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OPEC's Annual Statistical Bulletin
2013-07-30 11:37:48
WAM VIENNA, AUSTRIA, 29th July, 2013 (WAM) -- The OPEC Secretariat has announced the release of the online edition of its 2013 Annual Statistical Bulletin (ASB).

Now in its 48th year, the ASB provides detailed time-series data on many different aspects of the global petroleum industry -- including imports and exports, as well as exploration, production and transportation activities.

The ASB especially brings together key statistical data on oil and natural gas activities in each of OPEC's 12 Member Countries: Algeria, Angola, Ecuador, the Islamic Republic of Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, the United Arab Emirates and Venezuela. It also provides comparable industry data for non-OPEC countries around the world.

This year's ASB includes the following important highlights: In 2012, world crude oil production increased by 3.4% over 2011, with the bulk of the increases coming from North America, Africa and the Middle East. In contrast, crude production in Western Europe and Latin America showed some decline. Crude oil production in OPEC Member Countries was up 7.6% to 32.4 mb/d in 2012. Their overall share of total global crude production at the end of 2012 stood at 44.5%, slightly above the 2011 share of 42.7%.

World oil demand rose by 0.9% in 2012, with the largest increases taking place in emerging economies, as in 2011. The main increases took place in the Middle East, Asia and Pacific countries (particularly China, Japan and India), as well as in Latin America (particularly Brazil). Total OECD oil demand decreased by 1.1% in 2012, while oil demand in OPEC Member Countries increased by 3.9% during 2012, year-on-year.

The majority of exported crude oil from OPEC Member Countries during 2012 went to Asian and Pacific countries (14.4 mb/d or 57.1%). Large shares of crude oil exports from OPEC Member Countries also went to North America (4.6 mb/d or 18.3%) and Europe (4.1 mb/d or 16.3%).

World crude oil reserves were 0.9% higher at the end of 2012, compared to 2011, with the largest non-OPEC additions coming from China and Russia. Proven crude oil reserves in OPEC Member Countries showed a slight increase of 0.2% during 2012 to reach more than 1,200 billion barrels. The overall OPEC percentage share at the end of 2012 stood at 81.2%.

OPEC Member Countries remained important players in the natural gas market during 2012, with proven natural gas reserves of 95,132 billion standard cubic metres. This marked an increase of 0.2% from 2011, with a total world share of 47.5%.

The refinery capacity of OPEC Member Countries fell by 1.4% during 2012 compared to 2011. OPEC Member Countries held 10.5% of total world refinery capacity during 2012 compared to 10.8% in 2011.

OPEC Member Countries exported 4.4 mb/d of petroleum products during 2012, with the biggest share going to Asian and Pacific countries (2.2 mb/d or 50.5%). European and Latin American countries had smaller shares (0.6 mb/d or 14.7% and 0.5 mb/d or 12.1%, respectively).

The OPEC Reference Basket (ORB) averaged $109.45/barrel in 2012, up from $107.46/barrel in 2011. This represented an increase of $1.99/barrel or 1.9%) with a volatility of $7.96/barrel or a difference of 7.3% relative to the yearly average. The minimum monthly average crude price was $93.98/barrel in June 2012 and the maximum was $122.97/barrel in March 2012.

This year's edition of the ASB is also available in pdf format. To download the pdf version, please visit the OPEC website. The print edition of the ASB will be released alongside the World Oil Outlook later this year at a Press Conference on 7th November.

Hussein Aoun WAM/HM/CM
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