Global Supply Starts 2022 Flat

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The global supply of liquids was virtually flat in January at just under 99 million b/d. A slight decline in liquids output by non-Opec-plus was offset by an uptick by Opec-plus. Canadian output, for example, dropped by 100,000 b/d, while US supply grew by 116,000 b/d. Global crude supplies increased by 325,000 b/d to 76.16 million b/d, with the gain roughly distributed even between Opec-plus and producers not aligned with the alliance.

Crude Oil, Oil Supply
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