Full Title: Global oil supply. Will mature field declines drive the next supply crunch?
Author(s): Kim Fustier, Gordon Gray, Christoffer Gundersen and Thomas Hilboldt
Publisher(s): HSBC Global Research
Publication Date: September 1, 2016
Full Text: Download Resource
Description (excerpt):
- We look in depth at oil production decline rates and their implications for the long-term oil supply outlook; an issue receiving little attention in the current oversupplied market
- We see the oil market back in balance in 2017, with little spare capacity. Thereafter, accelerating decline rates are set to be a key factor in increasing market tightness
- Impending supply constraints are a key factor behind our USD75/b long-term (2018e and beyond) price assumption