Annual Report 2016
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Oil market developments

17

of unconventional liquids. Processing gains grew by

10 tb/d to reach an average of 2.18 mb/d in 2016.

OECD saw the greatest yearly decline among regions of

0.47 mb/d, predominantly from OECD Americas. OPEC

crude oil production rose in 2016 by 0.96 mb/d to av-

erage 32.47 mb/d. Moreover, OPEC NGLs and uncon-

ventional liquids grew by 0.14 mb/d to average 6.08

mb/d in 2016. In general, an oversupply of 1.28 mb/d

was seen in the world in 2016, assuming total global

demand of 94.62 mb/d.

Note

Totals may not add up due to independent rounding.

Source

OPEC Secretariat assessment of selected secondary sources.

Table 5

OPEC crude oil production based on secondary sources, 2012–2016

(1,000 b/d)

Algeria

1,209 1,157 1,123 1,106 1,091 1,084 1,090 1,089 1,088 –17

Angola

1,736 1,737 1,654 1,753 1,765 1,772 1,761 1,623 1,730 –23

Ecuador

499 518 544 544 543 550 547 543 546

2

Indonesia

237 226 222 220 222 219 219 209 217

–3

IR Iran

2,985 2,672 2,778 2,838 3,094 3,539 3,646 3,725 3,502 664

Iraq

2,980 3,035 3,269 3,935 4,238 4,290 4,396 4,601 4,382 447

Kuwait

2,794 2,814 2,783 2,771 2,842 2,799 2,879 2,876 2,849

78

Libya

1,394 927 470 405 370 312 311 571 391 –13

Nigeria

2,060 1,896 1,944 1,861 1,782 1,541 1,417 1,570 1,577 –284

Qatar

750 731 714 666 667 662 652 645 656

–9

Saudi Arabia

9,760 9,611 9,688 10,142 10,181 10,299 10,596 10,544 10,406 264

UAE

2,624 2,742 2,773 2,898 2,858 2,921 3,004 3,082 2,967

68

Venezuela

2,392 2,389 2,361 2,367 2,285 2,182 2,112 2,056 2,159 –208

Total OPEC 31,420 30,456 30,323 31,506 31,939 32,168 32,629 33,135 32,470 964

2012 2013 2014 2015 1Q16 2Q16 3Q16 4Q16 2016 2016/15

Change

Non-OPEC supply

The non-OPEC liquids supply averaged 57.34 mb/d in

2016, a contraction of 0.66mb/d over the previous year.

Declines were driven by OECD Americas, with the US be-

ing the main contributor, followed by Mexico. Declines

were also seen in other regions, including developing

countries (DCs) in Latin America and Africa, as well as

China. On the other hand, oil supply in the former Soviet

Union region increased in 2016, mainly in Russia.