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Oil Market Report - January 2018
…lower North Sea and Venezuelan output. Production was steady on a year ago as non-OPEC gains of nearly 1 mb/d offset declines in OPEC.A plunge in Venezuelan supply cut OPEC crude output to 32.23 mb/d in December, boosting compliance to 129%. Declines are accelerating in Venezuela, which posted the world's biggest unplanned output fall in 2017.Rapid US growth and gains in Canada and Brazil will drive up non-OPEC supply by 1.7 mb/d in 2018, versus last year's 0.7 mb/d increase. US crude supply will push past 10 mb/d, overtaking Saudi Arabia and rivalling…
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Oil Market Report - February 2017
…are exempt from cuts.After falling by 0.8 mb/d last year, non-OPEC output will grow by 0.4 mb/d in 2017.Growth is mainly in the Americas, where higher prices are fuelling increased investments in US LTO activity and long lead-time projects are coming on stream in Brazil and Canada.OECD total oil stocks fell nearly 800 kb/d in 4Q16, the largest fall in three years.End-December inventories were below 3 000 mb for the first time since December 2015. Stocks continued to build in China and other emerging economies and volumes of…
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Oil Market Report - July 2018
… OPEC crude production in June reached a four-month high of 31.87 mb/d. A surge from Saudi Arabia offset losses in Angola, Libya, and Venezuela.Non-OPEC output is set to expand by 2 mb/d in 2018 and by 1.8 mb/d next year led by the United States, but there are temporary disruptions in Canada, Brazil, Kazakhstan and the North Sea.OECD commercial stocks rose 13.9 mb in May to 2 840 mb, only the third monthly increase since July 2017. However, stocks gained only half as much as normal. At end-month, OECD inventories were 23 mb below the five-year average…
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Oil Market Report - May 2023
…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, OPEC+ oil supply is set to fall by 850 kb/d, while non-OPEC+ rises by 710 kb/d. For 2023 as a whole, global oil supply expands by 1.2 mb/d, led by the United States and Brazil.Global crude throughputs reach an estimated 82.3…
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Oil Market Report - June 2019
…oil demand growth will rise to 1.4 mb/d, supported by solid non-OECD demand and petrochemicals expansion. The IMO switch will result in major changes to bunker fuel demand, sharply increasing gasoil demand from 4Q19.Non-OPEC supply growth will accelerate from 1.9 mb/d this year to 2.3 mb/d in 2020. The US leads the gains, but solid growth also comes from Brazil and Norway. In May, global oil supply eased by 0.1 mb/d to 99.5 mb/d, down 2.8 mb/d from the November peak.The call on OPEC crude drops to 29.3 mb/d…
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Energy Policies of IEA Countries: Canada 2009
Energy Policy Review Energy Policies of IEA Countries: Canada 2009 Canada, with its diverse and balanced portfolio of energy resources, is one of the largest producers and exporters of energy among IEA member countries. The energy sector plays an increasingly important role for the Canadian economy and for global energy security, as its abundant resource base has the potential to deliver even greater volumes of energy.
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Land-Use Competition between Biodiversity and Net Zero Goals
A case study of Canada Meeting global targets for energy, climate, and biodiversity conservation has major implications for land use. To ensure that the tripling of renewable energy capacity by 2030 aligns with the goal of protecting 30% of the planet’s land and water by the same date, robust mechanisms that direct solar and wind projects away from the world’s most biodiverse areas are needed. To address the potential impacts of renewable development on biodiversity, the IEA developed the Renewable Energy and Land-Use Model (REALM), which identifies areas of overlap between renewable projects, critical mineral mining, and…
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Energy Policies of IEA Countries: Canada 2004
Energy Policy Review Energy Policies of IEA Countries: Canada 2004 This International Energy Agency review of Canada's energy policies and programmes systematically examines Canada's general energy scene and energy policy and then looks more specifically at energy and the environment, energy efficiency, policies and programs for specific types of energy, and energy R&D. It makes a series of policy recommendations, in particular with regard to meeting demand growth, emissions, efficiency, use of oil sands, and natural gas exploration.
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Energy Policies of IEA Countries: Canada 2015 Review
Canada has continued to harvest its vast natural resources and witnessed a shale revolution alongside rising oil sands production 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…
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Oil and Gas Emergency Policy: Canada 2010 update
Oil and Gas Emergency Policy: Canada 2010 update In 2007, the IEA published Oil Supply Security: Emergency Response of IEA Countries. This report provides an overview of the IEA oil emergency response system and a detailed look at the specific systems in each IEA country for responding to an oil supply crisis. The report represented the findings of a five-year review cycle of the emergency response mechanisms in IEA member countries. Since the 2007 publication, the IEA has started a new cycle of reviews which now includes reviewing gas emergency policies. Rather than waiting for the completion of the…