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- We believe the tighter balance for 2021 and 2022 is already reflected in the price of oil and the forward curve," the IEA told Reuters.
www.reuters.com/business/energy/tighter-oil-market-confirmed-by-iea-demand-revision-2022-02-15/Tighter oil market confirmed by IEA demand revision | Reuters
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Aug 13, 2024 · Oil markets exhibited Olympic levels of volatility over recent weeks. Benchmark crude oil prices tumbled sharply lower in July and early August as unexpected economic data threw the market off balance.
Feb 15, 2022 · We believe the tighter balance for 2021 and 2022 is already reflected in the price of oil and the forward curve," the IEA told Reuters.
- Global oil demand growth is losing momentum, with annual gains easing from 2.8 mb/d in 3Q23 to 1.8 mb/d in 4Q23. A sharp drop in China underpinned an 830 kb/d decline in global oil demand to 102.1 mb/d in the last quarter of 2023.
- World oil supply in January posted a sharp decline of 1.4 mb/d m-o-m after an Arctic blast shut in production in North America and as OPEC+ deepened output cuts.
- Refinery throughputs are set to accelerate from a seasonal low of 81.5 mb/d in February. Atlantic Basin activity will recover from US weather-related disruptions that cut runs by up to 1.7 mb/d, despite a pickup in planned maintenance and as new capacity comes online in the non-OECD.
- Refining margins recovered from early-January weakness in the Atlantic Basin, led by the US Gulf Coast following the mid-month winter freeze. Although Singapore margins posted a narrow m-o-m gain, the $4.50/bbl increase on average in USGC margins was driven by the late-month rally in cracks that pushed Atlantic Basin margins to their highest level since late September.
Feb 15, 2022 · We believe the tighter balance for 2021 and 2022 is already reflected in the price of oil and the forward curve," the IEA told Reuters on Feb. 15. Oil prices have powered toward $100 a barrel in 2022 as fuel demand recovers from a pandemic crash, in a rally that has driven up energy costs worldwide, forcing some businesses to cut output and ...
Sep 20, 2017 · The world oil market appears to have returned to balance this year, thanks to a substantial stock draw in the second quarter. As global demand exceeded supply, our balances in 2Q17 implied a 0.9 million barrels a day (mb/d) decline in inventories, the first draw since 4Q13.
Mar 14, 2024 · Oil prices rose on Thursday to settle at four-month highs as the International Energy Agency predicted a tighter market in 2024 and raised its view on oil demand growth this year.
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.
