Asia Pacific Oil Supply - May 2013

Source: OPEC 5/18/2013, Location: Not categorized

OECD Asia Pacific supply is foreseen to decline by 30 tb/d to average 0.50 mb/d in 2013, indicating a downward revision of 20 tb/d compared to the previous month. The downward revision came on the back of updated production data. On a quarterly basis, OECD Asia Pacific supply is expected to average 0.45 mb/d, 0.49 mb/d, 0.51 mb/d and 0.53 mb/d respectively.

Oil supply from Australia is predicted to decline by 20 tb/d and average 0.42 mb/d in 2013, a downward revision of 20 tb/d from the previous MOMR. The downward revision came on the back of updated production data in the first quarter that was partially carried over to the rest of the year. The startup of the relatively small Hanson fields did not have a large impact on the forecast. According to preliminary and estimated data, Australia’s first quarter oil production averaged 0.36 mb/d, the lowest level since the fourth quarter 1972, a decline of 70 tb/d compared to the same period a year earlier.

The low output was partially driven by the impact of the cyclone season, which also influenced the progress of bringing in new supply. However, output is seen to rebound in the coming quarter as new projects such as Montara are expected to start up. On a quarterly basis, Australian supply is expected to average 0.36 mb/d, 0.42 mb/d, 0.44 mb/d and 0.46 mb/d respectively.


Brazil >>  6/17/2022 - Petrobras, regarding the news published in the media, clarifies that by request of the Chairman of the Board of Directors, its Board of Directors held...
Canada >>  6/16/2022 - PetroTal Corp. is pleased to announce the following sales related update.

720,000 barrels of oil under contract for export from Bayovar. Ap...


United States >>  6/15/2022 - ExxonMobil released the following statement in response to a letter from President Biden.

We have been in regular contact with the adminis...

United States >>  6/14/2022 - The U.S. Department of Energy (DOE) announced the fourth Notice of Sale of 45 million barrels of crude oil from the Strategic Petroleum Reserve (SPR)....

Iran >>  5/31/2022 - The managing director of the National Iranian Oil Company (NIOC) here said there is no problem regarding oil debt collection. ...
Russia >>  5/31/2022 - EU leaders urged Russia to halt its indiscriminate attacks on civilians and infrastructure, as well as to evacuate all of its troops and military equi...

Related Categories: Coal  Electricity  General  Natural Gas  Oil 

Related Articles: Coal  Electricity  General  Natural Gas  Oil 


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