MOMR October 2017
Table of Contents Table of Contents
Previous Page  55 / 106 Next Page
Information
Show Menu
Previous Page 55 / 106 Next Page
Page Background

World Oil Supply

OPEC Monthly Oil Market Report – October 2017

47

Non-OPEC oil supply in 2017 and 2018

Table 5 - 3: Non-OPEC supply forecast comparison in 2017* and 2018*, mb/d

OECD

OECD liquids production

in 2017 was revised down by 21 tb/d, mainly due to a downward revision in 3Q17

by 78 tb/d. OECD Americas had the largest downward revision by 144 tb/d, followed by 20 tb/d from OECD

Asia Pacific, offset by an upward adjustment of 86 tb/d for OECD Europe - which is now expected to

increase by 0.62 mb/d to average 25.46 mb/d in 2017.

For 2018, OECD supply is forecast to average 26.46 mb/d, representing growth of 1.00 mb/d, mainly from

OECD Americas.

OECD Americas

OECD Americas’ oil supply

in 2017 is predicted to average 21.21 mb/d, an increase of 0.60 mb/d y-o-y.

The oil supply forecast was revised down by 48 tb/d this month owing to the downward adjustment of

historical data in 3Q17 by 144 tb/d and in 4Q17 by 40 tb/d due to the revision of the forecast. Oil supply in

the US and Canada will grow while a contraction is expected in Mexico.

In 2018, supply in OECD Americas is expected to grow by 0.88 mb/d to average 22.09 mb/d. US and

Canadian oil supply is expected to grow, while a continuation of the annual decline in Mexico is anticipated

for next year.

Change

Change

2017

2017/16

2018

2018/17

OECD Americas

21.21

0.60

22.09

0.88

OECD Europe

3.85

0.04

3.93

0.08

OECD Asia Pacific

0.40

-0.02

0.45

0.04

Total OECD

25.46

0.62

26.46

1.00

Other Asia

3.65

-0.07

3.61

-0.04

Latin America

5.25

0.14

5.39

0.14

Middle East

1.24

-0.04

1.19

-0.05

Africa

1.85

0.05

1.90

0.04

Total DCs

11.98

0.09

12.08

0.10

FSU

13.94

0.08

13.93

-0.01

Other Europe

0.13

0.00

0.13

0.00

China

3.98

-0.12

3.81

-0.17

Non-OPEC production

55.49

0.67

56.40

0.91

Processing gains

2.21

0.01

2.23

0.03

Non-OPEC supply

57.69

0.68

58.64

0.94

Note: * 2017 and 2018 = Forecast.

Source: OPEC Secretariat.

Region