Oil Market Dynamics and Saudi fiscal challenges
Oil Market ReportOil Market Dynamics and Saudi fiscal challenges
The Outlook for Unconventional Oil Gas Production Full report
Oil Market ReportThe Outlook for Unconventional Oil Gas Production Full report
Quarterly Oil Market Update (Q2 2014)
Oil Market ReportGlobal oil demand in Q2 2014 increased by 1 million barrels per day (mbpd) year-on-year, whilst falls in OPEC production saw global supply limited to increases of 0.4 mbpd, year-on-year. Non-OPEC supply will exceed global demand growth in 2014 but geopolitical events will prevent any sustained fall in oil prices. As a result, we have revised our Brent oil forecasts upwards from $105 per barrel previously, to an average of $109 per barrel for 2014. We have also revised our Saudi crude production forecasts upwards to 9.7 mbpd for 2014, from 9.4 mbpd previously.
