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- Global oil demand is set to return to pre-pandemic levels by the end of 2022, rising 5.4 mb/d in 2021 and a further 3.1 mb/d next year. The OECD accounts for 1.3 mb/d of 2022 growth while non-OECD countries contribute 1.8 mb/d.
- World oil supply is expected to grow at a faster rate in 2022, with the US driving gains of 1.6 mb/d from producers outside the OPEC+ alliance. That leaves room for OPEC+ to boost crude oil production by 1.4 mb/d above its July 2021-March 2022 target to meet demand growth.
- Global refinery throughput in 2021 is expected to recover half of the 7.4 mb/d fall in 2020, lagging behind demand growth for refined products as surplus inventories are drawn down.
- OECD industry stocks held relatively steady in April, at 2 926 mb, but fell 1.6 mb below the pre-Covid 2015-19 average for the first time in more than a year.
Feb 5, 2024 · Big Oil generated a combined revenue of over 1.68 trillion U.S. dollars in the 2022 fiscal year, with U.S.-based ExxonMobil spearheading the group.
Oct 14, 2021 · The 2021 report published Wednesday forecasts three scenarios. They are essentially business-as-usual, increased climate ambition, and what would need to be done to hold global warming to 1.5 C and meet net-zero greenhouse gas emissions by 2050.
Sep 14, 2021 · Global oil demand is now expected to rise by 5.2 mb/d this year and by 3.2 mb/d in 2022. World oil supply fell 540 kb/d m-o-m in August to 96.1 mb/d and is expected to hold steady in September as unplanned outages offset increases from OPEC+.
Upstream investment for oil and gas collapsed by 30% in 2020 to $309 billion. It recovered marginally in 2021, as energy prices increased, pandemic fears waned, and energy demand recovered. However, the recovery of investment in 2021 fell short of pre-COVID levels by a gap of more than $100 billion or by nearly 25%.
Monthly Oil Market Report 2021. The OPEC Monthly Oil Market Report (MOMR) covers major issues affecting the world oil market and provides an outlook for crude oil market developments for the coming year. The report provides a detailed analysis of key developments impacting oil market trends in world oil demand, supply as well as the oil market ...
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Aug 12, 2021 · Global oil demand is now seen rising 5.3 mb/d on average, to 96.2 mb/d in 2021, and by further 3.2 mb/d in 2022. World oil supply rose by 1.7 mb/d in July to 96.7 mb/d after Saudi Arabia ended its extra voluntary production cut and the North Sea recovered strongly after maintenance.
