iaes omr estimate of decline in nonopec output for 2016 is cut by 12
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

IAE's OMR: Estimate of decline in non-OPEC output for 2016 is cut by 12%

Arab Today, arab today

Arab Today, arab today IAE's OMR: Estimate of decline in non-OPEC output for 2016 is cut by 12%

OPEC
Pairs - WAM

Global oil supplies eased by 180 000 barrels per day (180 kb/d) in February, to 96.5 m barrels per day (mb/d), on lower OPEC and non-OPEC output, according to the newly released IEA Oil Market Report (OMR) for March. But production stood 1.8 mb/d above a year earlier, as a slight decline in non-OPEC was more than offset by OPEC gains. Non-OPEC production in 2016 is estimated to fall by 750 kb/d, to 57.0 mb/d, 100 kb/d less than foreseen in last month’s Report.

OPEC crude oil production eased by 90 kb/d in February to a still-robust 32.61 mb/d with losses from Iraq, Nigeria and the United Arab Emirates partly offset by a substantial rise in flows from post-sanctions Iran. Saudi Arabia, OPEC’s largest producer, held supplies steady.

Sharp decelerations in demand growth – particularly in the United States and China – pulled global growth down to a one-year low of 1.2 mb/d in the fourth quarter of last year compared with the year earlier, dramatically below the near five-year high of 2.3 mb/d in the previous quarter. A gain of around 1.2 mb/d is forecast for 2016.

OECD commercial inventories gained 20.2 mb in January while forward demand cover remained comfortable at 32.7 days. Preliminary data suggest that in February, OECD inventories drew for the first time in a year while volumes of crude held in floating storage increased.

Global refinery throughputs are estimated at 79.1 mb/d in the current quarter, reflecting weak OECD refinery throughput and a shift of peak spring maintenance to this quarter. Annual growth in the fourth quarter of last year fell to below 1 mb/d amid product stock builds and in line with a slowdown in global oil demand growth.

The March OMR examines in-depth the proposed offer by Saudi Arabia, Venezuela, Qatar and Russia to freeze production at January levels and also features a focus on the changing nature of second-quarter oil demand particularly as non-OECD consumers rise in prominence.

Source:WAM

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

iaes omr estimate of decline in nonopec output for 2016 is cut by 12 iaes omr estimate of decline in nonopec output for 2016 is cut by 12

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

iaes omr estimate of decline in nonopec output for 2016 is cut by 12 iaes omr estimate of decline in nonopec output for 2016 is cut by 12

 



GMT 23:24 2017 Tuesday ,24 January

Mofida Shiha prefers social TV programs to politics

GMT 21:23 2017 Sunday ,13 August

Fierce clashes between Daesh, SDF in Raqqah

GMT 19:31 2017 Monday ,16 October

Azhar Imam, Mufti to inaugurate international Fatwa

GMT 18:33 2017 Tuesday ,28 March

S. Korea Preparing for N. Korean ICBM Launch

GMT 23:39 2017 Tuesday ,19 September

Iran recruits Afghans, Pakistanis to fight in Syria

GMT 03:51 2017 Saturday ,11 November

'Lazarus' Daly says recovery no miracle

GMT 13:30 2017 Friday ,17 February

Four killed in Kashmir Gun battle

GMT 18:51 2017 Friday ,17 November

FIA WEC Bapco 6 Hours of Bahrain weekend starts
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday