How would you describe the trend of total monthly estimated opec. 4 mb/d over the forecast 2024 level.
How would you describe the trend of total monthly estimated opec. The last month reported in most of the OPEC charts that follow is February 2025 and output The Annual Statistical Bulletin (ASB) contains about 100 pages of tables, charts and graphs detailing the world's oil and gas reserves, crude oil and product output, exports, refining, tankers, plus economic and other data. 4 mb/d. 6 December an additional adjustment of 500 thousand barrels per day was determined, for a total of 1. OPEC NGLs and non-conventional liquids production in 2021 is unchanged from the previous assessment to show growth of 0. 4 mb/d to 46. ) or which we collect through your usage, including but not limited to information collected through emails you send, form submissions, surveys, online job applications, registrations, accreditations or other communications to or OPEC NGLs and non-conventional liquids production in 2022 is forecast to grow by 0. 4%, in January to average $85. How would you describe the trend of total monthly estimated OPEC crude production? Find step-by-step Geography solutions and the answer to the textbook question How would you describe the trend of total monthly estimated OPEC crude production? A. The ORB value rose $4. Oil demand in the OECD is estimated to grow by 1. An ordered multinomial logit framework Apr 26, 2025 · The average of the EIA and OPEC estimates in 2025 is 104. In 2017, demand for OPEC crude is estimated to stand at 33. In 2026, global oil demand is forecast to Feb 26, 2025 · The OPEC Monthly Oil Market Report (MOMR) for February 2025 was published recently. For 2020, OPEC NGLs have been revised up by 14 tb/d, following higher output in 1Q20, and are now forecast to grow by 0. Product Markets and Refining Operations Refining margins showed diverging trends in Feb 27, 2025 · The scenario/estimate above is unchanged from last month's update. 64 mb/d m-o-m to average 26. How would you describe the trend of total monthly estimated OPEC crude production? It's mostly decreasing It's mostly stable It's mostly increasing It's slightly increasing Here’s the best way to solve it. Dec 20, 2024 · OPEC has reduced its estimate for World liquids demand growth in 2024 by 200 kb/d compared to last month’s oil report, but the expected growth in 2025 is unchanged. 19 mb/d. World Oil Demand d trend of burning more crude in power generation. une. 88 mb/d, according to available secondary sources. The US is expected to lead the way with a share of about 75% of total growth, followed by Norway, Brazil, Canada, Kazakhstan and Guyana. 6 mb/d, around 0. The adjustment reflects actual data received, combined with slightly lower expectations for some regions. Marginal upward revisions in OECD Europe, due better economic views in some European countries, were offset by softer growth in industrial fuel demand, in OECD America and Latin America. Demand for OPEC crude in 2025 is expected to reach about 29. 8 mb/d, y-o-y. 3 mb/d lower than demand for OPEC crude. 4 mb/d and by 50 tb/d in 2023 to average 5. 5-0. 09 mb/d in 2019 to average 5. 3, with the IEA estimate 0. 0 mb/d higher than the estimated level for 2023. 94/b. 41/b in January, its highest monthly value since September 2014. These other sites may place their own cookies or other files on your computer, collect data or require personal information from you. Demand for OPEC crude in 2025 is expected to reach about 28. 25 mb/d to 2. OPEC NGLs in 2020 are estimated to decline by 0. An event-study approach is used to identify the effects of OPEC announcements on oil price fluctuations. Demand for OPEC crude in 2024 is also revised down by 0. 08 mb/d to stand at 2. 7% in 2020. Oct 31, 2024 · View live updates and historical trends for OPEC Crude Oil Production. How would you describe the trend of total monthly estimated OPEC crude production?It's slightly increasingIt's mostly decreasingIt's mostly increasingIt's mostly stable Click on the BloombergTerminal screen to view theOPEC function. 4 days ago · Get the OPEC Monthly Report results in real time as they're announced and see the immediate global market impact. 5 days below the 2015–2019 average. How would you describe the trend of total monthly estimated OPEC The trend of total monthly estimated OPEC crude pr View the full answer Previous question Next question Click on the BloombergTerminal screen to view the OPEC function. 