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Asia Developing Countries Oil Supply – August 2013

Source: OPEC 8/28/2013, Location: Asia

Asia’s oil supply is expected to remain relatively steady in 2013, averaging 3.65 mb/d, compared with a year earlier, with a minor increase of 10 tb/d, indicating a downward revision of 15 tb/d from the previous month. Malaysia oil supply encountered the only revision among the region’s countries. Oil production from Malaysia, Thailand and Vietnam is expected to encounter growth while Indonesia and India output is seen to decline in 2013.

India’s oil supply is seen to average 0.87 mb/d in 2013, a minor decline of 10 tb/d compared to previous year, and flat from previous MOMR. Indonesia’s oil supply is expected to average 0.93 mb/d, a decline of 50 tb/d from the previous year. The decline is seen coming from limited new development and decline in mature producing areas. The government reduced the output target on the back of the actual data.

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