Medium-Term Oil Market Report 2014

As the supply revolution enters a new phase, oil’s role in the global energy mix is being redefined. More than ever, getting a handle on these developments is key to ensuring that energy security is maintained or enhanced, investment is appropriately targeted and resources are optimally leveraged. That makes the Medium-Term Oil Market Report's insights into the oil market for the next five years essential reading for energy industry and market stakeholders, policy makers and all those interested in energy and the broader economy.

This book examines the non-conventional supply revolution that is transforming the North American oil patch that has been widely recognised as a game changer for the oil markets and looks at how this transformation is playing out against the backdrop of other relevant market developments. It asks how long can the US oil boom can be expected to last, and what will it take for other countries to replicate this success story.

It explores what is holding up OPEC supply growth, what OPEC production capacity will look like by the end of the decade, and how the market will absorb growing condensate and natural gas liquids supplies in the United States and elsewhere. It examines whether the recovery in global oil demand will gain momentum, or if “peak demand” is just around the corner and whether oil is losing its grip on transport fuels.

It also examines whether US progress towards oil independence is a step forward or a step back for crude markets and for Middle East downstream forays. And finally it explores who will be the winners and losers of global refining capacity growth, and how will it affect the way refined products are delivered to consumers.

Content:
+ Foreword

+ Acknowledgements

+ Executive summary
-The non-conventional supply revolution enters a new phase
-OPEC supply experiencing turbulence
-The policy ground is shifting under the biofuel industry
-An inflexion point in demand growth
-OPEC spare production capacity may be lower than it appears
-In crude trade, all roads lead to Asia
-The refining industry enters the age of globalisation
-Is a gasoline glut the latest threat to supply?
-Key policy outcomes loom large in the medium term
-Other market-related medium-term developments

+ 1. Demand
-Summary
-Overview
-OECD
--Americas
--Europe
--Asia Oceania
-Non-OECD
--Asia
--Middle East
--Latin America
--Former Soviet Union
--Africa
--Non-OECD Europe
-Transport sector
-Power generation sector
-Residential sector
-Petrochemical sector

+ 2. Supply
-Summary
-Trends in global supply
-OPEC supply
--Capacity growth centered in the Middle East
--OPEC’s African producers face myriad problems
--Production capacity in Venezuela and Ecuador on upward trend
--OPEC gas liquids supply
-Non-OPEC supply
--Revisions
--OECD Americas
--North Sea
--Latin America
--Former Soviet Union
--Non-OECD Asia
--Middle East
--Africa
-Biofuels supply
--The policy ground is shifting under the biofuels industry
--Advanced biofuels industry

+ 3. Crude trade
-Summary
-Overview and methodology
-Regional developments
--Middle East
--Africa
--The Former Soviet Union
--Latin America
--OECD Americas
--Europe
--OECD Asia Oceania
--Non-OECD Asia
--Implications for the tanker market

+ 4. Refining and product supply
-Summary
-Refinery investment overview
-Refinery utilisation and throughputs
Product supply balances
--Light distillates
--Middle distillates
--Fuel
-Regional developments
--OECD Americas
--Europe
--OECD Asia Oceania
--China
--Non-OECD Other Asia
--Middle East
--Latin America
--Africa

+ 5. Tables

Website: OECD iLibrary http://www.oecd-ilibrary.org/

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