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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 - January 2023
…Refinery outages in the US lifted product cracks. Freight rates eased for large crude carriers but rose on product routes ahead of the EU embargo on Russian oil products. Risk management Two wild cards dominate the 2023 oil market outlook: Russia and China. This year could see oil demand rise by 1.9 mb/d to reach 101.7 mb/d, the highest ever, tightening the balances as Russian supply slows under the full impact of sanctions. China will drive nearly half this global demand growth even as the shape and speed of its reopening remains uncertain.Energy efficiency gains...
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Implementing Clean Energy Transitions
Focus on road transport in emerging economies This report assesses the impact of the road transport sector on energy demand, CO2 emissions and air pollution in several selected major emerging economies over the coming decades under several IEA modelling scenarios. Most notably the Announced Pledges Scenario (APS) aims to show to what extent announced ambitions and targets, including the most recent ones, are on the path to deliver emissions reductions required to achieve net zero emissions by 2050.Bringing about a road transport decarbonisation pathway in line with the APS in the selected major emerging economies - Brazil, People’s Republic…
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Clean Energy Transitions Programme 2022
…energy transition. The programme has also played a crucial role in enabling the IEA to strengthen its global leadership role in clean energy transitions at a pace and scale that would otherwise not have been possible, with great benefit to the programme’s focus countries and IEA member countries alike.This CETP Annual Report 2022 provides an overview of the programme’s major achievements in the last year. During this time, the CETP has driven forward an ambitious and impactful agenda, even as the world has contended with multiple overlapping crises. As just some examples, the CETP delivered the Energy…
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Building a Unified National Power Market System in China
Pathways for spot power markets Power markets are an instrument used globally to ensure electricity security while maintaining affordability and incentivising decarbonisation. The People’s Republic of China (hereafter, “China”) has been making big steps towards implementing markets, and the goals announced in 2020 of carbon dioxide emissions peaking before 2030 and carbon neutrality before 2060 have added momentum to expand their footprint. Provinces have taken a leading role in designing and implementing markets. To improve sharing of resources, the guidance to implement a unified national market system pushes for more co-ordination between provinces.The main audience of this…
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A Vision for Clean Cooking Access for All
World Energy Outlook Special Report Nearly one in three people, the vast majority of them in the poorest regions of the world, still lack access to clean cooking facilities, with major ramifications for public health, local environments and socio-economic development. Inhaling hazardous smoke from traditional stoves and open fires causes millions of premature deaths annually, disproportionately affecting women and children. The arduous task of collecting firewood also hinders educational and employment opportunities and strains natural resources – compounding costs for vulnerable populations.The International Energy Agency (IEA) and the African Development Bank Group have joined forces to address this critical…
