-
Oil Market Report - February 2018
…inventories, prices and refining activity, as well as oil trade for IEA and selected non-IEA countries. Highlights Global oil supply in January edged lower to 97.7 mb/d but was 1.5 mb/d above last year as rebounding US production underpinned non-OPEC output growth.OPEC crude oil production in January was steady month-on-month (m-o-m) at 32.16 mb/d. Higher Nigerian output offset losses elsewhere. Compliance with supply cuts reached a new high of 137%.Non-OPEC output dropped by 175 kb/d in January, to 58.6 mb/d, but was 1…
-
Oil Market Report - April 2017
…however, with growth of 485 kb/d expected in 2017, recovering from a decline of 790 kb/d last year.OPEC crude output fell by 365 kb/d in March to 31.68 mb/d, led by losses in Nigeria, Libya - both exempt from supply cuts - and Saudi Arabia. OPEC's 1Q17 output of 31.9 mb/d was 240 kb/d below the 1Q17 "call" on its crude. The call rises to 32.9 mb/d in 2Q17, which implies global stocks will draw further if OPEC maintains solid adherence to its supply cut.OECD industry stocks drew moderately in February and are forecast to fall further in March…
-
Oil Market Report - February 2017
…leading to record initial compliance of 90% with the output agreement. Some producers, including Saudi Arabia, cut supply by more than required. Lower production was partly offset by higher flows from Libya and Nigeria, which 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…
-
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…
-
Oil Market Report - May 2023
…the country setting an all-time record in March at 16 mb/d. While the OECD is set to return to growth in 2Q23, its average 2023 increase of 350 kb/d pales in comparison with 1.9 mb/d in non-OECD gains.Significant outages in Iraq, Nigeria and Brazil were only partly offset by increases elsewhere, with global oil supply down by 230 kb/d to 101.1 mb/d in April. Steeper losses are in store for May as wildfires shut in Canadian barrels and extra cuts from some OPEC+ producers take effect. From April through December…
-
Clean Energy Transitions Programme 2021
Annual report 2021 The Clean Energy Transitions Programme (CETP) has enabled the International Energy Agency (IEA) to significantly expand and deepen its global engagement and to support emerging economies’ transition to clean, resilient, sustainable energy systems. In 2021 the CETP marked its fourth full year since its launch at the 2017 IEA Ministerial Meeting, and the programme has steadily grown in size and impact.The CETP Annual Report 2021 aims to provide all CETP donors and partners with insights on the programme’s accomplishments, outputs and efforts across all areas of work. The report highlights activities and achievements for each…
-
Brazil 2025
Energy Policy Review Government action plays a pivotal role in ensuring secure and sustainable energy transitions. Energy policy is critical not just for the energy sector but also for meeting environmental, economic and social goals. Governments need to respond to their country’s specific needs, adapt to regional contexts and help address global challenges. In this context, the International Energy Agency (IEA) conducts Energy Policy Reviews to support governments in developing more impactful energy and climate policies.This Energy Policy Review was prepared in partnership between the Government of Brazil and the IEA. It draws on the IEA’s extensive…
-
Towards a competitive natural gas market in Brazil
With domestic supply and demand expected to grow in the coming decades, the prospects for the natural gas industry in Brazil are promising. However, the legal and regulatory frameworks will need to evolve to allow the country to reap the benefits of a competitive gas market. Through its Gás para Crescer initiative, the Brazilian government sets a plan to liberalise the local market further, building on previous market reforms in the country. This report is the result of a peer-review and dialogue process between Brazil and IEA member country experts and draws on European gas market reform experiences to…
-
Development of Energy Efficiency Indicators in Russia
Development of Energy Efficiency Indicators in Russia The key findings of the IEA work with the Russian Federation on developing energy efficiency indicators form the core of this report. Russia is sometimes referred to as “the Saudi Arabia of energy efficiency”; its vast potential to reduce energy consumption can be considered a significant energy reserve. Russia, recognising the benefits of more efficient use of energy, is taking measures to exploit this potential. The president has set the goal to reduce energy intensity by 40% between 2007 and 2020. In the past few years, the IEA has worked closely with Russian…
-
Brazil 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.