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The Implications of Oil and Gas Field Decline Rates
Much attention today focuses on uncertainties affecting the future evolution of oil and natural gas demand, with less consideration given to how the supply picture could develop. However, understanding decline rates – the annual rate at which production declines from existing oil and gas fields – is crucial for assessing the outlook for oil and gas supply and, by extension, for market balances.The International Energy Agency (IEA) has long examined this issue, and a detailed understanding of decline rates is at the heart of IEA modelling and analysis, underpinning the insights provided by the scenarios in the World Energy Outlook.This new…
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Oil Market Report - May 2025
…kb/d in 2026, despite accelerating OECD declines of -120 kb/d and -240 kb/d, respectively.World oil supply looks on track to rise by 1.6 mb/d to 104.6 mb/d on average in 2025, and by an additional 970 kb/d in 2026. Non-OPEC+ producers are set to add 1.3 mb/d this year and 820 kb/d next year, even as US LTO supply has been reduced. Based on the latest plans, OPEC+ will add 310 kb/d of extra supply this year and 150 kb/d in 2026.Refinery throughput forecasts…
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Outlook for Biogas and Biomethane
A global geospatial assessment Biogases play an important and growing role in energy systems. Produced locally using organic waste, biogas and biomethane can contribute to energy security, waste management, emissions reductions and agricultural development.In recent years, demand for biomethane – also known as “renewable natural gas” – has grown rapidly in many countries, supported by dozens of new policies. As a low-emissions substitute for natural gas, the use of biomethane has been targeted across a wide range of sectors, including power, industry, transport and buildings. This report presents a first-of-its-kind global geographical analysis of the untapped potential…
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Advancing Methane Emissions Reductions by National Oil Companies
National oil companies (NOCs) are responsible for around half of all global oil and gas production today and their actions strongly influence methane abatement prospects. More than 30 NOCs have joined the Oil and Gas Decarbonization Charter (OGDC) and are engaging in initiatives to tackle methane emissions and flaring. There is a major opportunity for NOCs looking to implement best practices in methane management to learn from the experience of peers in order to deploy strategies that are adapted and tailored to their circumstances. Best practices include adopting measures to limit flaring and venting, implementing leak detection and repair programmes…
