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Jan 4, 2022 · According to our December 2021 Short-Term Energy Outlook (STEO) estimates, U.S. crude oil production in 2021 decreased by 0.1 million barrels per day (b/d) from 2020 and by 1.1 million b/d from 2019.
Aug 16, 2023 · OPEC includes countries with some of the world's largest oil reserves. At the beginning of 2021, OPEC members controlled about 72% of total world proved crude oil reserves (plus lease condensate), and they accounted for 37% of total world crude oil production in 2021.
Mar 17, 2021 · Oil 2021 tackles these questions by analysing oil market data, trends in investment and government policies. The report provides a comprehensive outlook for global supply and demand through 2026 and explores some of the challenges and uncertainties that lie ahead.
Jun 11, 2024 · We forecast that global oil inventories will begin increasing at an average of 0.4 million b/d in 2Q25 and will increase by 0.6 million b/d in the second half of 2025. As a result, we expect oil prices will increase to an average of $87/b in 4Q24 and $88/b in 1Q25.
Jun 11, 2021 · Jet and kerosene demand will see the largest increase (+1.5 mb/d y-o-y), followed by gasoline (+660 kb/d y-o-y) and gasoil/diesel (+520 kb/d y-o-y). 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.
US supply growth will not unilaterally overwhelm the oil market—global demand in 2022 is projected to rise 3 MMb/d from fourth quarter 2021 to fourth quarter 2022—but it underlines that higher oil prices are leading to renewed US growth.
Oct 25, 2021 · U.S. West Texas Intermediate (WTI) crude futures were unchanged at $83.76 a barrel after reaching $85.41 a barrel, the highest since October 2014. Advertisement · Scroll to continue. Both...
