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 12:47 2016 Thursday ,01 September

'La La Land' musical masterpiece dazzles Venice film fest

GMT 12:42 2017 Monday ,20 February

Dalia al-Behairy begins 'Yawmiyat Zoga Mafrosa'

GMT 19:01 2017 Wednesday ,30 August

Oil prices down as US reels from Harvey

GMT 04:19 2017 Monday ,08 May

National forces attack mercenaries in Taiz

GMT 19:21 2017 Sunday ,07 May

Iranian Film Week opens in Baghdad

GMT 21:33 2017 Sunday ,30 July

Arab Quartet meeting kicks off in Bahrain

GMT 17:17 2016 Friday ,07 October

Aleppo bleeds as US and Russia spar

GMT 12:03 2015 Monday ,21 December

Nepal protester killed in constitutional crisis clash

GMT 09:47 2016 Thursday ,22 December

Trump vows to cut F-35 spending, as leaked memo

GMT 21:44 2017 Friday ,15 December

King establishes Hawar Development Committee

GMT 20:57 2017 Tuesday ,16 May

Naval Forces rescue 23 tourists in Hurghada

GMT 12:56 2017 Monday ,11 December

Lyon leave it late, Balotelli with Nice winner

GMT 06:18 2017 Thursday ,19 October

Russian delegation meets with Julphar chairman

GMT 21:20 2017 Monday ,23 October

Nasr, delegation of London Stock Exchange
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