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AlwaysFreeRegister: OPEC: Crude Export Flows To Significantly Change After 2025

Author: SSESSMENTS

The Organization of the Petroleum Exporting Countries (OPEC) in its World Oil Outlook (WOO) 2040 expects no significant change in total global crude trade in the mid-term. The crude exports are seen relatively stable near 38 million bpd through 2024. In terms of regional exports, the biggest change is the significant increase in crude exports from the US & Canada, which are expected to climb to nearly 5 million bpd in 2025, rising by 3 million bpd from 2018. On the other hand, exports from the Middle East are seen to decline to 16.1 million bpd in 2025, from 19.1 million bpd last year.


In the long-term, the outlook changes significantly. Global crude oil exports are expected to rise by 4.5 million bpd from 2025 to 2040 and reach nearly 42 million bpd. Crude exports from the US & Canada are seen to decline to around 3 million bpd by 2040. Meanwhile, total exports from the Middle East are set to increase by about 7 million bpd from 2025 to 2040 and hit levels of around 23 million bpd.


Global crude oil exports by origin*, 2018-2040 (million bpd), Source: OPEC


* Only trade between major regions is considered.







Tags: AlwaysFreeRegister,Crude Oil,EN ALWAYSFREEREGISTER,Energy & Feedstocks,English,World Global crude oil exports,OPEC,OPEC WOO 2040

Published on November 7, 2019 12:47 AM (GMT+8)
Last Updated on January 17, 2020 2:13 AM (GMT+8)