Crude oil and condensate production in OPEC member countries and non OPEC countries has been interrupted since last year, according to the hydrocarbon processing network on October 14. These disruptions have led to a reduction in liquid fuel supply, together with a reduction in crude oil production agreed by OPEC and the allies, which has led to a reduction in global liquid fuel stocks since June.
So far in 2020, the average daily oil supply disruption has been 4.6 million barrels per day, reaching 5.2 million barrels in June, the highest level since 2011, when the energy information agency (EIA) began to track monthly interruptions in liquid fuel production. In 2019, global oil supply disruptions averaged 3.1 million barrels a day. In calculating supply disruptions, the EIA does not take into account the closure of oil fields for economic reasons or the decline in oil demand.
Non OPEC oil producers, mainly from the United States and Canada, saw oil supply disruptions rise to nearly 800000 B / D in August. In Canada, due to a coronavirus outbreak at the production site, operators ordered non essential staff to stop working, resulting in production interruption. In the United States, disruptions caused by hurricanes and unplanned maintenance affected oil production this summer. Other non OPEC countries have caused temporary closures for various reasons, such as an outbreak of coronavirus among workers, logistical problems in transporting workers or equipment during the outbreak, fires in Canadian field operations or other natural disasters.
In its short-term energy outlook (steo), EIA released estimates of historically unplanned production disruptions. In the estimation of disruption, the EIA distinguishes between production decline due to unplanned production disruption, permanent capacity loss and voluntary production reduction. The EIA estimates unplanned disruptions based on the difference between the estimated effective capacity (the level of supply available within a year) and the estimated production.