Oil

Oil markets are still adapting to the changes set in motion by the extended period of high prices that fostered the emergence of tight oil in the United States. How oil demand evolves from here, and the prospects of a peak in demand, will be determined by a variety of factors including oil prices, the economic transition underway in major demand centres (most notably China), the pace of fossil-fuel subsidy reform, the speed at which disruptive technology and business models emerge in the transport sector and prospects for the two most stubborn sources of oil demand growth: petrochemicals and road freight.

	 Demand 	 Supply 	 Total Stock Change and Misc 
1Q15	94	95.1	1.1
2Q15	94.7	96.3	1.5
3Q15	96.5	97.1	0.7
4Q15	96	97.3	1.3
1Q16	95.6	96.6	1
2Q16	96.1	96	-0.1
3Q16	96.9	96.8	-0.1
4Q16	97.1	98.1	1
1Q17	96.6	96.6	0.1
2Q17	98.1	96.9	-1.2
3Q17	98.4	97.8	-0.6
4Q17	98.7	98.2	-0.5
1Q18	98.3	98.3	0
2Q18	98.7	99	0.4
3Q18	99.8	100.9	1.1
4Q18	100.1	101.3	1.1

{
	"title": {
		"text": "Demand/Supply Balance"
	},
	"subtitle": {
		"text": "Click a category in the legend to hide/show on the chart"
	},
	"tooltip": {
		"shared": true,
		"valueSuffix": " Mb/d"
	},
	"chart": {
		"type": "line"
	},
	"plotOptions": {
		"series": {
			"stacking": null,
			"marker": {
				"enabled": false
			}
		}
	},
	"yAxis": [
{
			"title": {
				"text": "Mb/d"
			}
		}, {
			"title": {
				"text": "Mb/d"
			},
"opposite": true
		}
	],
	"legend": {
		"reversed": "true"
	},
	"series": [{"zIndex": 1}, {"zIndex": 2}, {
		"type": "column",
		"yAxis": 1, "zIndex": 0
	}]
}

Our work on Oil

• Oil Market Report
  Each month, access to information on supply, demand, stocks, prices and refinery activity is available through the Oil Market Report online service
• Market Report Series: Oil 2019
  Five-year forecast of global oil demand, supply refining, and trade
• Oil Security
  One of the IEA's core activities is ensuring the security of oil supplies by setting oil stockholding requirements for member countries and coordinating the international response to supply shocks
• Free Oil Monthly Data
  IEA monthly statistics provide timely and consistent oil and oil price data for all OECD Member Countries going back to January 2000
• Monthly Oil Data Service (MODS)
  Provides a detailed database of historical and projected information used in preparing the monthly IEA's Oil Market Report (OMR)
• Future Scenarios for Oil
  Access our latest modelling and analysis to gain insight into potential future scenarios for oil globally.