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Oil Market Report - June 2023
…are forecast to increase by 1.8 mb/d in 2023 and 1 mb/d next year when it averages 83.4 mb/d. A further decline in OECD crude runs next year is more than offset by the 1.3 mb/d increase in non-OECD activity. New capacity in Oman and Kuwait and ample availability of discounted Russian crude in Asia skews activity away from the Atlantic Basin. Refinery margins were stable in May, with gains in Atlantic Basin light distillates partially offset by weaker middle distillates.Global observed oil inventories rose by 10 mb in April as…
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Oil Market Report - May 2023
…However, weak margins mean the 2H23 runs forecast has been downgraded, most notably for Europe and the US. New capacity and ample availability of discounted Russian crude in Asia skews activity away from the Atlantic Basin.Russian exports of crude and refined oil products edged up in April to a post-invasion high of 8.3 mb/d. Shipments of crude oil increased by 250 kb/d, offsetting a decline in product exports of 200 kb/d. Estimated oil export revenues increased by $1.7 billion to $15 billion on the back of higher crude oil exports and a narrower…
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Iraq's Energy Sector: A Roadmap to a Brighter Future
…a detailed look at the country’s oil and gas sector, projecting that Iraq’s oil production will grow by 1.3 million barrels a day by 2030, becoming the world’s fourth-largest oil producer behind the United States, Saudi Arabia and Russia. Key findings Key findings Iraq remains central to future global oil supply The increase in Iraqi oil production capacity over the last decade has been impressive, yet there are a number of challenges facing the sector going forward.One impeding barrier is the availability of water, as planned oil production will require a level of water…
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Oil Market Report - December 2017
…raised by roughly 0.2 mb/d.Global oil supply rose 0.2 mb/d in November to 97.8 mb/d, the highest in a year, on the back of rising US production. Output was nonetheless down 1.1 mb/d on a year ago when Russia and Middle East OPEC producers pumped at record rates. Non-OPEC supply is set to rise by 0.6 mb/d in 2017 and 1.6 mb/d next year.OPEC crude supply fell in November for the fourth consecutive month to 32.36 mb/d, down 1.3 mb/d on a year ago. Output was lower in Saudi Arabia…
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World Energy Outlook 2012
World Energy Outlook 2012 Industry and government decision makers and others with a stake in the energy sector all need WEO 2012. It presents authoritative projections of energy trends through to 2035 and insights into what they mean for energy security, environmental sustainability and economic development. Oil, coal, natural gas, renewables and nuclear power are all covered, together with an update on climate change issues. Global energy demand, production, trade, investment and carbon-dioxide emissions are broken down by region or country, by fuel and by sector. Special strategic analyses cover: what unlocking the purely economic potential for energy efficiency could do, country-by-country and sector-by…
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Iraq Energy Outlook 2012
World Energy Outlook Special Report Iraq Energy Outlook 2012 Iraq is already the world’s third-largest oil exporter. It has the resources and intention to increase its oil production vastly. Contracts are already in place.Will Iraq’s ambitions be realised? And what would the implications be for Iraq’s economy and for world oil markets? The obstacles are formidable: political, logistical, legal, regulatory, financial, lack of security and sufficient skilled labour. One example: in 2011 grid electricity could meet only 55% of demand. The IEA has studied these issues with the support and close co-operation of the…
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Oil Market Report - May 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 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…
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Oil Market Report - March 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 Global oil demand growth slowed sharply in 4Q18 to 0.95 mb/d due to lower OECD demand, which declined by 0.3 mb/d year-on-year. Large falls were seen in Europe and Asia and there was slower growth in the Americas.Our global growth estimate for…
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Oil Market Report - March 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 is expected to increase by 1.5 mb/d in 2018 to 99.3 mb/d, a 0.1 mb/d upward revision compared to last month's forecast. Global oil demand is estimated at 97.8 mb/d in 2017, unchanged from last month.Strong early data contributed to an…
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Oil Market Report - September 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 Global oil demand growth estimates for 2018 and 2019 are unchanged at 1.4 mb/d and 1.5 mb/d, respectively. The pace of growth slowed sharply in 2Q18, caused by weaker OECD Europe and Asia demand. US gasoline demand growth eased due to higher prices.Non-OECD demand…