-
Energy Policies Beyond IEA Countries: Russia 2014
Russia’s energy sector plays an essential role for the Russian economy, its energy security and global hydrocarbon supplies. Russia holds among the world’s largest resources of gas, oil and coal. Its liquids production has reached historical highs, yet major additional upstream investments and technology upgrades will be needed to sustain these levels in the long term. Its gas production is also at high levels, with Gazprom being the dominant producer, and with other companies now taking significant roles. Since the last IEA review of Russia’s energy policies in 2002, the power sector has also liberalised considerably. The…
-
Oil Market Report - June 2023
The IEA Oil Market Report (OMR) is one of the world's most authoritative and timely sources of data, forecasts and analysis on the global oil market – including detailed statistics and commentary on oil supply, demand, inventories, prices and refining activity, as well as oil trade for IEA and selected non-IEA countries. Highlights World oil demand will grow by 2.4 mb/d in 2023 to 102.3 mb/d, a new record. China’s rebound continues unabated, with its oil demand reaching an all-time high of 16.3 mb/d in April. The non-OECD accounts for…
-
Optimising Russian Natural Gas
Reform and Climate Policy Optimising Russian Natural Gas The world’s largest gas producer and exporter, Russia has an enormous energy saving potential. At least 30 billion cubic meters – a fifth of Russian exports to European OECD countries -- could be saved every year by enhanced technology or energy efficiency. As the era of cheap gas in Russia comes to an end, this potential saving is increasingly important for Russians and importing countries. This book analyses and estimates the potential savings and the associated reductions in greenhouse gas emissions that could be achieved in the oil extraction (flaring), gas transmission and…
-
Oil Market Report - June 2022
The IEA Oil Market Report (OMR) is one of the world's most authoritative and timely sources of data, forecasts and analysis on the global oil market – including detailed statistics and commentary on oil supply, demand, inventories, prices and refining activity, as well as oil trade for IEA and selected non-IEA countries. Highlights World oil demand is forecast to reach 101.6 mb/d in 2023, surpassing pre-pandemic levels. While higher prices and a weaker economic outlook are moderating consumption increases, a resurgent China will drive gains next year, with growth accelerating from 1.8 mb/d in…
-
Oil Market Report - January 2023
…of 870 kb/d due to expected declines in Russia. The US ranks as the world’s leading source of supply growth and, along with Canada, Brazil and Guyana, hits an annual production record for a second straight year.Global refinery activity was steady in December as US runs plunged 910 kb/d due to weather-related outages, but higher runs in Europe and Asia offset the fall. After an increase of 2.1 mb/d in 2022, refinery throughputs are set to grow by 1.5 mb/d in 2023, helped by 2.2 mb/d of capacity additions…
-
Oil Market Report - August 2022
…set for a further 350 kb/d gain this month, when runs will reach their highest level since January 2020. The increase was above refined product demand, driving cracks and refinery margins sharply below the all-time highs seen in June. Global refinery runs are now on track to rise by 2.6 mb/d in 2022 and 1.3 mb/d next year.Russian oil exports fell by 115 kb/d in July to 7.4 mb/d, from about 8 mb/d at the start of the year. Crude and oil product flows to the US, UK, EU…
-
Oil Market Report - March 2022
The IEA Oil Market Report (OMR) is one of the world's most authoritative and timely sources of data, forecasts and analysis on the global oil market – including detailed statistics and commentary on oil supply, demand, inventories, prices and refining activity, as well as oil trade for IEA and selected non-IEA countries. Highlights Surging commodity prices and international sanctions levied against Russia following its invasion of Ukraine are expected to appreciably depress global economic growth. As a result, we have revised down our forecast for world oil demand by 1.3 mb/d for 2Q22-4Q22, resulting in 950…
-
Oil Market Report - November 2017
…forecasts and analysis on the global oil market – including detailed statistics and commentary on oil supply, demand, inventories, prices and refining activity, as well as oil trade for IEA and selected non-IEA countries. Highlights Higher prices and relatively mild early winter temperatures contributed to a downward revision to our demand forecast. Growth has been revised down by 0.1 mb/d for both 2017 and 2018 and we now see increases of 1.5 mb/d in 2017 (or 1.6%), to 97.7 mb/d, and 1.3 mb/d in 2018 (or 1.3%) to 98.9 mb/d.Global oil supply rose 100 kb…
-
Oil Market Report - May 2023
The IEA Oil Market Report (OMR) is one of the world's most authoritative and timely sources of data, forecasts and analysis on the global oil market – including detailed statistics and commentary on oil supply, demand, inventories, prices and refining activity, as well as oil trade for IEA and selected non-IEA countries. Highlights World oil demand is forecast to rise by 2.2 mb/d year-on-year in 2023 to an average 102 mb/d, 200 kb/d above last month’s Report. China’s demand recovery continues to surpass expectations, with the country setting an all-time…
-
Oil Market Report - June 2018
The IEA Oil Market Report (OMR) is one of the world’s most authoritative and timely sources of data, forecasts and analysis on the global oil market – including detailed statistics and commentary on oil supply, demand, inventories, prices and refining activity, as well as oil trade for IEA and selected non-IEA countries. Highlights Our demand growth estimate for 2018 has been left largely unchanged, at 1.4 mb/d. Recent data confirms strong growth in 1Q18 and in early 2Q18, partly due to colder weather in the northern hemisphere. A slowdown is expected in 2H18.For 2019, our first estimate of demand…