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- World oil demand is set to contract by 110 kb/d y-o-y in 4Q22, reaching 100.8 mb/d, up by 130 kb/d compared with last month’s Report. Strong gasoil use in key consuming countries outweighs weak European and Asian petrochemical deliveries.
- World oil supply fell 190 kb/d in November to 101.7 mb/d, breaking a five-month uptrend, after Saudi Arabia and other Gulf countries curbed supply in line with lower OPEC+ output targets.
- Global refinery throughputs surged 2.2 mb/d in November to the highest since January 2020, resulting in sharply lower diesel and gasoline cracks and refinery margins.
- Russian oil exports increased by 270 kb/d to 8.1 mb/d, the highest since April as diesel exports rose by 300 kb/d to 1.1 mb/d. Crude oil loadings were largely unchanged m-o-m, even as shipments to the EU fell by 430 kb/d to 1.1 mb/d.
World Oil has analyzed data to create 2022 drilling forecasts for the U.S., offshore and international. Click here to see a downloadable version of the 2022 forecast.
Monthly Oil Market Report 2022. 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.
Apr 1, 2024 · Price Forecasts. We prepare crude oil, natural gas and natural gas products, price forecasts for use in the marketplace, based on a detailed review of the most current commodity price and market information available.
Aug 11, 2022 · World oil demand is now forecast at 99.7 mb/d in 2022 and 101.8 mb/d in 2023. World oil supply hit a post-pandemic high of 100.5 mb/d in July as maintenance wound down in the North Sea, Canada and Kazakhstan.
Jul 13, 2022 · Highlights. Higher prices and a deteriorating economic environment have started to take their toll on oil demand, but strong power generation use and a recovery in China are providing a partial offset. Global oil demand growth has been marginally reduced to 1.7 mb/d in 2022, reaching 99.2 mb/d.
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World oil demand growth in 2022 is revised downwards from t he previous month’s assessment but still shows healthy growth of 3.1 mb/d, including the recently observed trend of burning more crude in power generation.
