2022-12-03-IEA-2022年11月度油气数据审查_最新JODI油气数据库更新的总结结果（英）_23页_321kb

报告摘要

Global Demand: September saw a seasonal climb in oil demand to the year's second-highest level, slightly above 2019 levels (up 101% YoY). The surge was driven primarily by China, the US, and Indonesia.
Product Demand: Gasoline demand increased counter-seasonally, reaching a 5-year seasonal high. Diesel demand jumped by over 600 kb/d month-on-month, significantly beating year-ago levels, largely due to China, Indonesia, and India. Fuel oil and LPG demand also remained strong, sitting well above the 5-year average.
Crude Production: September saw a marginal decrease in global crude oil production, despite gains in the US, China, and Canada, due to declines in Norway and Angola. Saudi production declined slightly but remained above the 11.0 mb/d ceiling. Russian crude output fell (7 kb/d) to 9.99 mb/d, down significantly (~270 kb/d) from its pre-war levels.
Inventory: Crude inventories decreased seasonally, remaining below the 5-year average. Inventory levels for crude and oil products combined were 442 million barrels below the 5-year average.

Global Consumption & Production: Natural gas production decreased slightly in September, remaining about 9.3 billion cubic meters below year-ago levels, largely due to weak Russian production. Russian output climbed slightly but still remained at a 5-year seasonal low and down 30% from pre-invasion levels. EU+UK gas consumption dropped to a 5-year seasonal low, while LNG imports nearly doubled year-on-year. EU+UK inventories built 8.7 billion cubic meters, reaching ~89% full.
Demand & Imports: Global natural gas demand fell slightly in September (1.8 bcm) and was less than seasonally normal decreases, standing at a record high. US and Canadian demand helped offset the weaker consumption in the EU+UK. Europe's LNG imports eased from their 2Q22 highs but were still nearly double year-ago levels.
Inventory: Global natural gas inventories increased by 20.3 billion cubic meters in September but were still 7.2 billion cubic meters below the 5-year average.

Oil demand is recovering and exceeding pre-pandemic levels; diesel demand is particularly strong. Crude production declined slightly overall but remains below pre-invasion Russia levels. Inventories continue to run below the 5-year norm.
Natural gas production remains below year-ago levels, heavily impacted by Russia. European consumption has contracted significantly, driving up LNG imports though inventories were still built. Global gas demand reached a seasonal peak in September.

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