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Events news and events: Events

Launch of Medium-Term Oil Market Report

Paris: 14 May 2013


The global oil market will undergo sweeping changes over the next five years. The newly released  Medium-Term Oil Market Report 2013 evaluates the impact of these changes on the global oil system by 2018 based on all that we know today – current expectations of economic growth, existing or announced policies and regulations, commercially proven technologies, field decline rates, investment programmes (upstream, midstream and downstream), etc. The five-year forecast period corresponds to the length of the typical investment cycle and as such is critical to policymakers and market participants.

This Report shows, in detailed but concise terms, why the ongoing North American hydrocarbon revolution is a “game changer”. The region’s expected contribution to supply growth, however impressive, is only part of the story: Crude quality, infrastructure requirements, current regulations, and the potential for replication elsewhere are bound to spark a chain reaction that will leave few links in the global oil supply chain unaffected.

These and other changes are carefully laid out in this Report, which also examines recent and future changes in global oil storage, shifts in OPEC production capacity and crude and product trade, and the consequences of the ongoing refinery construction boom in emerging markets and developing economies.

Medium-Term Oil Market Report is required reading for anyone engaged in policy or investment decision-making in the energy sphere, and those more broadly interested in the oil market and the global economy. It is now available for sale at the IEA bookshop.