The International Energy Agency (IEA) expects non-OPEC production to drop by nearly 500 MBOPD in 2016 as a result of declining activity in the new commodity environment. The projection, made in the Agency’s Oil Market Report for September, reinforces a Citigroup forecast earlier in the week that said United States volumes alone could fall by as much as 500 MBOPD by
Demand to edge up as some production goes offline in 2015 The International Energy Agency (IEA) released its monthly Oil Market Report (OMR) for the month of June today, projecting stronger than anticipated global demand growth through 2015. Global demand is expected to grow at 1.7 MMBOPD for the first quarter of 2015 and 1.4 MMBOPD for the rest of
Weaker than expected demand in Asia prompts agency to lower future growth expectations The International Energy Agency (IEA) revised down its expectations for natural gas global demand growth to 2% from 2.3% a year ago in it its latest Medium-Term Gas Market Report. One of the main drivers behind the revision was lower than expected gas demand in Asia, said
United States oil production and its diminishing storage capacity may lead to another drop in oil prices, according the International Energy Agency’s (IEA) Oil Market Report for March 2015. The Agency revised its oil demand outlook upward, but the increase was offset by a similar revision on the production side. U.S. production is expected to average 12.56 MMBOEPD in 2015,
CRUDE OIL INVENTORY/’000 bbls (Week Ended 10/5/12) Current: 366,370 Actual Build/(Withdrawal): 1,672 Economist Average Estimate: 773 Previous: 364,698 Click here for the chart with five year averages. CRUDE OIL IN THE MEDIA *Continental Resources says Oklahoma discovery may add 1.8 billion barrels – Tulsa World Continental Resources Inc. says a shale-oil discovery in Oklahoma may add the equivalent of 1.8 billion
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