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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 - February 2026
…extreme temperatures in North America, and Kazakh supply disruptions sparked the reversal to a bullish market. At the time of writing, Dated was trading around $73/bbl, with oil markets on tenterhooks about uncertain developments in the Persian Gulf. Off balance Benchmark crude oil prices surged by $10/bbl over January as a number of supply outages tightened physical crude markets and geopolitical tensions rose between Iran and the United States. While prices gave back a few dollars at the start of February on reports of progress in ongoing negotiations to de-escalate the tensions, they quickly reversed course after…
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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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Oil Market Report - April 2026
…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 deepest cuts in oil…
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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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Oil Market Report - June 2026
…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 fuel prices and disruptions to product availability. We see growth rebounding to 2 mb/d in 2027, as a normalisation of trade flows, lower oil…
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Sheltering From Oil Shocks
…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 IEA details 10 demand-side options open to households, businesses and governments to shelter themselves from today’s oil shock and relieve…
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Global EV Outlook 2026
…in major and emerging markets. It also considers the implications of growing EV adoption for electricity and oil consumption, as well as greenhouse gas emissions.Amid the ongoing energy crisis sparked by the conflict in the Middle East, this edition includes early monthly data for 2026 and considers potential implications of the crisis for policy and market development. It also includes analysis of the affordability of electric cars and the manufacturing and trade of electric cars, trucks and their batteries, along with a special chapter on automotive technology trends related to software and artificial intelligence.The report is complemented by…
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Gas Market Report, Q2-2026
…spotlight on the effects of the war in the Middle East on international gas markets. Amid the major supply shock caused by the disruptions to shipping through the Strait of Hormuz and attacks on regional energy infrastructure, it examines the conflict’s implications for gas supply and demand at both the regional and global levels. The report also analyses the consequences for storage, shipping and prices – providing critical insights on evolving market trends.The loss of nearly 20% of global liquefied natural gas (LNG) supply due to the effective closure of the strait is distorting short-term gas market fundamentals…
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Gas Market Report, Q1-2026
…still cause price volatility. Close international co-operation between responsible producers and consumers remains important to reinforce the architecture for secure global gas supplies. The International Energy Agency (IEA) continues to support this process, including through the permanent Working Party on Natural Gas and Sustainable Gases Security (GWP), established in late 2024.This edition of the quarterly Gas Market Report provides a thorough review of market developments in 2025 and an outlook for 2026. The report includes a section dedicated to key policies undertaken in 2025, with a special focus on market reforms introduced in fast-growing markets in Asia.
