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Oil Market Report - January 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 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…
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Oil Market Report - May 2026
…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 2026…
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Oil Market Report - July 2025
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 growth is forecast to increase by 700 kb/d in 2025, its lowest rate since 2009, with the exception of the 2020 Covid year. Annual growth eased from 1.1 mb/d in 1Q25 to just 550 kb/d in 2Q25, with emerging…
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Oil Market Report - March 2025
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 Growth in global oil demand is set to accelerate to just over 1 mb/d this year, from 830 kb/d in 2024, reaching 103.9 mb/d. Asia accounts for almost 60% of gains, led by China where petrochemical feedstocks will provide the entirety of…
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Oil Market Report - April 2025
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 for 2025 has been revised down by 300 kb/d since last month’s Report to 730 kb/d, as escalating trade tensions have negatively impacted the economic outlook. Growth is expected to slow further in 2026, to 690 kb/d, but…
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Oil Market Report - April 2026
…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 Rebecca Schulz and David Martin, which draws on fresh data and analysis from the April OMR Highlights Oil demand is expected to contract by 80 kb/d this year, as the Iran war upends our global outlook. This is 730 kb/d less than in last month’s Report and a forecast 1.5 mb/d 2Q26 decline would be the sharpest since Covid-19 slashed fuel consumption. Initially, the…
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Oil Market Report - May 2025
…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 is projected to slow from 990 kb/d in 1Q25 to 650 kb/d for the remainder of the year as economic headwinds and record EV sales curb use. Demand growth averages 740 kb/d in 2025 and 760 kb/d in 2026…
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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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Oil Market Report - March 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 The war in the Middle East is creating the largest supply disruption in the history of the global oil market. With crude and oil product flows through the Strait of Hormuz plunging from around 20 mb/d before the war to a trickle currently, limited capacity…
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Sheltering From Oil Shocks
…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 IEA details 10 demand-side options open to households, businesses and governments to shelter themselves from today’s oil shock and relieve the strains on affordability. These are based on the IEA’s longstanding expertise on energy security and on specific country examples.