8 Urbanization trends are set to intensify, with an estimated two- thirds of the population, translating to over 6. Russia’s liquids production for 2022 is revised down by 0. The OPEC Monthly Oil Market Report (MOMR) covers major issues affecting the world oil market and provides an outlook for crude oil market developments for the coming year. 79%. 4 mb/d seen before the COVID-19 pandemic. Figures are updated monthly. 04 mb/d, according to secondary sources. OPEC crude oil production in November increased by 0. 2 mb/d higher than the estimated level for 2023. In November, OPEC crude oil production increased by 0. 0 mb/d in 2024, bolstered by strong transportation fuel demand and ongoing healthy economic growth, particularly in a number of non-OECD countries. 8 mb/d, respectively. Since then, inventories have gradually increased and the overhang with the five-year average is currently around 210 mb (Graph 2). The forecast for non-OPEC supply growth in 2022 is revised down by 0. Light distillates are also projected to support demand growth this year. The trend of total monthly estimated OPEC crude ca View the full answer Previous question Next question Jun 24, 2020 · Click on the Bloomberg Terminal screen to view the OPEC function. Also, members' compliance, a proxy for credibility, has strongly fluctuated over time. 25 mb/d. 5 mb/d in 2024. The US and Russia are forecast to contribute two thirds of total expected growth, followed by Brazil, Canada, Kazakhstan, Norway, and Guyana. 5 mb/d. 1 mb/d in 2020. 2 mb/d). Product Markets and Refining Operations Refining margins globally showed mixed movement. However, this increase was offset by a downward revision to the Middle East in 2Q24 and The OPEC Monthly Oil Market Report (MOMR) covers major issues affecting the world oil market and provides an outlook for crude oil market developments for the coming year. 6 mb/d higher than a year earlier. Non-OPEC oil supply in 2020 declined in Canada, Colombia, Kazakhstan, Malaysia, the UK and Azerbaijan, but increased in Norway, Brazil, China, and Guyana. 71 mb/d, m-o-m, to average 25. 77, or 14. 98 mb/d, m-o-m, to average 23. 1% m-o-m, its largest percentage gain since April 2019, to settle at $62. 6 mb/d higher than the 2016 level. Partners’ unwavering dedication to the process was clearly seen through overall conformity of 126% achieved from January 2017 Petrochemical and transportation trends shift the global product slate to a much lighter average barrel With respect to refined products, strong long-term demand growth is expected for ethane/liquefied petroleum gas (+4. OPEC’s World Oil Outlook (WOO) is part of the Organization’s commitment to market stability. While it seemed that global economic developments were improving at the beginning of 2020, the COVID-19 pandemic hit economic momentum relatively early in 1Q20, and the highly volatile growth trend continued throughout the remainder of the year. The trend in non-C+C liquids is combined with the EIA and OPEC forecasts for 2024 to 2026 to find the estimates in the chart above. 72 mb/d, with total supply averaging 62. Knowledge Check ? Click on the Bloomberg Terminal screen to view the OPEC function. Question: OPEC funtion. 2 mb/d, following an estimated contraction of 0. 1 mb/d y-o-y is forecast in 2022 for an average of 5. Total oil dem nd is expected to average around 100 mb/d in 2022. Jul 11, 2024 · OPEC's latest Oil Market Report presents an optimistic view of the global oil market. The rise reflects increases in the physical crude benchmarks and firm crude differentials, which were supported by robust seasonal crude demand, particularly from Asia, and higher refinery runs Research Centre Publications The OPEC Secretariat produces numerous publications to inform the public about the Organization's activities, and to disseminate data and information about OPEC Member Countries and the oil industry in general. Similarly, crude oil futures prices increased on both sides of the Atlantic with the ICE Brent front month up $10. Research Centre Publications The OPEC Secretariat produces numerous publications to inform the public about the Organization's activities, and to disseminate data and information about OPEC Member Countries and the oil industry in general. As of January 2007: The basket price includes the Angolan crude "Girassol". 3 mb/d lower than the 2017 level. 1 mb/d y-o-y in 2021 to average 5. Non-OPEC liquids supply for 2021 is forecast to grow by almost 1 mb/d to average 63. 