Remember me | Forgot password
For full content view: Log in Now!
October global oil supply increased by 1.79 million bpd to 86.46 million bpd, with the largest increase seen in the US as Gulf of Mexico production came back onstream after outages resulting from recent hurricanes.
Crude prices have continued to fall from their highs in previous months. WTI crude averaged about $76 per bbl in October, falling from its high of about $133 per bbl in July. As of printing, WTI was averaging about $50 per bbl.
The current global economic downturn has led to a decrease in energy demand. The IEA recently revised its 2008 and 2009 demand forecasts downward by 330,000 bpd and 670,000 bpd, respectively. Demand is now expected to grow by 120,000 bpd in 2008, to 86.2 million bpd, and by 350,000 bpd in 2009, to 86.5 million bpd. Fourth-quarter global refinery throughput is forecast to average 73.5 million bpd, about 1.4 million bpd lower than IEA’s previous forecast.
This area of the site is restricted.
In order to gain access, please either Log
In, or subscribe to World Oil.
Two options are available to you for creating an account.
1. Get a Free Trial Subscription to World Oil Magazine and gain immediate access to select content on World Oil Online.
Start a Free Trial Subscription and gain immediate access to the complete current issue of World Oil Magazine. Plus, you’ll receive 3 upcoming issues of World Oil Magazine in print or digital format.* You also receive access to the Energy Events Calendar, Industry Statistics and WO Wire’s news and industry coverage.
2. Purchase a subscription to World Oil magazine and gain immediate
and complete access to World Oil Online. As a Total Access subscriber
you will have access to all areas of the site available to registered users and
free subscribers as well as having access to such premium content areas as:
Physical copies of this content may be available for purchase. Visit the Reprints & Back Issues section.
If you are already a paid subscriber and do not have access, please email CustomerService@worldoil.com.
World Oil's specialized upstream Engineering Data Tables featuring the Drill Bit Classifier, Tubing Tables and more. Get Total Access today.
Point Clear, AL - May 19-21
Orlando, FL - May 21-24
Noordwijk - June 5-7
All material subject to strictly enforced copyright laws.
© 2013 World Oil. © 2013 Gulf Publishing Company.