Oil

2016 was a year of adjustment for the oil market, with oil demand again increasing robustly and production growing by less than a quarter (0.4 Mb/d) of that seen in 2015

The drama and intrigue that has characterized oil markets since the price collapse in 2014 have been dominated by two principal actors: US tight oil and OPEC. What have we learnt about the behaviour of both during this cycle?
Spencer Dale, chief economist

Oil market in 2015 and 2016 - consumption (annual change, mb/d)

Oil market in 2015 and 2016 - consumption (annual change, mb/d)

Oil market in 2015 and 2016 - production (annual change, mb/d)

Oil market in 2015 and 2016 - production (annual change, mb/d)

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