Oil Market Report
The IEA's monthly assessment of global oil supply, demand and stock balances.
Last refreshed: 13 July 2026 · Appears in 1 active topic
Why did June's 62-million-barrel OECD stock draw look weaker than the headline suggested?
Timeline for Oil Market Report
Reported the June OECD draw was two-thirds reserve releases
European Oil Markets: IEA draw leans on reserve barrelsWhat is the IEA Oil Market Report?
Why did the IEA cut its 2026 oil demand forecast?
How much of June's OECD oil stock draw came from strategic reserves?
Background
The International Energy Agency's July Oil Market Report (OMR), published 10 July, cut 2026 global oil demand growth to a full-year decline near 1 million barrels a day and reported OECD commercial stocks fell 62 million barrels in June, of which 44 million came from government reserve releases rather than commercial destocking, with global refinery runs 6 mb/d below year-ago levels.
Published monthly, the OMR is one of the reference documents this desk checks alongside the EIA's STEO and OPEC's MOMR for the global supply-demand balance. Its May edition projected crude throughputs falling 4.5 million b/d in the second quarter and logged 246 million barrels of observed global inventory draws across March and April. The report's Brent reference price lags live trading by design, since it is compiled before publication; the July edition's $77 assumption already sat below the $79 print the market reached days later.
