# Oil Market Report - August 2019 - IEA

> The IEA's August 2019 Oil Market Report says global oil demand fell 160 kb/d year-on-year in May and grew only 520 kb/d in January to May. It cut its 2019 and 2020 demand growth forecasts by 100 kb/d and 50 kb/d, to 1.1 mb/d and 1.3 mb/d, and reports OPEC output fell 2 mb/d year-on-year in July.

- Date: 2019-08-08 · published 2019-08-08T12:00:00.000Z
- Category: report · region Global · magnitude medium
- Page: https://feedsoft.ai/events/10825-oil-market-report-august-2019-iea
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md), [Palm Oil](https://feedsoft.ai/c/PALMOIL.md)

## Why it matters

Weaker demand growth and a lower forecast point to a looser oil balance, which lowers energy prices and reduces support for biofuel-linked feedstocks such as soybean oil and palm oil.

## Read by commodity

- SBO: bearish ▼
- WTI: bearish ▼
- BRENT: bearish ▼
- PALMOIL: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2020-04-15 | [Oil Market Report - April 2020 - IEA](https://feedsoft.ai/events/4479-oil-market-report-april-2020-iea.md) | -47.7% | +11.5% |
| BRENT | 2018-07-11 | [Oil Market Report - July 2018 - IEA](https://feedsoft.ai/events/7770-oil-market-report-july-2018-iea.md) | -8.7% | -6.2% |
| BRENT | 2025-06-17 | [Oil Market Report - June 2025 - IEA](https://feedsoft.ai/events/9612-oil-market-report-june-2025-iea.md) | -1.7% | -5.5% |
| BRENT | 2018-11-13 | [Oil Market Report - November 2018 - IEA](https://feedsoft.ai/events/11336-oil-market-report-november-2018-iea.md) | -6.5% | -14.1% |
| BRENT | 2025-10-14 | [Oil Market Report - October 2025 - IEA](https://feedsoft.ai/events/22591-oil-market-report-october-2025-iea.md) | -4.5% | -0.3% |
| WTI | 2020-04-15 | [Oil Market Report - April 2020 - IEA](https://feedsoft.ai/events/4479-oil-market-report-april-2020-iea.md) | -32.0% | +25.9% |
| WTI | 2018-07-11 | [Oil Market Report - July 2018 - IEA](https://feedsoft.ai/events/7770-oil-market-report-july-2018-iea.md) | -8.2% | -6.7% |
| WTI | 2025-06-17 | [Oil Market Report - June 2025 - IEA](https://feedsoft.ai/events/9612-oil-market-report-june-2025-iea.md) | -9.9% | -6.8% |

## Sources

- iea.org: https://www.iea.org/reports/oil-market-report-august-2019

---
Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.