Learn about OPEC production quotes in October 2018 and want to see for 2019


Bloomberg reported that the US oil work has risen to record 11.6 million barrels per day after 400,000 barrels per day rise through the week to 2 November 2018.

The number of drill platform in the United States rises at the fastest speed from May 2018 through the week ending 9th November, 2018, rises 12 drill pipes to 886 platforms.

At the same time, the International Energy Agency (IEA), in the long-term vision, stressed the risk of its & Growth in electric cars and net fuel to demand for transport fuels.

However, in the long run, the world will see a supply crisis if there is not enough investment to expand oil production facilities, the group said.

The increase in long-term demand is driven by business and petrochemical sectors, the IEA report said.

On the side of the supply, the Member State Joint Committee of the Committee and non-OPEC members said 2019 could continue to " record the growth of supply and dragging in global economic growth could increase the gap between demand and supply.

Bloomberg, despite the above, said delegates have published together that they will see how the new trends in the oil market will be developed before the policy plan final production for 2019.

The OPEC average rose for a fifth month just in October 2018 and hit a 33-month high 33.33 million pd, a monthly increase of 430,000 pd, depending on Bloomberg's colors.

However, the output rate of output according to OPEC's advanced operating stores was significantly lower at 127,000 barrel per day to 32.9 million barrels per day.

Libya has been the largest production increase in production, now with the highest yield in five and a half years at 1.22 million bpd, depending on Bloomberg's colors.

Saudi Arabia collected 150,000 barrels per day (bpd) during the month, with an average representation of 10.68 million bpd, the highest recorded by the country, according to Bloomberg data.

The OPEC average representation has risen with more than 1.5 million pd from May 2018, with Saudi Arabia only a half of the increase or 0.71 million pd.

The UAE also raised production levels of up to 80,000 pd to a high level of 3.12 million barrels per day, and the remote output in Iran fell to 3.4 million pd, although OPEC's high level measurement for Iran's production was measured at 3.3 million bpd in October 2018.

As a result of the increase in OPEC production, the promise to the PSA fell to 104 per cent in October 2018 from 111 per cent in September 2018.

The introduction of the global oil growth for 2018 was again reduced, according to the OPEC monthly 40,000 bpd report.

The total demand is expected to rise 1.5 million pd to 98.79 million pd in 2018.

Most of the correction as a result of application data was slower than b & # 39; lower for the Middle East, China and other Asian regions for the third quarter of 2018, and comparing a high growth repression for the OECD division with 50,000 pd.

Within the OECD department, strong US demand grew and was a key factor in raising expectations.

According to monthly data to August 2018 and start-up data for September and October 2018, calls for movements in the United States to become strong compared to the first 10 months of the year.

The main drivers of this growth include petrochemical raw materials such as liquorous natural gas (LNG), solitary natural gas (LNG), diesel in the business sector, linear fuel and kerosene.

Demand for gasoline was still weak due to higher sales prices as well as the benefits of high efficiency in the transport sector as August 2018 data show that year-on-year growth is still horizontal; Despite remote growth in car sales during the month.

On the other hand, the herds that may still be weak for OECD countries compared to historical levels as they are; Request an application in the four main countries (UK, Germany, Italy and France) in August 2018, depending on the demand of Spain, Holland, Turkey, Poland and in several other countries.

In terms of demand for materials from the beginning of 2018 to date, there was a strong demand for gasoline, jet fuel, kerosene, solvent petroleum gas (LPG) and demand for remaining fuel oil, which was negotiated with a lower demand for diesel and naphtha.

In addition, it is expected that flocks in these areas will be consistent throughout the year, although expectations for heating the fuel requirements in the fourth quarter of 2018 can be liked to expects a warmer increase than expected. Demand data for the Middle East was cut with 50,000 barrels per day (bpd), driven by most Saudi Arabia demand, which was protected by efficiency choices and other fuel.

An introduction to China's demand was cut by 30,000 pd for the third quarter of 2018.

Estimates of global oil demand growth for 2019 were reduced by 70,000 barrels per day behind the revised figures outside the organization's Organization for Economic Cooperation and Development (OECD) due to ongoing improvements in the global economy.

It is now expected to have a & # 39; grow by 1.29 million barrel per day to 100.08 million pd.

On the side of the supply, world oil supply rises with 0.44 million barrels per day in October 2018, which includes 99.76 million barrels per day, according to starting colors, the Opposition of higher representatives of OPEC (+ 0.13 million barrels per day) and OPEC-related countries +0.31 million barrels per day).

For full year 2018, supply projections for non-OPEC countries have been modified with 0.09 million barrels per day (bpd) and it is now expected to reach 62.09 million pd.

Expectations for the US, Russia, Kazakhstan and Thailand with 0.24 million barrels per day began to reduce the decline of 0.14 million bpd by Mexico and Norway, the United Kingdom, Brazil and China.

Regarding regional growth, OECD oil suppositions rose to 117,000 barrels per day behind higher expectations for OECD countries, while European countries were the organization for Economic Co-operation The development of its & # 39; downturn.

On the strategies for 2019, the level of OPEC oil supply growth was modified and increased by 0.12 million barrel per day. It is expected that the total supply will reach 62.09 million pd after it has increased 2.23 million pd.

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