bp statistical review and jodi data · bp statistical review and jodi data jodi conference ....
TRANSCRIPT
![Page 1: BP Statistical Review and JODI data · BP Statistical Review and JODI data JODI Conference . October 2017 . Richard de Caux, BP Economics](https://reader030.vdocuments.net/reader030/viewer/2022040307/5ed3a23918dc2351871e45a5/html5/thumbnails/1.jpg)
BP Statistical Review and JODI data JODI Conference October 2017
Richard de Caux, BP Economics
![Page 2: BP Statistical Review and JODI data · BP Statistical Review and JODI data JODI Conference . October 2017 . Richard de Caux, BP Economics](https://reader030.vdocuments.net/reader030/viewer/2022040307/5ed3a23918dc2351871e45a5/html5/thumbnails/2.jpg)
Statistical Review of World Energy
© BP p.l.c. 2017
• Comprehensive global coverage of energy market data, available for free.
• Includes analysis and discussion of key trends in the energy market
• First publication to show complete global data for previous year.
• In 66th year.
![Page 3: BP Statistical Review and JODI data · BP Statistical Review and JODI data JODI Conference . October 2017 . Richard de Caux, BP Economics](https://reader030.vdocuments.net/reader030/viewer/2022040307/5ed3a23918dc2351871e45a5/html5/thumbnails/3.jpg)
Statistical Review data sources
© BP p.l.c. 2017
• Largely dependent on statistics offices, energy ministries and energy companies.
• Increasing availability of primary data online
• Also use third-party sources (e.g. IEA, Eurostat and JODI) and specialist consultants, such as ICIS
• We make use of monthly data when annual data no available
![Page 4: BP Statistical Review and JODI data · BP Statistical Review and JODI data JODI Conference . October 2017 . Richard de Caux, BP Economics](https://reader030.vdocuments.net/reader030/viewer/2022040307/5ed3a23918dc2351871e45a5/html5/thumbnails/4.jpg)
Statistical Review data issues
© BP p.l.c. 2017
• Non-OECD data generally harder to find. But Non-OECD becoming larger share of energy market.
• Definitions – naphtha vs gasoline, gasoil vs fuel oil etc.
• Certain data falling through the cracks – e.g. oil used in petrochemicals or power, or natural gas liquids (particularly ethane).
• Fiscal year versus calendar year. Monthly data useful for this
![Page 5: BP Statistical Review and JODI data · BP Statistical Review and JODI data JODI Conference . October 2017 . Richard de Caux, BP Economics](https://reader030.vdocuments.net/reader030/viewer/2022040307/5ed3a23918dc2351871e45a5/html5/thumbnails/5.jpg)
JODI data: the positives
© BP p.l.c. 2017
• Extremely valuable – often only source of short term data for many non-OECD countries.
• Structurally improving coverage and data presentation
![Page 6: BP Statistical Review and JODI data · BP Statistical Review and JODI data JODI Conference . October 2017 . Richard de Caux, BP Economics](https://reader030.vdocuments.net/reader030/viewer/2022040307/5ed3a23918dc2351871e45a5/html5/thumbnails/6.jpg)
JODI data: some issues
© BP p.l.c. 2017
• Periodic missing or rogue data
0
100
200
300
400
500
Jan-13 Jan-14 Jan-15 Jan-16 Jan-17
Kb/d JODI data example (oil demand)
![Page 7: BP Statistical Review and JODI data · BP Statistical Review and JODI data JODI Conference . October 2017 . Richard de Caux, BP Economics](https://reader030.vdocuments.net/reader030/viewer/2022040307/5ed3a23918dc2351871e45a5/html5/thumbnails/7.jpg)
JODI data: some issues
© BP p.l.c. 2017
• Periodic missing or rogue data
• Definition of demand. Sales versus total primary consumption.
0.0
0.5
1.0
1.5
2.0
2.5
3.0
3.5
2007 2010 2013 2016
Mb/d Annual oil demand
Saudi Arabia
Iraq SR
JODI
SR
JODI
![Page 8: BP Statistical Review and JODI data · BP Statistical Review and JODI data JODI Conference . October 2017 . Richard de Caux, BP Economics](https://reader030.vdocuments.net/reader030/viewer/2022040307/5ed3a23918dc2351871e45a5/html5/thumbnails/8.jpg)
JODI data: some issues
© BP p.l.c. 2017
• Periodic missing or rogue data
• Definition of demand. Sales versus total primary consumption.
• Stocks: a bit hidden!
![Page 9: BP Statistical Review and JODI data · BP Statistical Review and JODI data JODI Conference . October 2017 . Richard de Caux, BP Economics](https://reader030.vdocuments.net/reader030/viewer/2022040307/5ed3a23918dc2351871e45a5/html5/thumbnails/9.jpg)
JODI data: some issues
© BP p.l.c. 2017
• Periodic missing or rogue data
• Definition of demand. Sales versus total primary consumption.
• Stocks: a bit hidden!
• Lagging data from some countries – sometime several months.
![Page 10: BP Statistical Review and JODI data · BP Statistical Review and JODI data JODI Conference . October 2017 . Richard de Caux, BP Economics](https://reader030.vdocuments.net/reader030/viewer/2022040307/5ed3a23918dc2351871e45a5/html5/thumbnails/10.jpg)
JODI data: some issues
© BP p.l.c. 2017
• Periodic missing or rogue data
• Definition of demand. Sales versus total primary consumption.
• Stocks: a bit hidden!
• Lagging data from some countries – sometime several months.
• Coverage could still be improved. Would a separate annual data database help?
0
20
40
60
80
100
Covered
Oil demand – JODI coverage (from July 2016 onwards)
Mb/d
14% not covered
![Page 11: BP Statistical Review and JODI data · BP Statistical Review and JODI data JODI Conference . October 2017 . Richard de Caux, BP Economics](https://reader030.vdocuments.net/reader030/viewer/2022040307/5ed3a23918dc2351871e45a5/html5/thumbnails/11.jpg)
Conclusion
© BP p.l.c. 2017
• JODI is a valuable resource for short term and long term energy market analysis.
• The data quality, coverage and presentation are improving.
• But there are potential areas for improvement in each of these.
• There always is!