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Oil Market Report - June 2026
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 is forecast to decline by 1.1 mb/d y-o-y in 2026. This represents a downgrade of 700 kb/d compared with our May Report, as 2Q26 deliveries plunged by 5 mb/d y-o-y in the face of higher…
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Oil Market Report - February 2026
…as the start of maintenance and lower margins impacted activity. Crude runs are forecast to increase by an average 790 kb/d to 84.6 mb/d in 2026, led by non-OECD regions, compared with an increase of almost 1 mb/d in 2025. Margins fell further in January, as December’s resurgent runs eased product market tightness.Observed global oil inventories rose by 37 mb in December, taking total 2025 stocks builds to 477 mb, or 1.3 mb/d. Chinese crude oil stocks built by 111 mb last year, while oil on water swelled by 248 mb…
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Oil Market Report - January 2026
…prices and refining activity, as well as oil trade for IEA and selected non-IEA countries. Highlights Global oil demand growth is forecast to average 930 kb/d in 2026, up from 850 kb/d in 2025, reflecting a normalisation of economic conditions after last year’s tariff turmoil and lower oil prices than a year ago. A recovery in petrochemical feedstocks demand will be partially offset by a continued slowdown in gasoline gains. Non-OECD countries will once again account for all of the growth in 2026.Global oil supply fell by 350 kb/d m-o-m to…
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National Climate Resilience Assessment for Algeria
Algeria’s energy system already faces significant disruption due to extreme weather events. Critical infrastructure has been impacted in recent years by flash floods, drought-induced wildfires and heatwaves. With the climate projected to warm more rapidly than the global average, these risks are likely to intensify. Proactive measures to enhance the resilience of Algeria’s energy system could offer substantial benefits.Algeria has experienced significant warming, averaging 0.49 °C per decade from 2000 to 2023 and exceeding the global average of 0.37 °C per decade. Temperatures are expected to rise further, reaching up to 5.6 °C above pre‑industrial levels…
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Oil Market Report - March 2026
…with non-OPEC+ producers accounting for the entire increase.The conflict is also having a significant impact on global product markets, with export flows through the Strait at a near standstill. Gulf producers exported 3.3 mb/d of refined products and 1.5 mb/d of LPG in 2025. More than 3 mb/d of refining capacity in the region has already shut due to attacks and a lack of viable export outlets. Runs elsewhere will be increasingly limited due to feedstock availability.IEA Member countries unanimously agreed on 11 March to make 400 mb of oil from their…
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Oil Market Report - May 2026
The May edition of the IEA’s Oil Market Report is exceptionally provided free of charge in an abridged format.For access to the full report, subscribers can visit their Products page.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 World oil demand is forecast to contract by 420 kb/d y-o-y in…
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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 - April 2026
The April edition of the IEA’s Oil Market Report is exceptionally provided free of charge in an abridged format.For access to the full report, subscribers can visit their Products page.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. Listen to the most recent episode of the Everything Energy podcast with senior oil market analysts…
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Heat Pump Taxonomy
A common framework for heat pumps classification and data Heat pumps are a cornerstone technology for achieving secure, affordable and sustainable heating. They have become one of the most common heating technologies and have the potential to impact significantly future trends for energy consumption in buildings and beyond.Tracking and analysing the pace of heat pump deployment compared to that of conventional heating technologies is essential for understanding future needs with regards to energy demand, investments in electricity infrastructure and fuel supply.Despite their growing importance, data on heat pump installations, as well as on their performance and cost, remain…
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Sheltering From Oil Shocks
Measures to reduce impacts on households and businesses The conflict in the Middle East has created the largest supply disruption in the history of the global oil market, due to the near halt in shipping traffic through the Strait of Hormuz. The loss of supply is having significant impacts in global markets, pushing up prices for crude oil above $100/barrel, and leading to much higher prices for some refined products – notably diesel, jet fuel and liquefied petroleum gas (LPG). Concerns are growing about the impacts of higher prices on households, businesses and the broader economy.In this report, the…
