There has been an increase in global liquid fuel production interruptions

Since last year, the production of crude oil and condensate in the Organization of Petroleum Exporting Countries (OPEC) and non-OPEC countries has been interrupted. These interruptions have led to a reduction in the supply of liquid fuels, and together with the reduction in crude oil production agreed by OPEC and the Allies, has led to a reduction in global liquid fuel inventories since June.

So far in 2020, the monthly oil supply interruption day is 4.6 million barrels, reaching 5.2 million barrels in June, which is the highest level since 2011, when the U.S. Energy Information Administration (EIA) began to track monthly liquids Disruption of fuel production. In 2019, the global oil supply interruption was 3.1 million barrels per day. When calculating supply disruptions, EIA did not take into account the closure of oil fields due to economic reasons or the decline in oil demand.

The supply of oil from non-OPEC oil-producing countries, mainly from the United States and Canada, rose to nearly 800,000 barrels per day in August. In Canada, due to the outbreak of the coronavirus at the production site, operators ordered non-essential staff to stop work, 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 been temporarily closed due to various reasons, such as the outbreak of the coronavirus among workers, the logistics of transporting workers or equipment during the epidemic, fires in Canadian field operations or other natural disasters.

EIA released historical estimates of unplanned production interruptions in its "Short-Term Energy Outlook" (STEO). In its estimation of interruptions, EIA distinguishes production declines due to unplanned production interruptions, permanent loss of production capacity, and voluntary production cuts. EIA's estimate of unplanned outages is calculated based on the difference between the estimated effective production capacity (the level of supply that can be provided within a year) and the estimated production volume.