Global oil supply/demand, production and reserves added to Energy Statistics
Global oil trade and proven reserves data is now available on the Energy Statistics page.
Global supply/demand estimates by the International Energy Agency (IEA) and OPEC are shown for the past 5 years, including projections into 2017. Note that supply/demand data from the US Energy Information Administration (not shown) lies approximately in the middle of IEA and OPEC forecasts. Discrepancies between the numbers are attributed to oil volumes in transit and difficulties in estimating stockpiling volumes in Asia and the Middle East.
Crude oil production has also been added to the database, as well as proven global oil reserves for the top 15 nations. The data represents the 2015 average, as provided by the EIA.
Supply and demand data will be updated quarterly, while production and reserves data will be adjusted on a monthly basis.