Oil 2019: Analysis and Forecasts to 2024

Oil 2019, the International Energy Agency’s annual outlook for global oil markets, examines the key issues in demand, supply, refining and trade to 2024. This year, the report covers the following themes: A changed supply picture led by the rise of the United States inworld markets thanks to rapidly-growing shale oil production, asit becomes a net exporter of crude oil and products. Supply growth in the non-OPEC world, including Brazil, Canada,Norway and Guyana; and a falling capacity for the OPECproducers. Demand growth underpinned by China and India and by thegrowing importance of petrochemicals as the industry invests tomeet rising consumer demand. And a detailed analysis of how the refining industry is grapplingwith the International Maritime Organisation’s new marine fuelrules, growing excess capacity, and the changing patterns ofglobal oil trade.