Table of Contents Table of Contents
MOMR July 2017 Next Page
Information
Show Menu
MOMR July 2017 Next Page

 




00-0 Equatorial Guinea
3

Welcome Equatorial Guinea as an OPEC Member
3

00-1 Oil Market Highlights
5

Oil Market Highlights
5

Crude Oil Price Movements
5

World Economy
5

World Oil Demand
5

World Oil Supply
5

Product Markets and Refining Operations
5

Tanker Market
5

Stock Movements
5

Balance of Supply and Demand
5

00-2 Feature Article
7

Feature Article
7

The outlook for the oil market in 2018
7

00-3 Table of Contents
9

01 Crude Oil Price Movements
11

Crude Oil Price Movements
11

OPEC Reference Basket
11

The oil futures market
13

The futures market structure
15

The light sweet/medium sour crude spread
16

02 Commodity Markets
17

Commodity Markets
17

Trends in selected commodity markets
17

Investment flows into commodities
19

03 World Economy
21

World Economy
21

OECD
21

OECD Americas
21

US
21

Canada
23

OECD Asia Pacific
23

Japan
23

South Korea
24

OECD Europe
24

Euro-zone
24

UK
26

Non-OECD
27

BRICs
27

Brazil
27

Russia
28

India
29

China
32

OPEC Member Countries
35

Other Asia
35

Africa
36

Latin America
36

Transition region
36

Oil prices, US dollar and inflation
37

04 World Oil Demand
38

World Oil Demand
38

World oil demand in 2017
38

OECD
39

OECD Americas
39

US
39

OECD Europe
40

Big 4
40

OECD Asia Pacific
41

Japan
41

South Korea
42

Non-OECD
42

Other Asia
42

India
42

Indonesia
43

Thailand
43

Latin America
44

Brazil
44

Argentina
44

Ecuador
44

Middle East
45

Saudi Arabia
45

Kuwait
46

Other countries
46

China
46

World oil demand in 2018
47

OECD
48

OECD America
48

OECD Europe
48

OECD Asia Pacific
48

Non-OECD
49

Other Asia
49

Latin America
49

Middle East
49

China
49

05 World Oil Supply
50

World Oil Supply
50

Non-OPEC supply in 2017 and 2018
50

OECD
54

OECD Americas
54

US
55

US oil rig count
56

Canada
57

Mexico
58

OECD Europe
59

Norway
59

UK
59

OECD Asia Pacific
60

Developing Countries
60

Other Asia
60

Latin America
60

Brazil
60

Africa
61

FSU
62

Russia
62

Caspian
62

China
63

OPEC NGLs and non-conventional oils
63

OPEC crude oil production
64

World oil supply
65

06 Product Markets and Refinery Operations
66

Product Markets and Refinery Operations
66

Refinery margins
66

Refinery operations
66

Product markets
67

US market
67

European market
68

Asian market
69

07 Tanker Market
72

Tanker Market
72

Spot fixtures
72

Sailings and arrivals
72

Dirty tanker freight rates
73

VLCC
73

Suezmax
74

Aframax
74

Clean tanker freight rates
75

08 Oil Trade
76

Oil Trade
76

US
76

Japan
78

China
79

India
80

FSU
81

09 Stock Movements
84

Stock Movements
84

OECD
84

OECD Americas
85

OECD Europe
85

OECD Asia Pacific
85

EU plus Norway
86

US
87

Japan
88

China
89

Singapore and Amsterdam-Rotterdam-Antwerp (ARA)
90

Singapore
90

Amsterdam-Rotterdam-Antwerp (ARA)
90

10 Balance of Supply and Demand
91

Balance of Supply and Demand
91

Balance of supply and demand in 2017
91

Balance of supply and demand in 2018
91

11 Monthly Endnotes
93

Monthly Endnotes
93

G20 Leaders address Energy & Climate Issues at Hamburg Summit
93

Crude futures markets see expanding share of automated trading
95

Renewables - one solution to reducing energy poverty
96

Despite crude price decline, taxes on petroleum products remain high
98

12 Appendix
99

Appendix
99

13 Glossary of Terms
104

Glossary of Terms
104

Abbreviations
104

Acronyms
105

14 Contributors to the OPEC Monthly Oil Market Report
107

Contributors to the OPEC Monthly Oil Market Report
107

Editor-in-Chief
107

Editor
107

Analysts
107

Statistical services
107

Editing, production, design and circulation
107