The Standing Group on the Oil Market (SOM) monitors and anlyses short- and medium-term developments in the international oil market to help IEA member countries react promptly and effectively to changes in market conditions. The group works closely with the Standing Group on Emergency Questions (SEQ) in helping the SEQ to develop plans for responding to oil supply disruptions.

The SOM prepares current oil market assessments from information submitted by member governments, international oil companies and others. Issues covered include: exploration and production developments, demand, price and refining trends, and international trade in petroleum products. The group collects and analyses information on world oil supply and demand, stock levels and changes, oil imports and exports, refinery operations, and prices.

The SOM holds conferences on a bi-annual basis and is responsible for the influential IEA monthly Oil Market Report, which is available on a subscription basis.