Middle East Oil Supply – August 2015

Source: OPEC 8/26/2015, Location: Middle East

Middle East oil supply is estimated to decrease by 0.10 mb/d in 2015 from the previous year to average 1.24 mb/d, unchanged from the previous MOMR. There is no expectation for growth or decline in oil supply in Bahrain, Oman or Syria, while it is predicted that oil output in Yemen will decline by 0.10 mb/d due to the war to average 40 tb/d in 2015. Moreover, the Middle East supply forecast is associated with a very high level of risk, mainly due to political factors, which could dramatically change the outlook in either direction. Oman’s oil production is expected to grow by 10 tb/d to average 0.95 mb/d, while Bahrain is expected to decline slightly by 10 tb/d to average 0.21 mb/d in 2015.

On a quarterly basis, Middle East supply in 2015 is seen to average 1.31 mb/d, 1.24 mb/d, 1.20 mb/d and 1.20 mb/d, respectively.

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