Bankinter | The International Energy Agency (IEA) is releasing 400 million barrels from its strategic reserves. 32 countries are contributing to this release, although the United States is leading the move with 172 million barrels. It is the largest release since 1970. For reference, following the Russian invasion of Ukraine, 172 million barrels per day were released. Bankinter analysis team’s view: We view the move positively, although the impact is…

Link Securities | According to The Wall Street Journal, sources familiar with the matter say that the International Energy Agency (IEA) has proposed the largest release of reserves in its history to lower oil prices, which have skyrocketed during the US and Israeli military conflict with Iran. According to some officials, the release could exceed the 182 million barrels of oil that EIA members put on the market twice in…

Bankinter | OPEC could accelerate production increase in June. According to press reports, several members are considering an increase in production. As a reference, OPEC will increase its production by 138,000bd in April and 411,000bd from May onwards. OPEC has the objective of bringing 2.2Mbd to market and, if this increase is maintained, it would achieve its objective in September this year, compared to July 2026, as predicted in April….

Bankinter | In its monthly report, OPEC states that Kazakhstan’s production increase was 363,000bp, to a total production of 41.01Mbd. The increase more than doubles the total production increase forecast by OPEC for April: 138,000bp. Kazakhstan is increasing its production thanks to the Tangiz field, operated by Chevron. Specifically, it is producing 1.767 Mbd, a level that compares with 1.570 Mbd in January and 1.468 Mbd of permitted quota. Other…

Bankinter | The International Energy Agency has raised its production estimate for the United States in 2025, but maintains its global demand estimate. Specifically, it forecasts that US production will reach 13.59mbd in 2025 versus the previous estimate of 13.55mbd. On the other hand, it maintains its demand estimate for the United States at 20.5mbd. Globally, it estimates that production will increase by 1.7mbd in 2025, while consumption will increase…

Bankinter | The International Energy Agency estimates that there will be global overproduction of oil over the next two years. Specifically, it estimates that world production will rise to 104.4Mbd in 2025 vs. 104.2Mbd previously. This supply contrasts with demand expected to reach 104.1Mbd vs. 104.3Mbd previously. Analysis team’s view: Negative news for oil. Moreover, it reaffirms our opinion: oil prices will moderate in the coming years due to the…

Renta 4 | The International Energy Agency’s (IEA) December oil report was published last Thursday, revising downwards its demand growth estimate for this year (+840k boe/d against 920k boe/d previously) and increasing it for 2025 (+1.1 million boe/d against +0.99 million boe/d previously) to 103.9 mln boe/d. It also published its estimate for total oil supply growth of +630k boe/d this year and +1.9 mln boe/d in 2025, to 104.8…