Overview

The Oil Market Report is a monthly series produced and published by the International Energy Agency (IEA). It provides an in-depth analysis of the global oil market, encompassing essential fundamentals such as world oil demand, global supply, and refinery crude throughputs. The report also tracks changes in global observed oil inventories and monitors price developments for major benchmarks, including North Sea Dated, WTI, and Brent futures. By evaluating these key variables across both OECD and non-OECD regions, the report offers a comprehensive overview of the current state and future trajectory of the international energy landscape.

Purpose

This series is designed to provide governments, international organisations, and industry stakeholders with reliable data and analysis to inform critical policy and investment decisions. It aims to offer a clear view of short-term and medium-term market fundamentals, identifying potential supply-demand gaps and assessing the impact of geopolitical disruptions, such as conflicts in the Middle East. The report exists to support evidence-based decision-making by providing consistent historical time series for analysis, forecasting, and cross-country comparisons. It helps users navigate price volatility and understand the implications of economic shifts on global energy security and emissions.

Methodology

The analysis is conducted using the IEA’s specialised databases and subscription data services. Key inputs include the Monthly Oil Data Service (MODS), which provides detailed supply, demand, trade, and production data, and the World Energy Outlook (WEO), which offers scenario-based analysis of energy futures. The report utilises data from the Joint Data Organizations Initiative (JODI), shipping data from Kpler, and price assessments from Argus Media Group. The assessment covers several pillars of the market:

• Demand: Analysed by region and product, including petrochemical feedstocks and aviation fuels.
• Supply: Monitored through production levels of OPEC+ and non-OPEC+ countries, alongside export volumes.
• Refining: Evaluating crude throughputs, refining margins, and product cracks.
• Stocks: Tracking on-land industry stocks, government strategic reserves, and oil on water.

Use for Finance Professionals

Finance professionals, including commodity traders, risk managers, and investment analysts, can utilise this report to monitor market developments and manage exposure to energy price volatility. The granular data on supply-demand imbalances and inventory draws provides essential insights for valuing energy-related assets and equities. Analysis of refining margins and cracks assists in evaluating the profitability of downstream operations. Furthermore, the report’s monitoring of time spreads and differentials helps professionals anticipate market tightness and identify arbitrage opportunities. The IEA’s trusted time series data serves as a robust foundation for financial modelling, benchmarking, and evidence-based risk assessment in the global energy sector.