Oil supply increase due in 1996`s second half

Journal Article · Mon Jul 29 04:00:00 EDT 1996 · Oil and Gas Journal

OSTI ID:268151

Beck, R J

The crucial oil-market issue for this year`s second half is new supply. Production will increase again outside the Organization of Petroleum Exporting Countries. And Iraq has general approval to resume exports under limits set by the United Nations, although start of the exports has been delayed by at least 60 days. The big question is the market`s ability to absorb the supply gains. As usual, the market`s need for oil in the second half will depend on economies. So far in 1996, economic growth has pushed consumption to levels unexpected a year ago. Demand the rest of the year depends heavily on economic performances of the industrialized nations that make up the organization for Economic Cooperation and Development (OECD) and the rapidly growing nations of the Asia-Pacific region. Growth in countries elsewhere in the developing world, especially Latin America, remains a wild card. The paper discusses the worldwide outlook, crude oil prices, US product prices, natural gas prices, US economy, US energy demand, natural gas in the US, US oil demand, gasoline prices, distillate gains, resid slumps, LPG, ethane, US supply, production patterns, rise in refinery capacity, imports, stocks, and stock coverage.

• OSTI ID: 268151
• Journal Information: Oil and Gas Journal, Journal Name: Oil and Gas Journal Journal Issue: 31 Vol. 94; ISSN OIGJAV; ISSN 0030-1388
• Country of Publication: United States
• Language: English

Related Subjects

02 PETROLEUM
03 NATURAL GAS
29 ENERGY PLANNING, POLICY, AND ECONOMY
CAPACITY
COMPILED DATA
ENERGY DEMAND
ENERGY EXPENSES
ENERGY SUPPLIES
FORECASTING
FUEL CONSUMPTION
GASOLINE
GLOBAL ASPECTS
INVENTORIES
IRAQ
LIQUEFIED PETROLEUM GASES
MARKET
NATURAL GAS
OPEC
PETROLEUM
PETROLEUM DISTILLATES
PETROLEUM REFINERIES
PETROLEUM RESIDUES
TRADE
USA