Professional Documents
Culture Documents
2016
The following analysis is an excerpt from the publication Oil Information (2016 edition).
Please note that we strongly advise users to read definitions, detailed methodology and country specific notes
which can be found online under References at www.iea.org/statistics/topics/oil/
Please address your inquiries to oilaq@iea.org.
Please note that all IEA data is subject to the following Terms and Conditions found on the IEAs website:
http://www.iea.org/t&c/termsandconditions/
Oil production
In 2015 1 , world oil production 2 reached 4 461 Mt
(94.2 Mb/d), an increase of 3.0% on 2014 (130 Mt,
2.5 Mb/d), representing steady growth in the OECD
(+4.2%, 47 Mt, 1.1 Mb/d) and OPEC (+3.7%, 64 Mt,
1.3 Mb/d) and an average lower growth in other producing countries (+1.3%, 19 Mt, 0.4 Mb/d). In 2014,
OPEC production declined (1.0%), while the OECD
and the rest of the world showed substantial growths
(+8.4% and +1.6%, respectively).
Total world production includes crude oil, NGLs,
other hydrocarbons and 106 Mt (2.2 Mb/d) of liquid
biofuels.
Figure 1. World oil production by region
Million tonnes
200
175
100
10%
150
80
8%
125
60
6%
100
40
4%
75
20
2%
50
0%
25
-20
-2%
-40
-4%
-60
-6%
1975 1980 1985 1990 1995 2000 2005 2010 2015p
0
1975 1980 1985 1990 1995 2000 2005 2010 2015p
OECD
OPEC
Million tonnes
y-o-y growth - %
Million tonnes
80
80%
70%
60%
50%
40%
30%
20%
10%
0%
-10%
-20%
60
40
20
0
-20
United Canada
States
UK
30
20
10
0
-10
-20
-30
Growth 2013-2014
Growth 2014-2015p
Share over total OECD production in 2015p (right axis)
Refining
In 2014, world refinery output, excluding liquid
biofuels components, increased by 1.2% (46 Mt,
960 kb/d), the highest annual growth since the impact
of the economic recovery during 2010.
Figure 4. World refinery output
200
8%
150
6%
100
4%
50
2%
0%
-50
-2%
-100
-4%
-150
-6%
1974
1984
1994
Million tonnes
2004
2014
y-o-y growth
Million tonnes
1 200
600
1 000
500
800
400
600
300
400
200
200
100
0
1975 1980 1985 1990 1995 2000 2005 2010 2015p
OECD Asia Oceania
OECD Americas
OECD Europe
Trade
In 2014, trade of crude oil and NGL declined (1%
from 2013) but remained more significant than trade
of products (1.85 times in mass units, 1.75 in volumes). The growth in trade of products (+1%)
outpaced trade of crude oil for the tenth consecutive
year.
Figure 9. Variation in trade of primary
and secondary oil products
Million tonnes
150
0
1974 1979 1984 1989 1994 1999 2004 2009 2014
United States
China
100
20%
50
0%
-50
OECD Total
OECD Americas
-100
-150
Oil products
OECD Europe
OECD Asia Oceania
Million tonnes
400
Demand
350
300
250
200
150
100
50
0
1990
1994
1998
Saudi Arabia
2002
2006
Russia
2010
2014
Canada
2 000
1 000
1 500
500
0
Africa
Non-OECD
Europe/Eurasia
Non-OECD
Americas
Middle East
China (Region)
Asia excluding
China
OECD
OECD
Non-OECD
1 400
1 200
1 000
800
600
400
200
2014
2013
2014
2013
2014
2013
2014
2013
2014
2013
2014
2013
Middle
Motor
LPG
Aviation Residual Other
distillates gasoline naphtha fuels
fuel oil products
150
100
50
Power and
heat
48%
Marine
bunkers
36%
-50
Industry
9%
-100
-150
Refinery
fuel
7%
3 500
Other
fuels
Oil
3 000
2 500
2 000
1 500
1 000
500
-10
10
20
30
Road
Aviation bunkers
Refinery fuel
Non-energy use
Marine bunkers
Industry
Resid., agri., services
Power and heat
OECD
Non-OECD
weak economy and strong efficiency gains led to lower motor gasoline demand in Japan.
Motor gasoline
LPG
6
4
2
Liquid biofuels
Global growth in liquid biofuels production was
achieved in 2014. Modest global expansion was underpinned by 1) favourable feedstock crops in key markets
such as the United States and the European Union,
2) new and increased biofuel mandates in several
countries, and 3) emerging Southeast Asian biofuel
production markets.
In the OECD, the share of liquid biofuels blending
in gas/diesel and motor gasoline remained relatively
stable.
0
-2
-4
OECD Americas
OECD Europe
OECD Asia
Oceania
8%
7%
6%
5%
4%
3%
2%
1%
0%
Biodiesel in gas/diesel
Biogasoline in motor gasoline
Total biofuels in gas/diesel + motorgasoline
Prices
US dollars/barrel
For the full year 2015 and the first quarter of 2016,
crude oil import costs fell sharply in all major IEA
member countries. Year on year, average import costs
in IEA member countries continued to show large
falls, registering a 40% drop overall. The largest decreases occurred in Japan and Korea (41%).
Figure 23. Nominal and real crude oil import costs
(IEA average)
US dollars/barrel
150
150
125
100
75
50
25
0
2000 2002 2004 2006 2008 2010 2012 2014 2016
Dubai
125
North Sea
WTI
100
75
50
25
0
2000 2002 2004 2006 2008 2010 2012 2014 2016
Nominal