Selasa, 07 Juni 2016

The problems that until now faced by the world's oil is the drop in oil prices since 2015 last. Growing global oil supply disruptions, rising oil demand, and falling US crude oil production have contributed to the price increase.
In the June Short-Term Energy Outlook, the US Energy Information Administration forecasts Brent crude oil prices to average $43/bbl in 2016 and $52/bbl in 2017, $3/bbl and $1/bbl higher than forecasts in last month’s STEO, respectively.
West Texas Intermediate crude oil prices are forecast to average slightly less than Brent in 2016 and to be the same as Brent in 2017.

Global liquids consumption:

Global consumption of petroleum and other liquid fuels is now continue to increase. estimated to have risen 1.4 million b/d in 2015, 100,000 b/d higher than previously estimated and reflecting upward revisions to 2015 growth in both China and India.

Energy Information Administration (EIA) now expects global oil consumption to rise 1.5 million b/d in both 2016 and 2017. Overall consumption of petroleum and other liquid fuels in countries outside of the Organization for Economic Cooperation and Development increased by an estimated 900,000 b/d in 2015, and it is expected to be 1.3 million b/d in 2016 and 1.4 million b/d in 2017.

The following table regarding changes in oil consumption of China, U.S, more consumption and total world consumption.

EIA expects production outside the Organization of Petroleum Exporting Countries to decline 600,000 b/d in 2016 and 200,000 b/d in 2017, with most of the production declines occurring in the US.

Forecast total US production of liquid fuels declines 500,000 b/d in 2016 and 100,000 b/d in 2017, as declining crude oil production is partially offset by expected growth in hydrocarbon gas liquids production, Gulf of Mexico crude oil production, and liquid biofuels production.


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