Full Title: Monthly Oil & Gas Data Review (July 2025)
Author(s): International Energy Forum
Publisher(s): International Energy Forum
Publication Date: July 23, 2025
Full Text: Download Resource
Description (excerpt):
Oil demand in JODI-reporting countries was down in May by 823.7 kb/d month-on-month (m/m) and by 493.5 kb/d year-on-year (y/y). The m/m decline was driven mainly by lower demand in China (-558 kb/d), Japan (-286 kb/d), and Germany(-252 kb/d). The y/y decrease was driven mainly by lower crude oil demand from the US (-411 kb/d), Germany (-184 kb/d), The Netherlands (-137 kb/d), South Korea (-133 kb/d) and China (-103 kb/d). The global Gasoline demand in the preliminary JODI reporting countries rose slightly by 48 kb/d, whereas Diesel, Kerosene and LPG demand declined respectively by 960 kb/d, 147 kb/d, and 379 kb/d m/m. Global Crude oil production in JODI-reporting countries declined by 247.8 kb/d m/m and rose by 713.9 kb/dy/y. The m/m and y/y decline noted a decrease of oil production mainly from Canada (-204 kb/d), the US (-70 kb/d), the UK (-66 kb/d) and Norway (-64 kb/d). The y/y growth was mainly driven by higher production from the US (+197 kb/d), Nigeria (+192 kb/d), Venezuela (+156 kb/d), Norway (+101 kb/d) and China (+76 kb/d). Crude inventories in JODI-reporting countries were up by 7.8 mb in May m/m, settling at 169 mb below the 5-year average. Product inventories were up by 38.2 mb, m/m and settled at 56.7 mb below the 5-year average.