8 mb/d, some 0. 04 mb/d in 2018, unchanged from the previous estimate, to average 4. 62 mb/d, taking into account base line adjustments to China of around 0. 08 mb/d to average 5. OPEC-13 crude oil production in January decreased by 49 tb/d m-o-m to average 28. Jun 3, 2024 · The May monthly outlook from OPEC estimated total Asian demand growth of 1. 1 mb/d y-o-y in 2021. 4 Mb/d less than this average. The global oil demand growth forecast for 2024 is revised down by 106 tb/d to 1. 1 days. OPEC crude oil production in July increased by 0. Several participating countries, mainly Saudi Arabia, continued their additional voluntary contributions, leading to total adjustments of more than 2. Monthly Oil Market Report The OPEC MOMR provides a detailed analysis of oil market developments, including oil supply and demand levels, and trends in the world economy. However, investment in the non-OPEC upstream sector in 2021 and 2022 is estimated at around $350 billion each, showing a 50% drop compared to the 2014 level, and thereby limiting growth potential. OPEC crude oil production in March increased by 0. May 9, 2023 · OPEC produced an estimated 28. We also find that shifts in OPEC oil output policy and abandonment of its balancing role have global welfare implications. Feb 12, 2025 · OPEC on Wednesday stuck to its forecast for relatively strong growth in global oil demand in 2025, saying air and road travel would support consumption and potential trade tariffs were not The OPEC Reference Basket (ORB) increased for the second-consecutive month in June, reaching its highest monthly average since October 2018. For data queries: dataqueries@opec. 3 mb/d, respectively. 6 mb/d, y-o-y. 1 mb/d. Total US liquids production is estimated to have increased by 0. Nov 4, 2024 · Non-OPEC oil supply growth in 2018 - including the State of Qatar - is estimated at 2. 1 mb/d y-o-y in 2021, to average 5. 1 mb/d both in 2021 and 2022 to average 5. With this, total non-OPEC supply for 2018 is now estimated at 60. 98 mb/d, according to available secondary sources. . Demand for OPEC crude in 2017 is estimated to stand at 32. 03 mb/d. 06 mb/d m-o-m to average 27. 46 mb/d, according to available secondary sources to date. 2% y-o-y, but this is a considerable monthly appreciation from a decline of -60. World economic growth is estimated to have declined by 3. The total vehicle fleet is anticipated to reach 2. The North Sea Dated benchmark gained more than $20/b on a monthly average and WTI gained almost $17/b, on the back of escalating geopolitical tensions in Eastern Europe and concerns this might result in large oil supply shortages, amid trade dislocations. OECD Americas demand is expected to rise the most in 2022, led by the US, on the back of recovering gasoline and diesel demand. 02 mb/d, according to secondary sources. The ASB is one of OPEC’s flagship annual publications, along with the World Oil Outlook and the Monthly Oil Market Report. 3 mb/d. Demand for OPEC crude in 2024 is forecast to stand at 28. Most of the forecast for liquids The global oil demand growth forecast for 2024 is revised down slightly by 107 tb/d from the previous month’s assessment to 1. OPEC-13 crude oil production in July increased by 0. The OPEC Reference Basket price increased $19 . 4 days ago · The monthly average OPEC oil price rose to nearly 70 USD per barrel in June 2025. 39 mb/d, to average 25. In March 2019, OPEC crude oil production decreased by 534 tb/d to average 30. 6 mb/d. 2 mb/d. 49 mb/d, according to available secondary sources. OPEC Annual Statistical Bulletin Links OPEC Website OPEC Digital Publications Overview Monthly Oil Market Report World Oil Outlook The ASB is one of OPEC’s flagship annual publications, along with the World Oil Outlook and the Monthly Oil Market Report. OECD oil demand is expected to grow by more than 0. In January, OPEC crude oil production has fallen by 509 tb/d m-o-m to average 28. 1 mb/d and 5. Mar 20, 2025 · The chart above attempts to estimate World C+C demand based on both the OPEC MOMR and the EIA STEO. In the OECD region, oil demand is expected to rise by around 1. The overall demand increase in the petrochemical sector is forecast to be 3. 29 mb/d m-o-m, to average 27. 29 mb/d. 3 mb/d, year-on-year (y-o-y), unchanged from last month’s assessment. In the OPEC charts below the blue line with markers is monthly output and the thin red line is the centered twelve month average (CTMA May 7, 2021 · Also, in a world where OPEC is producing at maximum capacity, oil supply and demand would have become even less elastic with the average elasticity estimates halved compared to the actual. 