non-OPEC
OPEC countries’ oil production reached 32.52 million barrels per day (mb/d) in April. That’s 140,000b/d higher compared to March, new data released by S&P Global Platts revealed. The increase was due to Iran and Iraq’s production which rose by 150,000b/d each after OPEC and non-OPEC producers failed to agree on a proposal to freeze output, […]
Global oil supplies rose by 250,000 barrels per day (b/d) in April. Higher OPEC output “more than offset deepening declines in non-OPEC countries”, according to the latest International Energy Agency (IEA). Its Oil Market Report (OMR) added on a year-on-year basis, the world’s output grew by 50,000 b/d last month in comparison to more than 3.5 […]
Non-OPEC production is estimated to fall by 12% this year. That accounts to around 750,000 barrels per day (b/d) to 74 million barrels b/d, according to the International Energy Agency (IEA). The reduction is also 100,000 b/d less than the IEA’s forecast last month. It’s latest Oil Market Report (OMR) added global supplies eased by 180,000 b/d […]
Oil demand growth is forecast to ease back “considerably” in 2016. It will be reduced to 1.2 million barrels per day (mb/d), according to the International Energy Agency (IEA). Oil demand peaked to 1.6mb/d in 2015. In its Oil Market Report (OMR) for February, the IEA stated demand will be pulled down by “notable slowdowns” in Europe, […]
Global oil demand in non-OPEC countries has fallen year-on year for the first time since 2012. It has been reduced from a near five-year high in the third quarter of last year, at 2.1 million barrels per day (mb/d), to a one-year low in the fourth quarter of 1mb/d. That’s due to mild temperatures in […]
The world’s oil demand is forecast to grow to 1.2 million barrels per day (mb/d) in 2016. The International Energy Agency (IEA) said that’s because of a slow growth in demand the current quarter as it fell to 1.3mb/d from a peak of 2.2mb/d last quarter. The resulting annual growth of 1.8 mb/d in 2015 was led […]
Global oil demand is forecast to fall to 1.2 million barrels per day (mb/d) next year. That’s according to a new report from the International Energy Agency (IEA), which stated the reduction follows a five-year high of 1.8 mb/d in 2015. The IEA’s ‘Oil Market Report for November’ added global supplies breached 97 mb/d last month […]
The growth in global demand for oil is expected to slow to 1.2 million barrels per day (mb/d) in 2016. That’s according to the International Energy Agency (IEA) which stated world oil supply was around 96mb/d in September. Non-OPEC countries output accounted for under 40% of the 1.8mb/d annual increase. The IEA’s monthly oil report […]
Oil supply at non-OPEC countries could be cut by almost 500,000 barrels per day (b/d) in 2016. That’s the biggest decline in more than two decades, according to the International Energy Agency (IEA). The prediction follows reduced oil prices which hit a six-year low in August, its latest Oil Market Report revealed. Lower output in the US, […]