Each month we publish estimates of key global oil market indicators that affect crude oil prices and movements in our Short-Term Energy Outlook (STEO). Among the most important indicators for global crude oil markets are estimates of OPEC’s effective crude oil production capacity and surplus production capacity, as well as any disruptions to liquid fuels production. Low surplus production capacity among OPEC countries can put upward pressure on crude oil prices in the event of unplanned supply disruptions or strong growth in global oil demand.

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