13 August 2015
World oil supply falls by nearly 600,000 barrels a day
The dip was mainly from non-Opec production, and in July it had fallen to 96.6m b/d
World oil supply fell nearly 600,000 barrels a day (b/d) in July to 96.6m b/d mainly on lower non-Opec production. Despite the monthly fall, total output towered 2.7m b/d above a year earlier, of which Opec crude and natural gas liquids made up nearly 60%. Opec oil supply held steady near a record three-year high in July at 31.79m b/d. Saudi output eased from an all-time high, offsetting another record-smashing month from Iraq and the UAE and slightly higher Iranian production. Total Opec production stood 1.3m b/d above a year ago. The IEA said a stronger demand outlook and slower non-Opec growth have raised the ‘call on Opec crude and stock change’ for 2016 to 30.8m b/d, up 1.4m b/d year-on
Also in this section
19 January 2026
Newfound optimism is emerging that a dormant exploration frontier could become a strategic energy play and—whisper it quietly—Europe’s next offshore opportunity
16 January 2026
The country’s global energy importance and domestic political fate are interlocked, highlighting its outsized oil and gas powers, and the heightened fallout risk
16 January 2026
The global maritime oil transport sector enters 2026 facing a rare convergence of crude oversupply, record newbuild deliveries and the potential easing of several geopolitical disruptions that have shaped trade flows since 2022
15 January 2026
Rebuilding industry, energy dominance and lower energy costs are key goals that remain at odds in 2026
