Industry News

摘要

Global oil demand is expected to increase 1.3% y-o-y in 2015. The low oil price has helped to support an uptick in demand, partly by encouraging motorists to drive more and use less efficient vehicles. Nowhere is this trend more obvious than in the US, where oil demand is projected to rise 2% y-o-y in 2015, driven by increased demand for gasoline. However, the weak macroeconomic conditions in Russia, as a result of sanctions and low oil prices, total FSU demand is projected to fall 4% y-o-y in 2015. Total global oil production growth is projected to outpace that of demand in 2015, reaching 1.7% y-o-y to 94.8m bpd. Although US shale oil production has come under pressure from low crude prices, total US crude production is expected to expand 6% y-o-y in 2015. However, recent EIA data shows that towards the end of August total US production had declined w-o-w for several weeks, although it still remains greater than during the same period in 2014.