Balance of Supply and Demand - December 2015

Source: OPEC_RP151212 12/13/2015, Location: Europe

Demand for OPEC crude in 2015 was revised down by 0.2 mb/d from the previous month’s report to stand at 29.4 mb/d, which is 0.4 mb/d higher than the 2014 level. In 2016, demand for OPEC crude is projected at 30.8 mb/d, unchanged from last month’s report and around 1.5 mb/d higher than in the current year.

Forecast for 2015
Demand for OPEC crude in 2015 was revised down by 0.2 mb/d from the previous month’s report to stand at 29.4 mb/d. This represents an increase of 0.4 mb/d over the previous year. The last two quarters of the year were revised down by 0.4 mb/d, while 1Q15 and 2Q15 remained almost unchanged. This downward revision mainly reflects the upward adjustment in non-OPEC supply. The first quarter fell by 0.6 mb/d, while 2Q15 grew by 0.2 mb/d. The third and further quarters are expected to see growth of 0.4 mb/ and 1.5 mb/d, respectively, versus the same quarters last year.

Forecast for 2016
Demand for OPEC crude in 2016 remained unchanged from the previous month. For 1Q16, demand for OPEC crude was revised down by 0.1 mb/d, while 3Q16 was revised up by 0.1 mb/d. The second and fourth quarters remain unchanged from the previous assessment. Overall, demand for OPEC crude for next year is projected to increase by 1.5 mb/d to average 30.8 mb/d. The first and second quarters are expected to increase by 1.9 mb/d and 1.7 mb/d, respectively, while 3Q16 and 4Q16 are projected to rise by 1.5 mb/d and 0.7 mb/d, respectively.


Nigeria >>  6/24/2022 - San Leon, the independent oil and gas production, development and exploration company focused on Nigeria, provides the following update in relation to...
United States >>  6/23/2022 - The Rocky Mountain oil and gas business Zephyr Energy plc (AIM: ZPHR) (OTCQB: ZPHRF), which focuses on ethical resource development from carbon-neutra...

United States >>  6/23/2022 - Southern Energy Corp. ("Southern") (SOUC), a U.S.-focused, growth-oriented natural gas producer, is pleased to announce a proposed prospectus offering...
Iraq >>  6/22/2022 - The Kurdistan Regional Government ("KRG") has paid Gulf Keystone a gross payment of $62.0 million ($48.5 million net to GKP) for the sale of Shaikan c...

Georgia >>  6/21/2022 - The Nordex Group presented its figures for the first quarter of 2022. This announcement has been delayed, as announced on 5 May 2022, because the Nord...
Monaco >>  6/21/2022 - Scorpio Tankers Inc. (STNG) (Scorpio Tankers) announces that the President of the Company and Scorpio Holdings Limited, a related party, have purchase...

Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 


Gulf Oil and Gas
Copyright © 2021 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.