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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 - 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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Boosting Efficiency in Latin America
Delivering affordability, security and jobs to advance people-centred energy transitions Countries around the world are facing an energy security and affordability crisis affecting households, businesses and public budgets. In Latin America, household expenditure on energy services is second only to food. On average, the share of household budget for energy ranges between 7% and 9% of income – and up to more than 24% for the poorest households. As governments urgently implement measures to protect citizens and secure their economies, it is important to consider short- and long- term solutions to ease existing pain and reduce risks over time. While…
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Latin America Energy Outlook 2023
World Energy Outlook Special Report Latin America and the Caribbean is a region that stands out in the global energy sector. It boasts extraordinary natural resources – both fossil fuels and renewable energy – and a significant share of the world’s critical minerals. It also has a history of ambitious policy making in pursuit of stronger energy security and greater sustainability that has delivered one of the cleanest electricity mixes in the world. As the region emerges from a period of sluggish economic growth, countries in Latin America and the Caribbean now stand to leverage these resources to revitalise their economies…
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Renewables 2020
Analysis and forecast to 2025 In May 2020, the IEA market update on renewable energy provided an analysis that looked at the impact of Covid-19 on renewable energy deployment in 2020 and 2021. This early assessment showed that the Covid-19 crisis is hurting – but not halting – global renewable energy growth. Half a year later, the pandemic continues to affect the global economy and daily life. However, renewable markets, especially electricity-generating technologies, have already shown their resilience to the crisis. Renewables 2020 provides detailed analysis and forecasts through 2025 of the impact of Covid-19 on renewables in…
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Chile Energy Profile
The Latin America Energy Outlook, the International Energy Agency’s first in-depth and comprehensive assessment of Latin America and the Caribbean, builds on decades of collaboration with partners. In support of the region's energy goals, the report explores the opportunities and challenges that lie ahead. It provides insights on the ways in which the outlook for the region and the biggest global energy trends are deeply intertwined – as well as recommendations on policies that could allow Latin America and the Caribbean to take full advantage of its great potential.
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Energy Policy Review 2009: Chile
Energy Policy Review Energy Policy Review 2009: Chile Since 1990, Chile has been the fastest-growing economy in Latin America owing to sound economic management and integration into the global economy. Chile can also be proud of its energy policy achievements. The pioneering privatisation and liberalisation of its electricity sector in the 1980s was the foundation for a competitive energy sector, which has sustained the rapid growth of the Chilean economy over the past two decades. Nonetheless, Chile faces the continuing challenge of finding additional energy supplies to fuel economic growth. Chile has limited fossil energy resources and depends on…
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Energy Policies Beyond IEA Countries: Chile 2018 Review
Chile’s energy policy has evolved dynamically in recent years. In response to changes in the domestic and international environment, significant institutional and policy reforms as well as major infrastructure projects have been carried out. The National Energy Policy 2050 was adopted in 2015, following an exceptionally inclusive public consultation. The electricity sector, in particular, has developed quickly. This second review of Chile’s energy policies by the IEA finds that the country has emerged as a world-class destination for solar and wind energy developers. New legislation encourages investment in generating capacity across the electricity sector. The expanded role…
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Chile 2050 Energy Transition Roadmap
World Energy Outlook Special report Chile has made significant strides in its energy transition, towards its ambitious long-term goals and it stands at a pivotal moment in its energy journey, possessing remarkable renewable and critical mineral resources. The Chile 2050 Energy Transition Roadmap, produced at the request of the Government of Chile, and in close collaboration with the Chilean Ministry of Energy, sets out a detailed pathway for the country to reach its legally binding goal of net zero emissions by 2050 while expanding economic growth and improving energy security and affordability. This pathway relies on four pillars: accelerating…
