Asia Oil Supply in May 2014

Source: OPEC 6/9/2014, Location: Asia

Other Asiaís oil production is estimated to decrease by 80 tb/d in 2013 to average 3.57 mb/d, representing an upward revision of 10 tb/d from the previous MOMR. The revision came from higher-than-expected output in 4Q13. Other quarters in 2013 were also positively revised. On a quarterly basis, total oil supply in Other Asia is estimated to average 3.68 mb/d, 3.60 mb/d, 3.48 mb/d, and 3.52 mb/d, respectively. Total oil supply from the region is expected to drop by 30 tb/d to average 3.54 mb/d in 2014. Quarterly averages of 3.56 mb/d, 3.53 mb/d, 3.54 mb/d, and 3.52 mb/d are expected in 2014.

Indiaís oil supply was sustained at 0.87 mb/d in all quarters of 2013 and is expected to decrease by 10 tb/d in 2014 to average 0.86 mb/d, unchanged from the previous report.

Thailandís production in 2013 is expected to grow by 10 tb/d to reach 0.36 mb/d. A minor decline of 20 tb/d is foreseen in 2014 to average 0.35 mb/d.

Indonesiaís oil production in the previous year averaged 0.94 mb/d, a decline of 50 tb/d over 2012. A decline of 10 tb/d is expected in 2014 to average 0.93 mb/d, flat from the previous MOMR, despite the fact that Indonesia's oil and gas industry faces difficulties in the form of land clearance issues, high decline rates at producing fields, difficulties in procuring rigs for exploration, and slow processing of operating permits by several regional governments. Aside from a brief resurgence in 2008, the country's oil production has been in steady decline since 1995.

Malaysiaís liquid supply is estimated to average 0.66 mb/d in 2013, representing a drop of 10 tb/d compared with 2012. Production ,however, is expected to grow by 20 tb/d to average 0.68 mb/d in the current year.

Vietnamís production in 2013 is seen unchanged from the previous year at an average of 0.39 mb/d and is expected to drop by less than 10 tb/d this year.

Bruneiís oil supply in 2013 declined by 20 tb/d to average 0.14 mb/d. A drop of more than 10 tb/d is expected in 2014 to average 0.12 mb/d.




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