SAFE’s Energy Security Fact Pack gives readers a data-driven overview of the latest trends in energy security, including domestic and global oil production and consumption, oil market dynamics and prices, and up-to-date information on fuel efficiency and alternative fuel vehicles.
The Energy Security Fact Pack for Q2 2016 examines the slow pace of the oil market’s rebalancing, continued price volatility, record electric vehicle sales, and more.
During a time of unprecedented uncertainty in energy markets, SAFE’s Fact Pack includes the following insights:
Global oil demand grew by approximately 1.6 million barrels per day (mbd) year-over-year (y-o-y) in Q2 driven by non-OECD countries, which grew by 1.1 mbd y-o-y.
Global oil supply grew just 0.4 mbd y-o-y in Q2, far below the 2.9 mbd of growth seen in Q2 2015.
U.S. oil demand increased 0.2 mbd y-o-y for a second consecutive quarter.
Total U.S. liquids supply declined y-o-y for the first time in more than seven years in Q2, by 0.4 mbd.
In the OECD, commercial stocks rose to 3.1 billion barrels in June, up 7% y-o-y, or 203 million barrels. These supplies provide an estimated 67 days of forward cover, an increase of 8 days versus June 2014.
Total U.S. vehicle miles traveled has increased for nine consecutive quarters, in Q2 growing by approximately 3.2%, or 287 million miles y-o-y.
Although sales of plug-in electric vehicles reached historic highs in Q2, new light-duty truck sales accounted for approximately 60% of total light-duty vehicle sales.
The full Fact Pack includes data on Chinese fuel demand, the oil intensity of the U.S. economy, surging global inventories, and much more. Click here to view the full Fact Pack, and read our coverage on The Fuse.