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Asia Developing Countries Oil Supply in October 2013

Source: OPEC 11/6/2013, Location: Asia

Oil supply from Other Asia is expected to average 3.58 mb/d in 2013, a decline of 60 tb/d from the previous year. Updated production data indicated lower-than-expected output from Indonesia and Thailand. Accordingly, the necessary adjustments were completed, and the Other Asia oil supply forecast experienced a downward revision of 25 tb/d, compared with the previous assessment. India’s oil production is seen to average 0.87 mb/d in 2013, a minor decline of 10 tb/d compared to the previous year. The operator of the Rajasthan fields is planning to improve the fields’ output with the introduction of enhanced oil recovery (EOR). Malaysia oil supply is expected to average 0.66 mb/d in 2013, steady from the previous MOMR. Malaysia oil supply is seen to increase in the fourth quarter on a ramp-up of projects. EOR projects in Malaysia are expected to support output in the coming period.

On a quarterly basis, Other Asia’s oil supply is seen to stand at 3.66 mb/d, 3.58 mb/d, 3.51 mb/d and 3.58 mb/d, respectively.

Indonesia’s oil supply is forecast to decline by 50 tb/d in 2013 to average 0.93 mb/d, indicating a downward revision of 10 tb/d compared to the previous month. The downward revision came on the back of updated production figures in the third quarter that showed lower output than previously expected. Similarly, Thailand’s oil supply encountered a downward revision on the back of updated production data. Thailand’s oil supply is expected to average 0.36 mb/d in 2013, steady from the previous year. Oil production from Brunei and Vietnam are expected to remain flat in 2013 compared to the previous year.

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