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Oil Market Report - December 2017
…demand, inventories, prices and refining activity, as well as oil trade for IEA and selected non-IEA countries. Highlights Our forecast for global demand growth remains unchanged at 1.5 mb/d in 2017 (or 1.6%) and 1.3 mb/d in 2018 (or 1.3%). Revisions have been made to data for Nigeria, Germany and Iraq. The baseline for oil demand has been raised by roughly 0.2 mb/d.Global oil supply rose 0.2 mb/d in November to 97.8 mb/d, the highest in a year, on the back of rising US production. Output was nonetheless down 1.1 mb…
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Latin America Energy Outlook 2023
World Energy Outlook Special Report Latin America and the Caribbean is a region that stands out in the global energy sector. It boasts extraordinary natural resources – both fossil fuels and renewable energy – and a significant share of the world’s critical minerals. It also has a history of ambitious policy making in pursuit of stronger energy security and greater sustainability that has delivered one of the cleanest electricity mixes in the world. As the region emerges from a period of sluggish economic growth, countries in Latin America and the Caribbean now stand to leverage these resources to revitalise their economies…
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Energy Policies of IEA Countries: Canada 2015 Review
…and investment in the energy sector over the past five years. The medium-term outlook for gas/oil production and exports, however, is challenging amid uncertainties around pipeline developments and an era of low prices, abundant global supplies and surging production in the United States, Canada’s main export market. Canada maintains the highest energy supply per capita among IEA member countries. Emissions from the oil and gas sectors increased by 14% in 2005-13, despite Canada’s low-carbon electricity mix (largely hydro and nuclear). The federal government, with the provinces, has put forward stringent energy efficiency and emission…
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Energy Efficiency Potential in Canada
…long-term estimates of Canada’s maximum energy efficiency potential by end-use sector based in the modelling approach used in the IEA World Energy Outlook 2017. Canada is one of the world’s most energy-intensive economies owing to its large size, cold climate, high standard of living and expanding energy industry. Energy demand has grown at 0.8% per year on average for the past 15 years, and this rate of growth is projected to continue under the IEA Current Policies Scenario, which assumes no new policies or changes to policies already enacted. An alternative scenario, the Energy Efficiency Case…
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Oil Market Report - June 2018
…Non-OPEC supply will grow by 2.0 mb/d in 2018, easing slightly to 1.7 mb/d.OPEC crude supply edged up 50 kb/d in May to 31.69 mb/d. Higher flows from Saudi Arabia, Iraq and Algeria offset a fall in Nigeria and further declines in Venezuela. While the call on OPEC is set to ease in 2019, potential losses from Venezuela and Iran could require others to produce more.OECD commercial stocks declined 3.1 mb in April to a new three-year low of 2 809 mb. Middle distillate holdings fell 7.4 mb in April and were significantly below the…
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Oil Market Report - February 2021
…fall by 1 mb/d in 1Q21 from already low 4Q20 levels, a more favourable economic outlook underpins stronger demand in the second half of the year. The incorporation of new data lowered the 2019 baseline by 330 kb/d.Global oil supply rose 590 kb/d in January, to 93.6 mb/d, as OPEC+ cuts eased and non-OPEC+ pumped more. In February, global output is set to fall as Saudi Arabia implements a sizeable voluntary cut. The outlook is improving for countries outside the OPEC+ alliance, with an 830 kb/d gain expected in 2021 versus a…
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Energy Policies of IEA Countries: Canada 2000
Energy Policy Review Energy Policies of IEA Countries: Canada 2000 The International Energy Agency's 2000 review of Canada's energy policies and programmes. It finds that successful regulatory reform of the gas market has contributed to rapid growth in exports of gas to the US. Encouraged by potential trade benefits flowing from regulatory reform of the electricity market, and benefits flowing to Canadian consumers, some provinces have also undertaken major regulatory reform of the electricity industries in their jurisdictions. Development of Canada’s huge resources of oil sands and heavy oil have supplemented continuing development of conventional oil. These…
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Oil Market Report - May 2023
…the country setting an all-time record in March at 16 mb/d. While the OECD is set to return to growth in 2Q23, its average 2023 increase of 350 kb/d pales in comparison with 1.9 mb/d in non-OECD gains.Significant outages in Iraq, Nigeria and Brazil were only partly offset by increases elsewhere, with global oil supply down by 230 kb/d to 101.1 mb/d in April. Steeper losses are in store for May as wildfires shut in Canadian barrels and extra cuts from some OPEC+ producers take effect. From April through December…
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Oil Market Report - November 2018
…demand, inventories, prices and refining activity, as well as oil trade for IEA and selected non-IEA countries. Highlights The outlook for global oil demand growth is largely unchanged at 1.3 mb/d in 2018 and 1.4 mb/d in 2019, as a weaker economy is largely offset by lower oil prices. OECD demand is expected to increase by 355 kb/d in 2018, slowing to 285 kb/d in 2019.Oil demand is slowing in several non-OECD countries, as the impact of higher year-on-year prices is amplified by currency devaluations and slowing economic activity. Our non-OECD demand forecast…
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Oil Market Report - September 2018
…US. Non-OPEC production will grow by 2 mb/d in 2018 and 1.8 mb/d in 2019.OPEC crude supply rose to a nine-month high of 32.63 mb/d in August. A rebound in Libya, near record Iraqi output and higher volumes from Nigeria and Saudi Arabia outweighed a substantial reduction in Iran and a further fall in Venezuela.From August's record rate of 83.5 mb/d, global crude runs decline due to maintenance before surging in December to another record high of 84.5 mb/d. US refining is booming with runs almost reaching 18 mb/d in August, while…