-
Is the biofuel industry approaching a feedstock crunch?
Renewables 2022 This report forms a component of Chapter 4 of Renewables 2022 and addresses a key question in renewable energy markets. Biodiesel, renewable diesel and biojet fuel producers are headed for a feedstock supply crunch during 2022-2027 if current trends do not change. In our main case, demand for vegetable oil, waste and residue oils and fats increases 56% to 79 million tonnes over the forecast period. Fuels made from wastes and residues are in particularly high demand because they satisfy GHG and feedstock policy objectives in the United States and Europe. In fact, wastes and residues are expected to…
-
Oil Market Report - October 2024
…and as field maintenance work in Kazakhstan and Norway lowered output. Non-OPEC+ supply growth of around 1.5 mb/d this year and next is led by the Americas, accounting for 80% of gains.Refining margins slumped further in September as gasoline, jet and diesel cracks deteriorated while crude prices improved on a relatively tighter market. As a result, global crude run estimates are further reduced by 180 kb/d to 82.8 mb/d for 2024 and by 210 kb/d to 83.4 mb/d in 2025, representing annual gains of 540 kb/d and 610 kb…
-
Oil Market Report - January 2023
…2 mb/d of capacity additions between 4Q22 and end-2023.Russian oil exports fell by 200 kb/d m-o-m in December to 7.8 mb/d, as crude shipments to the EU declined after the EU crude embargo and G7 price cap came into effect. Russian diesel exports surged to a multi-year high of 1.2 mb/d, of which 720 kb/d was destined for the EU. Record discounts for Russian benchmark Urals grade saw Russian revenues slip by $3 bn m-o-m to $12.6 bn.Global observed oil inventories surged by 79…
-
Oil Market Report - June 2022
…d in 2022 and 1.6 mb/d in 2023, boosting throughputs by 2.3 mb/d and 1.9 mb/d, respectively. Nevertheless, product markets are expected to remain tight, with a particular concern for diesel and kerosene supplies. While diesel cracks eased month-on-month in May, both jet fuel and gasoline cracks surged as demand picked up seasonally.Following nearly two years of declines, observed global oil inventories increased by 77 mb in April. OECD industry stocks also rose, by 42.5 mb (1.42 mb/d), helped by government stock releases of nearly 1 mb/d…
-
Does security of supply drive key biofuel markets in Asia?
…and diesel demand with biofuels is a means of increasing a country’s domestic fuel supply. China produces ethanol from corn and cassava, India uses feedstocks such as molasses from its sugar industry (the world’s second-largest) to make ethanol, and Indonesia manufactures biodiesel from palm oil, of which it is the world’s largest producer. However, the production of biodiesel in China and India, and ethanol in Indonesia, is lower because of lower domestic feedstock resources.Security of supply can be strengthened through the application of mandate polices that prescribe replacing a share of gasoline or diesel consumption…
-
Fuel economy in Indonesia
…tax rates for vehicles are no longer only based on just engine capacity, but also consider engine efficiency and emissions. Vehicles emitting no more than 120 CO2 g/km, with engine capacities below a specified level are eligible for LCEV tax incentives, and a fuel economy limit of 20 km/l (gasoline) and 21.8 km/l (diesel) is also in place. Tax exemptions are applied to plug-in hybrid, battery electric and fuel-cell electric vehicles that meet a minium local content requirement, with fuel consumption equal to 28 km/l, or CO2 emissions up to 100 g/km…
-
Partner Country Series - Fossil Fuel Subsidy Reform in Mexico and Indonesia
Many countries have turned to fossil fuel subsidies at some point or another to reduce energy costs in order to cut transportation bills, prop up industries, or finance household electrification, particularly for the poorest families. At the same time, many studies have found that the economic and environmental costs of fossil fuel subsidies far outweighs any of its perceived social benefits, which can be achieved by other more effective means. Drawing on its global experience and extensive analysis of fossil fuel subsidies, the IEA undertook this in-depth look at reforms of fossil fuel subsidies in Mexico and Indonesia. These…
-
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…
-
Oil Market Report - October 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 The forecast for demand growth in 2018 and 2019 has been reduced for both years by 110 kb/d to 1.3 mb/d and 1.4 mb/d, respectively. This is due to a weaker economic outlook, trade concerns, higher oil prices and a revision to Chinese data.OECD demand…
-
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…