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Article
21 Oct 2019
Does security of supply drive key biofuel markets in Asia?
…cause domestic supplies to meet a higher share of fuel demand from road transport in 2024.Nevertheless, security of supply is not the sole motivation for biofuel policy support. In China, India and Indonesia, supporting demand for nationally important agricultural commodities has also been a key factor in the introduction of mandate policies.In energy terms, biodiesel consumption in Indonesia already resulted in a notably higher share of domestically produced fuel supplies in 2017. By 2024, its contribution could expand to offset 17% of diesel demand. If vehicle testing results indicate that it is possible to use B30 fuel (30%…
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Fuel report
Aug 2019
Oil Market Report - August 2019
…in July and is set to grow by 1.9 mb/d in 2019 and 2.2 mb/d next year.After a year-on-year fall in 1H19, global refining throughput is expected to pick up in the second half of the year, increasing by 0.7 mb/d. This follows the pattern of refined product demand growth, which was subdued in 1H19, but is forecast to rebound in 2H19. In 2019, China and the Middle East are alone in seeing growth in refining activity. Highlights Global demand fell 160 kb/d y-o-y in May, the second annual fall seen in 2019…
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Fuel report
Mar 2019
Oil Market Report - March 2019
…IEA countries. Highlights Global oil demand growth slowed sharply in 4Q18 to 0.95 mb/d due to lower OECD demand, which declined by 0.3 mb/d year-on-year. Large falls were seen in Europe and Asia and there was slower growth in the Americas.Our global growth estimate for 2018 and our forecast for 2019 are nevertheless unchanged, at 1.3 mb/d and 1.4 mb/d, respectively, supported by solid non-OECD growth. Data for parts of the Middle East and Asia have been revised upwards.Global oil production fell by 340 kb/d in February as OPEC and non-OPEC cuts deepened. Output…
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Fuel report
Feb 2019
Oil Market Report - February 2019
…mainly in the US and Europe.Brent futures reached a two-month high of $62.75/bbl in early February, with WTI prices around $10/bbl below. The Brent-Dubai EFS narrowed to an eight-year low as sour crude markets tightened. Ample supplies of gasoline saw cracks decline into negative territory. Highlights Our global demand estimate for 2018 is unchanged. Growth in 4Q18 was robust at 1.4 mb/d y-o-y and for 2018 as a whole growth was 1.3 mb/d. China (0.44 mb/d), India (0.21 mb/d) and the US (0.54 mb/d) contributed 1.19 mb/d of…
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Fuel report
May 2019
Oil Market Report - May 2019
…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 2018 oil demand growth estimate has been revised down by 70 kb/d to 1.2 mb/d and our 2019 forecast is reduced by 90 kb/d to 1.3 mb/d. Revisions for 2018 impacted mainly non-OECD Asia and African countries. The 2019 revision is seen in OECD Asia in 1Q19.Non-OECD countries will drive global oil demand in 2019, adding 1.1 mb/d…
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Fuel report
Jan 2019
Oil Market Report - January 2019
…supplied markets, particularly for gasoline and jet fuel, pressured crack spreads. Highlights Our estimates for global oil demand growth in 2018 and 2019 are unchanged at 1.3 mb/d and 1.4 mb/d, respectively. The impact of higher oil prices in 2018 is fading, which will help offset lower economic growth.Non-OECD countries dominate oil demand growth in 2019, with the 875 kb/d seen last year accelerating to 1.15 mb/d. China and India provide 62% of the total. OECD growth will slow from 390 kb/d in 2018 to 280 kb/d in 2019. The US provides 82% of the OECD total.Global oil…
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Fuel report
Jul 2019
The Role of Gas in Today's Energy Transitions
…China, and India, reveal the various opportunities, hurdles and limits of fuel switching as a way to address environmental challenges. Natural gas is one of the mainstays of global energy. Where it replaces more polluting fuels, it improves air quality and limits emissions of carbon dioxide. In this analysis, we explore how widespread and durable this role might be in some of today's key energy markets. The Role of Gas in Today's Energy Transitions examines the role of fuel switching, primarily from coal to natural gas, to reduce CO2 emissions and air pollutants.Four case studies, covering the United States…
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Fuel report
Apr 2019
Oil Market Report - April 2019
…a lower crude build. March preliminary data show a significant crude build in Europe.ICE Brent reached a five-month high above $71/bbl in early April on supply concerns. New infrastructure capacity in the US helped WTI to narrow its discount to Brent to $7/bbl. Gasoline markets continued to rally, while cracks for most other refined products fell in March. Highlights Our global demand growth estimates for 2018 and 2019 are again unchanged at 1.3 mb/d and 1.4 mb/d, respectively. After a slow start to the year, OECD growth will be 0.3 mb/d, with non-OECD growing…
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Technology report
Feb 2019
China Power System Transformation
…However, the concept of power system flexibility is much broader. Apart from power plants, it can be provided by grid infrastructure, demand-side response, and electricity storage. Changes to market, policy, and regulatory frameworks are crucial for unlocking flexibility.Establishment of spot markets and trade between provinces are two of the main elements to promote power system transformation in China. Building on the World Energy Outlook (WEO) New Policies Scenario, modelling results indicate that if current efforts to implement economic dispatch, boost short-term inter-regional trading and expand transmission interconnectivity succeed, annual power system operational costs in 2035 can...
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Technology report
Jun 2019
The Future of Cooling in China
…representing nearly 40% of global sales in 2017. Mini-split ACs are still common, as is “part time” and “part space” cooling behaviour in which households cool rooms only when they are occupied and for a few hours. Yet larger multi-split and central cooling systems are growing in numbers, due to architectural choices and changing consumer preferences. As a result, the average size of new units sold in 2017 was around 7 kilowatts of cooling capacity (kWc), compared with previous models that were between 3 kWc and 5 kWc. Those larger and centralised cooling systems can be significantly more energy intensive.Rated performanc.…