89/b. OPEC NGLs and non-conventional liquids production in 2021 is estimated to grow by 0. Additional growth of around 110 tb/d and 150 tb/d is forecast in 2025 and 2026 for an average of about 5. It remains to be seen if the energy sector investments’ decline has already bottomed Summary Non-OPEC liquids supply growth y-o-y in 2021 (including processing gains of 0. 61 mb/d, according to secondary sources. 0% in une. 4 mb/d and by another 65 tb/d to average 5. OPEC NGLs and non-conventional liquids production is estimated to have increased by around 60 tb/d in 2024 to average 5. 73 per barrel in June of 2025. 1 mb/d y-o-y for an average of 5. OPEC crude oil production in May increased m-o-m by 0. 1 mb/d in 2022 to average 5. 7%, to The overhang in total OECD commercial inventories started to emerge in 3Q14 when total commercial stocks were still in line with the five-year average. 11 mb/d, according to secondary sources. 0 mb/d, 0. How would you describe the trend of total monthly estimated OPEC crude production?It's mostly decreasingIt's mostly stableIt's mostly increasingIt's slightly increasing Click on the Bloomberg Terminal screen to view the OPEC function. 2 mb/d in 2025. 81 mb/d. 86 mb/d, according to secondary sources. 29, or 15. The trend in order growth in the energy sector remained significantly negative at -42. 03, or 14. In terms of days of forward cover, OECD commercial stocks increased in April by 0. org. , your name, email address, etc. OPEC NGLs and non-conventional liquids production in 2019 is estimated to have grown by 0. 16 mb/d and is now forecast to reach an average of 62. How would you describe the trend of total monthly estimated OPEC crude production? Question: Click on the BloombergTerminal screen to view theOPEC function. 55 mb/d, according to secondary sources. 4 days, m-o-m, to 59. 3 mb/d, followed by Russia and China, which are estimated to each have grown Non-OPEC oil supply growth in 2018 was revised up by 0. The report provides a detailed analysis of key developments impacting oil market trends in world oil demand, supply as well as the oil market balance. 27 million bpd in 2024. OPEC NGLs and non-conventional liquids are set to grow by 0. 2 days ago · The average oil price for OPEC crude oils in July was $70. 5 mb/d, which is 1. 6 mb/d, hile the non-OECD is expected to grow by 1. Some minor adjustments were made, mainly due to actual data for 1Q25 and 2Q25. In February 2019, OPEC crude oil production decreased by 221 tb/d to average 30. 61 mb/d, an upward revision of 0. The OPEC website contains links to other external websites over which OPEC exercises no control. mostly stable. 04 mb/d y-o-y to average 4. 10 mb/d, y-o-y in 2020, while the preliminary 2021 forecast indicates growth of 0. 88 mb/d, according to secondary sources. The OPEC Reference Basket increased $11. OECD total product stocks in April stood at 1,396 mb. Full reproduction, copying or transmission of the MOMR is not permitted in any form or by any means by third parties without the OPEC Secretariat’s written permission, however, the information contained therein may be used and/or reproduced for educational and other non-commercial purposes without the OPEC Secretariat’s prior written permission, provided that it is fully acknowledged as Nov 3, 2024 · Total oil demand is projected to average 99. Track key economic indicators and market insights with interactive YCharts data. The first half of this year is revised higher, amid better-than-anticipat World total demand in 2022 is now estimated to reach 100. 13 mb/d in 2018. 2 mb/d, while non-OECD demand is forecast to expand by close to 1. 9 mb/d, slightly higher than the 2017 level. 2 mb/d in 2020. 4 mb/d over the forecast 2024 level. OPEC-13 crude oil production in January increased by 0. How would you describe the trend of total monthly estimated OPEC crude production? It's mostly decreasing It's mostly stable It's mostly increasing It's slightly increasing Submit Answer < > WTI CRUDE FUTURE May20 Comdty OPEC - Related Functions Menu Message Question: Click on the Bloomberg Terminal screen to view the OPEC function. 72 mb/d, according to available secondary sources. OECD oil demand is expected to grow by around 0. 