Balance of Supply and Demand - Dec 12

Source: OPEC_RP121212 12/12/2012, Location: Europe

Forecast for 2012
Demand for OPEC crude for 2012 remains unchanged from the previous report, as demand and non-OPEC supply have seen only minor adjustments. Within the quarters, the first, second and fourth quarters experienced upward revisions of 0.1 mb/d each, while the third was revised down by 0.1 mb/d from the previous assessment. Demand for OPEC crude stood at 30.1 mb/d in 2012, representing a decrease of 0.1 mb/d from a year earlier. The first quarter is expected to decline by 0.5 mb/d versus a year ago, the second to increase by 0.4 mb/d and the third to decline by 0.2 mb/d, while the estimate for the fourth quarter remains broadly unchanged.

Forecast for 2013
Demand for OPEC crude for 2013 remains unchanged from the previous report to stand at 29.7 mb/d. This represents negative growth of 0.4 mb/d, compared with 2012. Within the quarters, the first, second, and fourth saw upward adjustments of 0.1 mb/d each, while the third saw a downward revision of 0.2 mb/d from the previous assessment. The first quarter is estimated to increase by 0.3 mb/d versus the same quarter last year, while all other quarters are expected to see negative growth, with the bulk of the decrease coming from third, which is seen falling by 0.7 mb/d. The second and fourth quarters are forecast to drop by 0.6 mb/d and 0.5 mb/d respectively.


Netherlands/Holland >>  7/6/2022 - The independent energy firm Parkmead is happy to share the following trading update regarding the operation of its Dutch gas assets for the year end...
Tanzania >>  7/6/2022 - Orca Energy Group Inc. announces its intention to commence a Normal Course Issuer Bid (the “Bid“) for purchase of its Class B Subordinate Voting Share...

United Kingdom >>  7/6/2022 - Getech, a provider of renewable hydrogen and geoenergy, has won new business worth $2.15 million. These include the selling of geoscience data as well...
Norway >>  7/5/2022 - Electromagnetic Geoservices ASA ("EMGS") is pleased to announce that the Company has secured approximately USD 3.8 million in revenue from uplifts r...

United Kingdom >>  7/5/2022 - NextEnergy Solar Fund, the specialist renewable energy investment company, is pleased to announce it has signed a two-year extension to its existing £...
United Kingdom >>  7/5/2022 - Mast Energy Developments Plc, the UK-based multi-asset owner and operator in the rapidly growing Reserve Power market is pleased to announce an update...

Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 


Gulf Oil and Gas
Copyright © 2021 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.