IOGP Global Production Report 2019 and Production Indicator©

Abstract

This paper builds on the International Association of Oil & Gas Producers’ (IOGP) Global Production Report 2019, published in November 2019. The Report provides an incisive look at the world’s oil and gas production and demand trends in seven regions: Africa, Asia–Pacific, Commonwealth of Independent States (CIS), Europe, the Middle East, North America and Central and South America. By dividing daily production in thousands of barrels for oil (and billion cubic metres per year) by demand within each region, the Report provides a unique IOGP Production Indicator© (PI), which demonstrates regional self-sufficiency as well as export potential. Based on the latest BP Statistical Review of World Energy, published in June 2019, the Report draws its conclusions from 2018 data. This paper analyses the data and trends supplied by the Report, extrapolating the main messages revealed by the figures. At the core of the paper are analyses of and comparisons among the regional oil and gas PIs of the Global Production Report 2019. Through the PI, this paper looks ahead and considers the implications of regional production versus demand (both oil and gas) for each region, presenting key conclusions stemming from the PIs in different parts of the world.