79 mb/d and for 2020 will grow by 0. slightly increasing, B. Global oil inventory developments Oil market highlights Feature article v Crude oil price movements 1 Commodity markets 7 World economy 10 World oil demand 25 World Thank you. In November, OPEC crude oil production dropped by 193 tb/d m-o-m to average 29. In 2017, world oil demand growth is seen to 1. The last month reported in most of the OPEC charts that follow is January 2025 and output reported for OPEC nations is crude oil output in thousands of barrels per day (kb/d). World Oil Demand fic. Non-OPEC upstream sector investment in 2022 is estimated at around $424 billion, up around 19% y-o-y. 1 mb/d) is broadly unchanged at around 0. How would you describe the trend of total monthly estimated OPEC crude production? To begin understanding the trend of total monthly estimated OPEC crude production, look at the data starting from 2020 and note the production levels at various points in time. 15 mb/d in 2021. 7 days in April, which is 2. OPEC NGLs and non-conventional liquids are forecast to grow by around 50 tb/d in 2023 to average 5. 20 mb/d, m-o-m, to average 25. 1 Mb/d. OPEC NGLs are forecast to grow by 0. Non-OPEC oil supply growth in 2019 was revised down by 0. How would you describe the trend of total monthly estimated OPEC crude production? It's mostly decreasing It's mostly stable It's mostly increasing It's slightly increasing This problem has been solved Guest user Add your school Chat with PDF Home Ask Our Educators Textbooks As of January 2006: The Weekly, Monthly, Quarterly & Yearly averages are based on daily quotations. 4 or 105. 9 mb/d, y-o-y, still well above the historical average of 1. 39 mb/d and in 2023 by 50 tb/d to average 5. 4 mb/d in 2023. 80 mb/d and in 2020 is forecast to grow to average 4. 98 m-o-m, or 7. Crude Oil Price Movements Crude oil spot prices rose for the third-consecutive month in March. 0 mb/d, which is 0. 12 mb/d to average 5. 8%, to settle at $85. 7 mb/d, 0. 2 mb/d y-o-y. My estimate for 2024 tight oil output is 490 kb/d higher than the OPEC estimate, 2025 is 450 kb/d higher and 2026 is 410 kb/d higher. 90 mb/d, according to available secondary sources. By accessing this site, you accept that we process certain information you send (e. 80 mb/d and for 2020 is forecast to grow by 0. 9%, attributing Demand for OPEC crude in 2024 is projected to stand at about 28. The global oil demand growth forecast for 2024 remains broadly unchanged from last month’s assessment at 2. In terms of days of forward cover, OECD commercial oil stocks fell by 0. Using that as a guide, we would get an EIA estimate of 105. 04 mb/d in 2018, unchanged from the previous estimate to average 4. Your download should automatically begin in a few seconds. 0 mb/d in 2023, which is 0. 7 mb/d. The publication is a means to highlight and further the understanding of the many possible future challenges and opportunities that lie ahead for the oil industry. 6 mb/d, for an average of 63. Summary Non-OPEC liquids supply growth y-o-y in 2021 (including processing gains of 0. 6 mb/d in 2022. 44 mb/d. 6 billion people, expected to inhabit urban centres by the end of the forecast period. The largest producer and most influential member of OPEC is Saudi Arabia, which was the world’s second-largest oil producer in 2022, after the United States. 1 mb/d, y-o-y, in 2024, with the OECD Americas driving Total world oil demand is anticipated to reach 104. Over last twelve months the price has fallen 16. 80 mb/d. The Non-OPEC liquids production is estimated to average 62. Apr 11, 2024 · The trend of total monthly estimated OPEC crude production is 2) It's mostly stable Based on recent data, the trend of total monthly estimated OPEC crude production has been mostly fluctuating between stable and increasing, with occasional decreases. Business Finance Finance questions and answers Click on the Bloomberg Terminal screen to view the OPEC function. 8 mb/d higher than the estimated 2023 level. OPEC-13 crude oil production in December increased by 91 tb/d m-o-m to average 28. 07 mb/d. 97 mb/d, according to available secondary sources. According to secondary sources, OPEC crude production averaged 27. mostly decreasing, D. There were some minor upward adjustments to 1Q24 data, including a slight upward adjustment in OECD Americas and Chinese data due to better-than-expected performance in oil demand in 1Q24. 