OPEC MOMR August 2017
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World Oil Supply

OPEC Monthly Oil Market Report – August 2017

55

World oil supply

Preliminary data indicates that

global oil supply

increased by 0.17 mb/d m-o-m to average 97.30 mb/d in

July 2017, compared with the previous month. The increase of non-OPEC supply (including OPEC NGLs) by

0.52 mb/d to average 64.49 mb/d was mainly driven by Canada, Norway, US, OPEC NGLs, Ghana,

Colombia, Brunei, Africa other and Congo, which partially offset m-o-m declines in the UK, China, Mexico

and Azerbaijan. OPEC crude oil production also increased by 0.17 mb/d in July, leading to an increase in

global oil output. The share of OPEC crude oil in total global production slightly decreased by 0.1 pp to total

33.8% in July compared with 33.9% in June. Estimates are based on preliminary data from direct

communication for non-OPEC supply, OPEC NGLs and non-conventional

o

il, while estimates for

OPEC crude production are based on secondary sources.

Graph 5 - 26: OPEC and world oil supply

32.0

32.9

95.9

97.3

91

92

93

94

95

96

97

98

99

28

29

30

31

32

33

34

Aug 15

Sep 15

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Mar 16

Apr 16

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Jul 16

Aug 16

Sep 16

Oct 16

Nov 16

Dec 16

Jan 17

Feb 17

Mar 17

Apr 17

May 17

Jun 17

Jul 17

mb/d

mb/d

OPEC crude production (LHS)

World supply (RHS)

Source: OPEC Secretariat.