decline over the next five years, falling to 32.8 World Oil provides news, oil prices, data, statistics, shale reports and upstream industry to the exploration, drilling, completion and production of oil and gas, both onshore and offshore. Special Focus: 2020 Forecast - Washington Outlook.
14 Feb 2020 Projected oil demand in Asia-Pacific is the highest in the world, at 36.7 million barrels daily in Statistics on "Global oil industry - Reserves". 17 Jun 2019 IEA, OPEC Cut 2019 Oil Demand Growth Forecast On the supply side, IEA reported that global oil supply eased by 0.1 million B/D in May to 24 Mar 2015 This is a post on the EIA Short Term Energy Outlook March 2015 (STEO). The steep growth in US crude production – and therefore the world 23 Sep 2018 World oil production will soar to new records over the next five years, as a In a forecast that will dismay environmentalists – and which 23 Apr 2019 Technological advancements and new policies have changed the outlook for oil production in the United States from perceived scarcity to 25 Sep 2018 Short term update: global oil supply reaches 100 mb/d in August. Higher OPEC output offsets seasonal non-OPEC decline. Non-OPEC output