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IEA Oil Market Report
Concept

IEA Oil Market Report

The IEA's monthly assessment of global oil supply, demand and stock balances.

Published monthly by the International Energy Agency, the Oil Market Report tracks global oil supply, demand and stocks; its 10 July edition cut 2026 demand growth to a full-year decline near 1 million barrels a day, with its Brent price compiled ahead of release.

Last refreshed: 17 August 2026 · Appears in 1 active topic

Key Question

Why did June's 62-million-barrel OECD stock draw look weaker than the headline suggested?

Timeline for IEA Oil Market Report

#28 19 Jul

Mentioned in: German gas plants priced out of merit

European Energy Markets
#17 15 Jul

Mentioned in: IEA's first oil build in four months

European Oil Markets
#17 15 Jul

Mentioned in: OPEC cuts 2026 demand a fourth time

European Oil Markets
#16 10 Jul

Reported the June OECD draw was two-thirds reserve releases

European Oil Markets: IEA draw leans on reserve barrels
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Background

The Oil Market Report (OMR) is the International Energy Agency's monthly assessment of global oil supply, demand and stock balances. It sits alongside the EIA's Short-Term Energy Outlook and OPEC's Monthly Oil Market Report as one of three reference documents traders and policymakers use to track the global crude balance each month.

Because its Brent reference price is compiled ahead of publication, the Report's price assumption is set by design to lag live trading rather than track it in real time; readers use the Report for its supply, demand and inventory analysis rather than as a live price benchmark.

OPEC's rival Monthly Oil Market Report and the IEA's OMR have, through 2026, tracked in the same direction on demand growth more often than not, a rare point of agreement between forecasters that otherwise compete to shape market expectations.

Common Questions
What is the IEA Oil Market Report?
The International Energy Agency's monthly assessment of global oil supply, demand and stock balances, published alongside the EIA's STEO and OPEC's MOMR as a core reference for the desk.Source: International Energy Agency
Why did the IEA cut its 2026 oil demand forecast?
The July Oil Market Report cut 2026 global demand growth to a full-year decline near 1 million barrels a day, citing weaker consumption alongside a 62-million-barrel June OECD stock draw.Source: International Energy Agency
How much of June's OECD oil stock draw came from strategic reserves?
44 million barrels of the 62-million-barrel June draw came from government reserve releases rather than commercial destocking, according to the IEA's July report.Source: International Energy Agency
When is the IEA Oil Market Report published?
Monthly; the July 2026 edition was published on 10 July.Source: International Energy Agency
Why did global oil inventories rise even though onshore stocks were still falling in July 2026?
The IEA's July Oil Market Report logged the first worldwide oil inventory build in four months, about 21 million barrels, but entirely as floating storage (oil-on-water). Onshore inventories, including the 62-million-barrel OECD commercial draw, continued to fall over the same period.