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Jun 20, 2024 · Global crude oil prices, measured in US dollars per cubic meter. This data is not adjusted for inflation.
- 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.
Section 4: Oil data: downstream 31 Graph 4.1 World refinery throughput by region 44 Section 5: Oil trade 45 Graph 5.1 World inter-regional trade of crude oil 52 Graph 5.2 OPEC Members’ crude oil exports by destination 60 Section 6: Oil transportation 61 Graph 6.1 Average spot freight rates by vessel category 62 Section 7: Oil prices 65
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.
The WTI price followed a similar path as the Brent crude oil price in 2022, averaging $5/b less than the Brent crude oil price, compared with $3/b less in 2021. The Brent-WTI crude oil spread (the difference between the two prices) increased in 2022 relative to 2021 because European countries needed to replace crude oil supplies they were importing from Russia with crude oil from another source.
Oil demand in the OECD is estimated to grow by 1.6 mb/d, while the non-OECD is expected to grow by 1.5 mb/d. Total oil dem and is expected to average around 100 mb/d in 2022. The first half of this year i s revised higher, amid better -than-anticipated oil demand in the main OECD consuming countries. However, oil demand
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Jun 15, 2022 · World oil demand is forecast to reach 101.6 mb/d in 2023, surpassing pre-pandemic levels. While higher prices and a weaker economic outlook are moderating consumption increases, a resurgent China will drive gains next year, with growth accelerating from 1.8 mb/d in 2022 to 2.2 mb/d in 2023.
