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Oil Market Report - May 2017
…96.17 mb/d, output stood 90 kb/d below a year ago, even as non-OPEC returned to growth. Non-OPEC supply is set to increase 600 kb/d in 2017.OPEC crude production rose by 65 kb/d in April to 31.78 mb/d as higher output from Nigeria and Saudi Arabia more than offset lower flows from Libya and Iran. Crude production was down 535 kb/d compared to April 2016. Year-to-date compliance with production cuts remained robust at 96%.OECD commercial stocks decreased for a second straight month in March, by 32.9 mb (1.1 mb/d), to 3 025 mb. Product…
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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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Azerbaijan energy profile
Situated in the southern Caucasus region, Azerbaijan is bordered by the Caspian Sea to the east, Armenia and Georgia to the west, Russia to the north, and Iran to the south. Its population of 10.1 million occupies approximately 86 600 square kilometres, with Baku being the capital and largest city.Azerbaijan has undergone significant economic transformation since gaining independence in 1991, with its large oil and gas reserves driving strong growth in the 1990s and 2000s. However, its heavy dependence on extractive industries has left Azerbaijan exposed to the negative effects of oil price volatility.This report explores Azerbaijan’s energy sector…
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Oil Market Report - December 2018
…and Russia. Cuts from January reduce non-OPEC production growth for 2019 by 415 kb/d, to 1.5 mb/d, compared with 2.4 mb/d in 2018.OPEC crude oil output rose 100 kb/d m-o-m to 33.03 mb/d in November as Saudi Arabia and the UAE reached record highs, more than offsetting a sharp loss from Iran. The group agreed to cut output by 0.8 mb/d from January.Global refining throughput growth came to a halt in 4Q18, with annual losses in Latin America and Europe only just offset by gains in the US, Middle East and China. Lower…
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Energy Policies Beyond IEA Countries: Eastern Europe, Caucasus and Central Asia 2015
Conveniently located near the world’s fastest-growing energy markets, the resource-rich and transit countries of Eastern Europe, Caucasus and Central Asia contribute significantly to world energy security. However, shared challenges across the region include aged infrastructure, high energy intensity, low energy efficiency, untapped alternative energy potential and poorly functioning regional energy markets.
This publication highlights the energy policies and sector developments of Armenia, Azerbaijan, Belarus, Georgia, Kazakhstan, Kyrgyzstan, Moldova, Tajikistan, Turkmenistan, Ukraine and Uzbekistan during 2013-14 and provides a summary of key recommendations for policy makers in the region. Energy policy analysis is conducted in line with… -
Strategic actions to support energy statistics
This document “20 strategic actions for energy statistics” has been drafted in 2016 by the IEA under theEU4Energy programme to support the 11 countries of Eastern Europe, Caucasus and Central Asia in elaborating action plans for the development of their energy statistics. EU4Energy is a 4 year action supported by EU funding, with the objective of promoting evidence-based policy-making in Armenia, Azerbaijan, Belarus, Georgia, Kazakhstan, Kyrgyzstan, Moldova, Tajikistan, Turkmenistan, Ukraine and Uzbekistan. The document focuses on three aspects of energy statistics central to the EU4Energy programme and the development of statistics in the focus region: improving energy data…
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Azerbaijan 2021
Energy Policy Review Oil and gas continue to dominate Azerbaijan’s economy and provide most of its export and government revenue. While these resources have sharply raised the country’s living standards since the late 1990s and remain plentiful, the long-term outlook for this economic model is uncertain. Oil production is declining and major oil and gas importing countries have pledged to reduce greenhouse gas emissions to net-zero by mid-century, implying little demand three decades from now for oil or gas without carbon capture and storage.
This report assesses the energy sector and related economic challenges facing…
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Implementing a Long-Term Energy Policy Planning Process for Azerbaijan: A Roadmap
Long-term energy planning is central to a country’s strategic direction. Without it, governments may end up relying on a patchwork of policies and legislation that can be incoherent and ill-suited for the complex challenges countries are increasingly faced with. Good long-term energy planning encompasses domestic and foreign policy, while touching on many key areas of the economy including industry, natural resources and trade. The process involves multiple stakeholders across the government, but also brings in the private sector as well as citizens, as it aims to set out a strategic path towards a clear goal.Azerbaijan…
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Energy Efficiency Policy in Azerbaijan: A Roadmap
Energy efficiency is playing an increasingly important role in Azerbaijan's energy transition. A new legal framework and corresponding policies and strategies, as well as a new dedicated fund for energy efficiency, signal that Azerbaijan is moving towards a more rational use of its domestic and imported energy resources. This is an opportune moment for Azerbaijan to implement all adopted policies and develop targeted actions on energy efficiency aligned with the country's climate commitments, building on progress made to date. Action on energy efficiency is more pertinent than ever for Azerbaijan. As host of COP 29 in 2024, Azerbaijan…
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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.