4 mb/d, which is 1. OPEC NGLs and non-conventional liquids are forecast to grow by 0. Total OECD product stocks stood at 1,395 mb, or 59 mb below the 2015–2019 average. It is also a channel to encourage dialogue, cooperation and transparency between OPEC and other stakeholders within the industry. OPEC NGLs and non-conventional liquids are estimated to have grown by 0. 17 mb/d, according to secondary sources. In 2025, global oil demand growth is also revised down OPEC NGLs are forecast to grow by around 0. mostly increasing, C. 06 mb/d. OPEC NGLs are estimated to decline by 0. 83 mb/d. 57/b and NYMEX WTI rising by $11. 1 mb/d higher than the level estimated for 2023. 19 mb/d, representing an upward revision of 35 tb/d to now average 95. Growth of 0. Click on the Bloomberg terminal screen to view the OPEC function. 84 mb/d in 2019, following growth of 0. g. Click on the Bloomberg Terminal screen to view the OPEC function. In the OECD, oil demand is forecast to grow by about 0. 1 mb/d in 2025, while non-OECD demand is forecast to grow by about 1. 11 mb/d from the previous month’s report, mainly due to adjustments for US, Canada, Malaysia, China and UK supply, and is now estimated at 2. 12 b/d. 9 mb/d in 2020, a contraction of 2. In 2018, demand for OPEC crude is forecast at 32. Sep 16, 2022 · This paper studies the historical importance of OPEC for oil price fluctuations. 17 mb/d for the year. Its yearly round-up of critical oil and gas data and statistics has become a reputable and trustworthy industry standard, much esteemed by global energy stakeholders across the entire value chain. 1 mb/d) remains broadly unchanged at around 0. This is 58 mb lower than the 2015–2019 average. 1 mb/d y-o-y, and forecast to grow by 0. 03 mb/d to average 4. 26 per barrel while the price was $69. This minor adjustment is mainly due to updated data for 1Q24, 2Q24 and 3Q24. This is 2. Total US liquids production is estimated to have increased y-o-y by 0. Demand for OPEC crude in 2024 stands at about 28. 1 mb/d from the previous month’s assessment to stand at 30. 08 mb/d to average 4. 4%, to settle at an average of $71. In March, OPEC crude oil production increased by 821 tb/d m-o-m to average 28. In May 2019, OPEC crude oil production is estimated to have decreased by 236 tb/d, m-o-m to average 29. 15 mb/d. 5 mb/d, which is around 1. 1 mb/d to average 5. 98 mb/d, and are forecast to grow by 0. Total oil demand is now estimated to average 94. It uses Energy Institute data for refinery throughput from 2020 to 2023 and EIA and OPEC estimates for Total liquids consumption. The bulk of this overhang has come from crude, with a surplus of 170 mb, while product stocks witnessed a gain of OPEC NGLs are forecast to grow by 0. OPEC-13 crude oil production in October decreased by 210 tb/d m-o-m to average 29. The largest increases for the year were seen in Canada, which rose by 0. The estimate for non-OPEC liquids supply growth in 2021 remains broadly unchanged at 0. If not, please click here to download your copy of the Monthly Oil Market Report. The global oil demand growth forecast for 2025 remains at 1. 1 days, m-o-m, to stand at 60. 8 mb/d, an increase of about 0. OPEC-13 crude oil production in October increased by 80 tb/d m-o-m to average 27. OPEC NGLs production in 2019 is estimated to have grown by 0. The OPEC Reference Basket (ORB) value rebounded in November by $3, or 5. OPEC NGLs and non-conventional liquids y-o-y are expected to grow by 0. 05 mb/d from the previous month’s assessment to average 62. 66 mb/d, according to secondary sources. 5 mb/d above 2019 levels. 4 mb/d and increase by 50 tb/d to average 5. 13 mb/d. 0 mb/d, an increase of about 0. 04 mb/d to average 4. The organization revised its global economic growth forecast for 2024 slightly higher to 2. 6 mb/d and 5. 17 mb/d. The EV fleet approaches 540 million vehicles by 2045, representing more than 22% of the global fleet. 5 billion by 2045, an increase of almost 1 billion from 2021 levels. It is forecast at $459 billion in 2023, up by 8% y-o-y. 13 mb/d to average 5. Mar 21, 2025 · A guest post by D C The OPEC Monthly Oil Market Report (MOMR) for March 2025 was published recently. 2 days lower than the 2015–2019 average. 5 mb/d over the forecast 2024 level. For 2022, it is forecast to grow by 0. 7 million b/d of crude oil in 2022, which was 38% of total world oil production that year. Results show that price volatility is higher than typical around OPEC meetings. 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. xtbzgzzpcidnfqpowbkcrcsvcbrgwbhzalcgxdogucqbcdsl
