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Oil Market Report - 2014 Archives

信息技术2014-12-31IEA邓***

AI智能总结

December: Crude oil markets strengthened due to seasonally higher winter demand in the Atlantic basin. Brent prices were supported by ongoing supply outages in Libya, while WTI prices reflected a surge in domestic refinery throughputs.
January: Prices eased, with WTI trading at $93.70/bbl and Brent at $106.35/bbl.

Fourth Quarter (4Q) 2013: Global oil demand estimate was raised by 135 kb/d due to unexpectedly strong US deliveries, partially offset by curtailments in China and elsewhere.
2013: Growth in oil demand was estimated at around 1.2 mb/d, expected to accelerate to 1.3 mb/d in 2014 as the economy continues to recover.

December: Global supplies decreased by 25 kb/d to 92.23 mb/d, primarily due to a seasonal fall in biofuel output, which cut non-OPEC liquids supplies by 340 kb/d.
OPEC: OPEC crude oil supply rebounded by 310 kb/d to 29.82 mb/d in December, reversing four months of decline. Saudi Arabia and the UAE led the gain, while Iraq was the only member to post a decline. Libya saw only a modest rise amid government expectations of an imminent recovery in oil output.

First Quarter (1Q) 2014: Forecast for global refinery crude runs increased by 110 kb/d since last month’s report, to 76.8 mb/d, driven by surging US crude runs.
Growth: Global throughput growth for 1Q14 is assessed at 1.3 mb/d, up from only 0.3 mb/d in 4Q13, as contractions in Europe ease and new Chinese and Middle Eastern capacity ramps up.

November: Total OECD commercial oil inventories fell by 53.6 mb, the steepest monthly decline since December 2011, led by a plunge in crude oil and 'other products'.
December: Preliminary data indicate a further 42.5 mb draw in OECD inventories.

Market Overview: Futures markets activity levels remained high, with financial regulation continuing to impact market dynamics.
Spot Crude Oil Prices: Spot crude oil prices remain a key focus, reflecting the overall market sentiment.