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Africa Oil Supply in December 2014

Source: OPEC 12/17/2014, Location: Not categorized

Africa’s oil supply is predicted to average 2.41 mb/d in 2014, an increase of 0.01 mb/d from the previous year, unchanged from one MOMR ago. South Sudan’s oil supply is forecast to recover by 0.05 mb/d in 2014, due to shut-in wells coming back, to average 0.29 mb/d, unchanged from the previous month. Supply forecasts for the other countries in the region remained more or less steady from the previous MOMR. During the first three quarters of this year, Africa’s supply increased by 60 tb/d compared with the same period in 2013. On a quarterly basis, supply in 2014 is seen to stand at 2.44 mb/d, 2.41 mb/d, 2.40 mb/d and 2.36 mb/d, respectively.

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