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Fuel economy in Canada
…0% during this time. Additionally, the sales share of flexfuel vehicles, which have a rated fuel consumption that is marginally higher compared to gasoline internal combustion engine vehicles, has decreased from 8.4% in 2017 to 4.5% in 2019. Overview of current fuel economy policy Canada closely aligns its regulations for vehicles and fuels with the United States, and adopted emissions and fuel standards harmonized with the US Tier 3 program in 2015. Standards apply to new passenger cars and light trucks for models years 2017-2025. Under Canada’s Passenger Automobile and Light Truck GHG Regulations, a 5%…
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Oil Market Report - February 2021
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 set to grow by 5.4 mb/d in 2021 to reach 96.4 mb/d, recovering around 60% of the volume lost to the pandemic in 2020. While oil demand is expected to fall by 1 mb/d in 1Q21 from…
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Oil Market Report - February 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 Supported by strong 4Q16 numbers,the estimate for global oil demand growth for 2016 was revised up for the third consecutive month to 1.6 mb/d. Although still forecast to decelerate in 2017 to 1.4 mb/d, recent improvements in industrial activity are providing…
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Oil Market Report - December 2018
…by 5.7 mb, to 2 872 mb. They were above the five-year average for the first time since March. NGL and feedstock inventories hit a historic high whereas fuel oil stocks fell to a record low.Having fallen by 30% since early October, 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…
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Oil Market Report - May 2019
…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 of growth, with China and India growing by 0.7 mb/d. Net OECD growth will be 0.2 mb/d, led…
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Oil Market Report - January 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 Demand estimates in 2017 and 2018 are roughly unchanged at 97.8 mb/d and 99.1 mb/d respectively. A 40 kb/d downward revision to 2016 demand, however, pushed up the 2017 growth to 1.6 mb/d, while our growth estimate for 2018 remains unchanged at 1.3 mb/d.The slowdown in…
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Energy Efficiency Potential in Canada
This paper presents up-to-date, 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…
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Oil Market Report - June 2023
…dropped by 260 kb/d in May to 7.8 mb/d, largely unchanged from a year ago. Crude oil exports rose by 90 kb/d to 5.2 mb/d while product exports slumped by 350 kb/d to 2.6 mb/d. China and India accounted for at least 56% of total Russian exports, while shipments to Africa, the Middle East and Latin America made up another 12%. Estimated export revenues fell by $1.4 bn to $13.3 bn, down 36% on a year ago, with average crude prices easing from $60/bbl in April to $55…
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Oil Market Report - May 2023
…$88.09/bbl in mid April following the surprise output cuts announced by some OPEC+ members. Prices failed to hold on to the gains, however, as pessimism about global economic growth resurfaced, exacerbated by tightening bank credit and a reversal of technical support in paper markets. At the time of writing, Dated was trading around $76/bbl. Roller coaster ride Oil prices retreated during April and early May as concerns over the health of the global economy and oil demand prospects depressed market sentiment. North Sea Dated plunged by nearly $16/bbl in just two weeks, reversing gains that followed...
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Oil Market Report - May 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 Weakness in a number of previously solid countries - India, US, Germany and Turkey - curtailed the 1H17 global demand growth estimate by 115 kb/d. Global demand growth is, however, still forecast at 1.3 mb/d in 2017, with demand at 97.9 mb/d.Global oil supply fell by…