How much extra oil capacity is out there?

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Global liquids production continues to outpace consumption, leading to strong inventory builds throughout the forecast period. Global oil inventory builds in the second quarter of 2015 averaged 2.7 million b/d, rising by 0.8 million b/d compared with the first quarter of the year. The pace of inventory builds is expected to slow in the second half of the year, to roughly 1.8 million b/d. In 2016, inventory builds are expected to slow to an average of 0.9 million b/d.

 

 

 

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  • Chance Gristy
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