Evolution of Market Surplus: 2016 vs. 2015. Demand growth revised up 150 kb/d, non-OPEC supply decline now greater due to lower prices, also, less growth from non-Middle East OPEC members.
Evolution of Market Surplus: 2017 vs. 2016 Other non-OPEC recovers slightly, but US still down. Market becomes balanced in 2017
FGE Long-Term Oil Price Forecast under 4 scenarios