Why have oil prices hit USD140 per barrel? How strong will oil demand be in the upcoming years? Will supply of crude oil, natural gas liquids and biofuels be sufficient to meet this future demand? And, no less crucially, what investments in refining capacity and technology can we expect and will these help ease some of the imbalance in strained oil product markets? Now into its third year, the Medium-Term Oil Market Report published by the International Energy Agency (IEA) has become a new benchmark, complementing the short-term market analysis provided in the IEA Oil Market Report.
This year’s edition reappraises all upstream and downstream projects worldwide, setting them against a revised demand forecast and expanding the time horizon to 2013. Special features this year include in-depth analyses of price formation, transport trends, non-OECD economies,non-OPEC production decline, project slippage, key crude export pipeline developments and a stronger emphasis on product supply bottlenecks.
An essential report for all policy makers, market analysts, energy experts and anyone interested in understanding and following oil market trends, the Medium-Term Oil Market Report is a further element of the strong commitment of the IEA to improving and expanding the quality, timeliness and accuracy of energy data and analysis.
Medium-Term Oil Market Report Supplement December 2008 - Refining and Product Supply Outlook