Global Oil Supply & Demand Update September 2022

It's that time of the month again when we update the global supply & demand data. Over the weekend, news came out that the Iran deal looks to be further and further away from concluding. As a result, we are revising our global supply & demand balances. In addition, with China continuing to pursue its "dynamic zero COVID policy", we have adjusted downward projections for non-OECD demand for the rest of the year.

Here is a snapshot of the latest balance update into 2023: