Nov 10, 2016 the oil market faces another year of a relentless growth in oil supply without an opec deal to curb output, the international energy agency iea has warned. My name is kevin book, and im a senior associate here at the center for strategic and international studies. Indepth report on the midterm global oil market scenario, published november. However, this years oil supply prospects became less optimistic. May 12, 2016 global oil markets heading towards balance. Ieas gas 2018 medium term market report and global gas. The iea oil market report omr is one of the worlds most. The oil market report is published every month and includes. Global oil supplies rose 250 000 barrels per day 250 kbd in april from the preceding month to 96. Iea warns glut will swamp oil market if no opec cut rt. Iea sees oil market rebalancing faster if opec respects.
Monthly oecd statistics free statistics on oil, oil prices, electricity and natural gas. The iea said in its latest oil market report on thursday that a rebalancing of supply and demand was starting to become evident from. Apr 21, 2016 the outlook for oil demand, supply and refining through 2020. Iea report on global oil demand and supply business insider. In its latest report on the oil market, the international energy agency said that adding irans expected oil production of about 600,000. I have used information from the november report and assumed opec crude output will be 32. Is the latest iea oil market report really bullish. This website allows you to purchase data card and data service subscription access to the iea online data services website. Iea oil market report december 2016 peak oil barrel. Oil market report dated 11 may 2007, a change on this scale would necessitate additional investment in upgrading capacity far above those that are currently forecast. Oil market rebalancing is essentially here, iea says cnbc. On the whole growing tendency of world oil supply is observed in spite of the oil price collapse in 2014. If you have any questions or if you wish to subscribe to the iea monthly oil data service, please contact us.
In this article, we highlight five key dimensions of this crisis themes that the iea is tracking in detail in our oil market report whose next edition is on 15 april, the global energy and co 2 status report later in april, the world energy investment report late may, and many other publications. Your download should automatically begin in a few seconds. Mar, 2020 under the ieas pessimistic case, oil demand would fall to 730,000 barrels per day in 2020. Opec, along with the world bank, the oecd and the iea was requested by the g20 leaders when they met in pittsburgh, in september 2009, to provide an analysis of the scope of energy subsidies and offer suggestions for the implementation of the g20 initiative. The outlook for oil demand, supply and refining through 2020. As a result, the agency is expecting another oversupplied market. In late 2016, leading oil producers put together the most comprehensive agreement to limit oil output seen since 2009 to ensure the stabilization of oil prices and avoid economic dislocation in. Since its inception in 1983, the ieas oil market report omr has become recognised as one of the worlds 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 oecd and selected nonoecd countries.
It includes over 2000 charts and tables that characterize the demand, supply, oil prices and the activities of oil refineries around the world. Under a more optimistic case, the iea said global oil demand would grow by 480,000 barrels per day. This agreement provides the backdrop to the iea s latest fiveyear oil market forecast, which was renamed market report series. Brent prices fell after the publication of the iea report.
The energy transition will be cheaper and faster with the full support of the oil and gas sector, but national oil companies, in particular, are falling behind, the iea warned in a report compiled. Since its inception in 1983, the ieas oil market report omr has become recognised as one of the worlds most authoritative and timely sources of data. Here are the highlights from the latest oil market report, released by the international energy agency iea this thursday. The oil market has essentially reached a balance and will continue to accelerate in the near term, the international energy agency iea said in its monthly report published tuesday, just nine. Oil, refinery margins file direct access to the restricted omr data website from your webstore. We are following the situation extremely closely and will provide regular updates to our forecasts as the picture becomes clearer, birol said. Oil 2017 formerly known as the mediumterm oil market report. International energy agency iea data services subscriptions. In its latest monthly report, the iea estimated that the net impact of the pledges would be a reduction of 530,000 barrels per day from november levels. The report shows opec crude output rose for a fifth consecutive month in october, up by 230,000 barrels a day to a record 33. The iea expects nonopec countries to increase their oil production by around 1. It is a global statistical document provided with a brief summary.
Oil 2019, the annual iea outlook for global oil markets, examines the key issues in demand, supply, refining and trade to 2024. The iea believes that the recent imbalances in the product market have had a significant knockon effect on oil market volatility and outright prices. Indepth report on the midterm global oil market scenario, published november 2011. The product has been added to your shopping cart unit price. The agreement brought to an end a twoyear free market window where producers competed to secure outlets for their oil. Global oil production data are reported monthly in the iea oil market report.
Iea monthly oil market report is released by the international energy agency. Key world energy statistics the ieas introduction to energy data and statistics. A breakdown of global oil production can be accessed via the links below or via the menu bar above. Iea monthly oil market report worldwide economic event.
By dennis coyne click to enlarge the iea released highlights for the december oil market report in middecember. Jan 19, 2016 the oil market report omr is a monthly international energy agency publication which provides a view of the state of the international oil market and projections for oil supply and demand 1218. Iea releases oil market report for may india infoline. The international energy association iea released its oil market report omr for december, cutting the outlook for 2015 global oil demand growth by 230 mbopd to 900 mbopd on lower expectations.
Energy transition possible, but more expensive, without. The latest oil market report by iea suggests that the global demand growth for oil has been revised upwards to 1. This number has already included the effects of hurricanes irma and. This agreement provides the backdrop to the ieas latest fiveyear oil market forecast, which was renamed market report series. Iea sees oil market rebalancing faster if opec respects deal.
Iea oil market report, january 19 business insider. The cartel meets this month to discuss a production freeze. In its closely watched monthly oil market report, the iea said it now expects global demand to grow by 1. The iea, ief and opec jointly held their second symposium on gas and coal market outlooks in paris on 30 october 2014. Oil demand will fall for first time since 2009 because of.
Oct 11, 2016 brent prices fell after the publication of the iea report. If not, please click here to download your copy of the monthly oil market report. World oil demand is expected to fall this year for the first time since 2009, as the coronavirus pandemic deals a sharp shock to the global economy. Jul 07, 2007 oil market report dated 11 may 2007, a change on this scale would necessitate additional investment in upgrading capacity far above those that are currently forecast. Using data from the ieas recently released mediumterm oil market report, halff says that growth in refining capacity between 2012 and 2018 will far exceed that of crude oil capacity and oil product demand. The 2016 outlook is unchanged from last months report. The annual iea market analysis and forecast on renewable energy purchase. Since its inception in 1983, the iea s oil market report omr has become recognised as one of the worlds 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 oecd and selected nonoecd countries.
Sees global oil market broadly balanced next year, assuming opec. Browse statistics browse and download free statistics across a wide range of indicators. Energy information administration eia will provide weekly estimates of u. Feb 24, 2016 in the 2016 edition of its medium term oil market report, the international energy agency analyses the key factors impacting the supply and demand for oil from today out to 2021. If the supply surplus persists in 2017 there must be some risk of prices falling back, the iea said. Iea warns glut will swamp oil market if no opec cut 10 nov, 2016 14.
Download our onepage pdf full of live links to energyrelated data, statistics, and dashboards from. In the first half of this year, the supply of oil exceeded global demand by 0. Please refer to the technical requirements for using iea online data services website beforehand. Oil market report november 2019 analysis and key findings. The agreement brought to an end a twoyear freemarket window where producers competed to secure outlets for their oil.
Drop in the number of rigs drilling for oil and huge reductions in exploration and production capital expenditures have been reported as a result of current oil prices. London time should oil prices continue to rise, opec. In late 2016, leading oil producers put together the most comprehensive agreement to limit oil output seen since 2009 to ensure the stabilization of oil prices and avoid economic. Iea oil market report 2017 center for strategic and. Ieas recently released medium term oil market report. Iea oil market report december 2016 the united states. Under the ieas pessimistic case, oil demand would fall to 730,000 barrels per day in 2020. The iea oil market report omr is one of the worlds 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. Oil market report march 2020 analysis and key findings. The oil market report omr is a monthly international energy agency publication which provides a view of the state of the international oil market.
The whole of the omr is now graphed from january 2002. Purchase access to iea data services by credit card. The annual oil market report provides iea forecasts on oil markets for the next five years as well as indepth analysis of recent developments in global oil demand, supply and trade. The iea oil market report omr is one of the worlds 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. The iea released highlights for the december oil market report in mid december. Oil market report february 2020 analysis and key findings. Feb 12, 2017 on friday, oil prices increased by more than 1.