Oil Market Report - October 2017

Building on Success

Highlights

• Demand Growth:

  • 2Q17: 2.2 mb/d (year-on-year)
  • 3Q17: 1.2 mb/d (year-on-year)
  • 2017 Forecast: 1.6 mb/d
  • 2018 Forecast: 1.4 mb/d

• Supply:

  • September 2017: 97.5 mb/d (up 90 kb/d from August)
  • Non-OPEC Supply:
    • 2017: +0.7 mb/d
    • 2018: +1.5 mb/d

• OPEC Crude Output:

  • September 2017: 32.65 mb/d (down 400 kb/d from August)
  • Compliance: 86% year-to-date

• Stocks:

  • August 2017: Fell 14.2 mb from July
  • Five-Year Average Surplus: Fell to 170 mb

• Prices:

  • Benchmark Crude: Increased by $2-4/bbl in September
  • Middle Distillate Prices: Increased almost twice as fast as crude prices

• Refinery Throughput:

  • 2017 Q4: 80.9 mb/d (up 0.1 mb/d quarter-on-quarter)
  • 2018 January: 1.2 mb/d year-on-year growth
  • December 2017: Declined by 0.4 mb/d to 81.6 mb/d

• Global Balances:

  • Crude: Drawing in by 0.1 mb/d
  • Product: Drawing in by 0.2 mb/d

Publishing Schedule - 2018

• January 19, 2018
• February 13, 2018
• March 15, 2018
• April 13, 2018
• May 16, 2018
• June 13, 2018
• July 12, 2018
• August 10, 2018
• September 13, 2018
• October 12, 2018
• November 14, 2018
• December 13, 2018

Market Report Series Oil 2018 Edition

• March 5, 2018

Table of Contents

• Highlights
• Demand
  • Summary
  • Global Overview
  • OECD
  • Non-OECD
  • Other Non-OECD
  • Saudi Arabia's Product Demand Swings
• Supply
  • Summary
  • OPEC Crude Oil Supply
  • Non-OECD Overview
  • OECD
  • North America
  • North Sea
  • Former Soviet Union
  • Asia
  • Latin America
• Stocks
  • Summary
  • Global Overview
  • OECD Inventory Position at End-August and Revisions to Preliminary Data
  • Did Global Oil Stocks Draw in 3Q17?
  • Recent OECD Industry Stock Changes
  • OECD Americas
  • OECD Europe
  • OECD Asia Oceania
  • Other Stock Developments
• Prices
  • Summary
  • Market Overview
  • Futures Markets
  • Spot Crude Oil Prices
  • Spot Product Prices