Oil

Ensuring energy security has been at the centre of the IEA mission since its inception, following the oil crises of the early 1970s. World energy markets continue to be vulnerable to disruptions precipitated by events ranging from geo-political strife to natural disasters. As oil demand and imports continue to grow, the IEA emergency response capability will remain essential.

	 Demand 	 Supply 	 Total Stock Change and Misc 
1Q14	92.1	92.1	0
2Q14	92.2	93	0.8
3Q14	93.4	94.2	0.9
4Q14	93.8	95.4	1.6
1Q15	93.5	95.2	1.7
2Q15	94.4	96.4	2
3Q15	96	97.2	1.2
4Q15	95.3	97.4	2.1
1Q16	95.4	96.7	1.3
2Q16	95.6	96.1	0.5
3Q16	96.7	97	0.3
4Q16	96.8	98.2	1.4
1Q17	96.6	96.7	0
2Q17	97.8	97	-0.8
3Q17	97.9	97.7	-0.1
4Q17	98.5	98.2	-0.3
{
	"title": {
		"text": "Demand/Supply Balance"
	},
	"subtitle": {
		"text": "Click a category in the legend to hide/show on the chart"
	},
	"tooltip": {
		"shared": true,
		"valueSuffix": " Mb/d"
	},
	"chart": {
		"type": "line"
	},
	"plotOptions": {
		"series": {
			"stacking": null,
			"marker": {
				"enabled": false
			}
		}
	},
	"yAxis": [
{
			"title": {
				"text": "Mb/d"
			}
		}, {
			"title": {
				"text": "Mb/d"
			},
"opposite": true
		}
	],
	"legend": {
		"reversed": "true"
	},
	"series": [{"zIndex": 1}, {"zIndex": 2}, {
		"type": "column",
		"yAxis": 1, "zIndex": 0
	}]
}

Note: For scenario purposes only, IEA assumes OPEC Production remains unchanged to end-4Q17

Our work on Oil