21 May 2015
Global supply holding steady at 3.2m b/d
Data from the International Energy Agency has showed growth in global oil supply
Despite slowing US light tight oil output, global oil supply growth remained at a steep 3.2 million barrels per day (b/d) year-on-year in April. At 95.7m b/d, total oil supplies were flat from March as higher Opec output offset a drop in non-Opec data from the International Energy Agency (IEA) showed. Still, non-Opec supply growth for 2015 is projected to reach 830,000 b/d, up by 200,000 b/d, since the IEA’s last report, on surprisingly strong output in the first quarter from a number of countries, including Russia, China, Colombia, Vietnam and Malaysia. Opec output increased by 160,000 b/d to total 31.21m b/d in April – the highest since September 2012 – as Iraq and Iran boosted output and
Also in this section
23 April 2026
The addition of an oil pipeline to the Power of Siberia 2 gas project could ensure deliveries of Russian oil to China, materially shorten logistics lines between West Siberia and final customers, and—amid disruption in the Strait of Hormuz—offer a land-based export route that reduces exposure to maritime chokepoints
23 April 2026
There is a clear push to bolster exports to Asia amid uncertainty around its North American neighbour, but there are limits to the benefits from the energy crisis
23 April 2026
Shell made the play-opening discovery in Namibia’s Orange basin back in 2022, but its next well could decide whether the project can actually be commercialised
22 April 2026
The failure of OMV Petrom’s keenly watched exploration campaign at Bulgaria’s Han Asparuh block highlights the Black Sea’s uneven track record, despite major successes like Neptun Deep and Sakarya
