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Fuel report
Apr 2017
Oil Market Report - April 2017
…inventories, prices and refining activity, as well as oil trade for IEA and selected non-IEA countries. Highlights Global demand growth of 1.3 mb/d is forecast for 2017, a second consecutive annual decline and slightly below our prior forecast following weaker than expected 1Q17 demand. Subdued gains in Russia and India, and weaker momentum in OECD countries, were key factors.World oil supply fell by 755 kb/d in March as OPEC and non-OPEC producers pumped less and improved compliance with the output reduction pact. Total non-OPEC output is set to rise again, however, with growth of 485 kb/d…
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Fuel report
May 2017
Oil Market Report - May 2017
…before the OPEC output deal. They rose on 15 May after Russia and Saudi Arabia indicated support for an extension of the production cuts. Sour grades continued to trade higher than sweet crudes.In 2Q17, global refining activity slows down seasonally, lower by 370 kb/d from 1Q17, but is set to ramp up by 2.4 mb/d by July-August. The OECD leads the way: in non-OECD areas, maintenance and refinery closures in the Middle East, underperformance in Latin America and flat growth in India are not offset by growth in China and Russia. Highlights Weakness in a number of…
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Fuel report
Feb 2018
Oil Market Report - February 2018
…in January, to 58.6 mb/d, but was 1.3 mb/d higher than a year ago. US crude output, up 1.3 mb/d year-on-year (y-o-y), will soon overtake Saudi Arabia and could catch Russia by the end of the year. Compliance with output cuts by non-OPEC countries was 85%.Global oil demand growth for 2018 has been increased slightly to 1.4 mb/d, partly due to an optimistic GDP forecast from the IMF. This is down from last year’s gain of 1.6 mb/d, as higher oil prices, shifting…
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Fuel report
Dec 2017
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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Fuel report
May 2019
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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Fuel report
Jan 2017
Oil Market Report - January 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 The global demand outlook for 2016 has been raised following the release of robust preliminary 4Q16 numbers. Colder weather in northern Europe provided impetus as did rapid industrially-driven Asian growth. Global oil demand growth for 2016 is now expected to be 1.5 mb/d, slowing to 1.3 mb…
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Fuel report
Feb 2017
Oil Market Report - February 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 Supported by strong 4Q16 numbers,the estimate for global oil demand growth for 2016 was revised up for the third consecutive month to 1.6 mb/d. Although still forecast to decelerate in 2017 to 1.4 mb/d, recent improvements in industrial activity are providing…
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Fuel report
Sep 2018
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…
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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
Nov 2017
Oil Market Report - November 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 Higher prices and relatively mild early winter temperatures contributed to a downward revision to our demand forecast. Growth has been revised down by 0.1 mb/d for both 2017 and 2018 and we now see increases of 1.5 mb/d in 2017 (or 1.6%), to 97.7 mb…