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Fuel report
Jan 2019
Oil Market Report - January 2019
…was up 2.8 mb/d on a year ago. Following annual gains of a record 2.6 mb/d in 2018, non-OPEC production growth is set to slow to 1.6 mb/d in 2019.OPEC crude oil output dropped by 590 kb/d in December, to 32.39 mb/d. Saudi Arabia cut back from record highs while Iran and Libya saw further losses. OPEC production is set to fall further in January, when new Vienna Agreement cuts take effect.Global refining throughput is estimated to have reached a record high of 84.2 mb/d in December, causing refinery margins to fall…
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Fuel report
Oct 2018
Oil Market Report - October 2018
…oil production rose by 100 kb/d in September to a one-year high of 32.78 mb/d. Since May, OPEC output has increased by 735 kb/d, led by the main Gulf producers and supported by Nigeria and Libya, offsetting falls in Iran and Venezuela.Refiners are facing increased competition as capacity additions surge between 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…
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Fuel report
May 2019
Oil Market Report - May 2019
…oil stocks fell by 25.8 mb in March to 2 849 mb, more than the five-year average of 4 mb owing to counter-seasonal crude draws. In days of forward demand, stocks amount to 59.8 days, their lowest level since July 2018.ICE Brent rose to a five-month high of $74.57/bbl in late April after the end of US waivers on Iranian exports, but has since fallen by 6%. Gasoline strengthened in April ahead of the peak demand season. Cracks for other products fell due to higher crude prices. Highlights Our 2018 oil demand growth estimate has been revised down…
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Fuel report
Sep 2018
Oil Market Report - September 2018
…US. Non-OPEC production will grow by 2 mb/d in 2018 and 1.8 mb/d in 2019.OPEC crude supply rose to a nine-month high of 32.63 mb/d in August. A rebound in Libya, near record Iraqi output and higher volumes from Nigeria and Saudi Arabia outweighed a substantial reduction in Iran and a further fall in Venezuela.From August's record rate of 83.5 mb/d, global crude runs decline due to maintenance before surging in December to another record high of 84.5 mb/d. US refining is booming with runs almost reaching 18 mb/d in August, while…
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Fuel report
Aug 2018
Oil Market Report - August 2018
…refining and exports. Both benchmarks are up 50% y-o-y. The Brent/WTI differential in July narrowed sharply versus June.Global refinery throughputs in 2H18 are expected to be 2 mb/d higher than in 1H18. Due to high summer demand, refined products stocks will draw before building again in 4Q18. The outlook will be heavily influenced by Iranian crude flows and resulting changes to crude prices and margins. Highlights Following strong demand growth in 1Q18, in 2Q18 and 3Q18 the pace has slowed dramatically to a relatively subdued 1 mb/d. In 4Q18 we expect a rebound and demand will be 100.2 mb/d…
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Report
Nov 2009
Petroleum Prices, Taxation and Subsidies in India
The views expressed in this report are those of the author(s) and do not necessarily reflect the views or policy of the IEA or of its individual member countries. The current Indian system of effectively subsidised petroleum product prices has significant implications for the emergence of India as a major global energy consumer, for the integrity of India’s Central Government budget and for investment in India’s growing oil and petroleum sector. This report is part one of a broader study that looks at the current system of petroleum pricing and the macroeconomic, microeconomic, regional and global effects…
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Technology report
Nov 2016
Railway Handbook 2016
Produced in collaboration with the Union Internationale des Chemins de Fer The production of the Railway Handbook 2016 has been an important opportunity to strengthen the collaboration between the IEA and the UIC. This relationship has served to enrich and improve the knowledge of activity, energy and emissions data associated with the railway sector. Part I of this year’s Handbook is dedicated to presenting the most significant data and trends concerning energy consumption and CO2 emissions from the rail sector, focusing on the most important Regions in terms of rail activity, namely EU 28, USA, Japan, Russia, India and…
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Report
Nov 2019
Clean energy transitions: Accelerating innovation beyond 2020
Focus on India In recent years, governments have increasingly focused on innovation as a means to accelerate clean energy transitions and meet climate targets under the Paris Agreement. Despite efforts, illustrated by Mission Innovation country pledges to double public research and development spending in clean energy over a five-year period, much remains to be done. This brief Discussion Paper provides an overview of IEA work on innovation as part of clean energy transitions, tapping into India’s experiences and success stories. It also considers aspects relevant to multilateral innovation partnerships including Mission Innovation, and suggests ways forward for policy…
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Fuel report
Jun 2017
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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Fuel report
Feb 2019
Oil Market Report - February 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 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…