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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…
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Oil Market Report - January 2017
…Non-OPEC supplies are forecast to grow by 385 kb/d in 2017, as higher prices in the wake of an anticipated coordinated supply cut stimulate increased investment in the US. Recovering LTO production underpins a 320 kb/d gain in total US output this year.OECD industry stocks fell across crude and oil products in November, marking a fourth consecutive monthly decline. Taking into account preliminary data for December, stocks are 82 mb below July's historical peak, even if for now they remain above the symbolic 3 000 mb level.Oil prices rose in early December and stayed within a $53-57/bbl range…
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Oil Market Report - October 2018
…now and end-2019. After increasing by 0.9 mb/d this year, refinery runs will grow by 1.3 mb/d in 2019, while refined product demand growth is only 1 mb/d.OECD commercial stocks rose 15.7 mb in August to 2 854 mb, their highest level since February, on strong refinery output and LPG restocking. OECD inventories are likely to have risen by 43 mb (470 kb/d) in 3Q18, the largest quarterly increase in stocks since 1Q16.ICE Brent prices reached four-year highs above $85/bbl in early October. The Brent-WTI differential has widened to $9/bbl as US price increases…
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Oil Market Report - August 2017
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 New data for non-OECD countries for 2015 reduces global oil demand by an average 330 kb/d in 2015-2018. For 2017, growth has been revised up to 1.5 mb/d, with demand reaching 97.6 mb/d. In 2018, growth slows slightly to 1.4 mb/d when…
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Oil Market Report - July 2019
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 Global demand growth is set to accelerate from an exceptionally weak 310 kb/d in 1Q19 and 800 kb/d in 2Q19 to reach 1.8 mb/d in the second half of the year as economic activity improves and petrochemical plants ramp up. For 2020, the pace of growth will…
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Oil Market Report - December 2018
…oil prices stabilised with ICE Brent close to $60/bbl and NYMEX WTI at $52/bbl. Weak demand weighed on gasoline and naphtha markets. Freight rates to transport crude and products have soared to multi-year highs. Highlights Our estimate of 2018 oil demand growth is largely unchanged at 1.3 mb/d. Non-OECD data for September and October confirm an expected slowdown due to relatively high prices, although OECD demand has been slightly revised upwards, for 4Q18.Our projection for oil demand growth in 2019 remains also unchanged, at 1.4 mb/d, as the impact of lower prices is offset by…
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Oil Market Report - November 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 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…
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Oil Market Report - June 2017
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 Recent weaknesses in demand growth are likely to prove transitory, particularly in post currency-reform India. Although global growth was only 0.9 mb/d in 1Q17, it accelerates in 2H17 and for the year as a whole our outlook remains unchanged at 1.3 mb/d. In 2018…
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Oil Market Report - March 2017
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 Having expanded by 1.6 mb/d in 2016, global oil product demand growth is expected to ease back to 1.4 mb/d in 2017. Early indicators of 1Q17 demand support this, with slowdowns seen in January in Japan, Germany, Korea and India.Global oil supplies rose 260 kb…
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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…
