# Oil Market Report - March 2021 - IEA

> The IEA's March 2021 Oil Market Report forecasts world oil demand rebounding by 5.5 mb/d in 2021 after a 2020 contraction, with vaccine deployment supporting growth in the second half. It also reports global supply fell 2 mb/d in February due to a U.S. cold snap and an extra Saudi cut.

- Date: 2021-03-17 · published 2021-03-17T12:00:00.000Z
- Category: report · region Global · magnitude medium
- Page: https://feedsoft.ai/events/6203-oil-market-report-march-2021-iea
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

A strong demand recovery alongside constrained supply tightens the crude balance and supports energy prices. Higher energy costs raise feed production and transport expenses.

## Read by commodity

- WTI: bullish ▲
- BRENT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2022-03-14 | [Oil Market Report - March 2022 - IEA](https://feedsoft.ai/events/5992-oil-market-report-march-2022-iea.md) | -3.7% | -11.6% |
| BRENT | 2022-06-01 | [Oil Market Report - May 2022](https://feedsoft.ai/events/41560-oil-market-report-may-2022.md) | -0.4% | -3.3% |
| BRENT | 2023-03-01 | [Oil Market Report - February 2023](https://feedsoft.ai/events/37512-oil-market-report-february-2023.md) | -0.5% | -6.2% |
| BRENT | 2024-01-23 | [Oil Market Report - December 2024 – Analysis - IEA](https://feedsoft.ai/events/32023-oil-market-report-december-2024-analysis-iea.md) | +2.9% | +4.5% |
| BRENT | 2021-08-31 | [OPEC+ sees tighter oil market until May 2022 \| Reuters](https://feedsoft.ai/events/45471-opec-sees-tighter-oil-market-until-may-2022-reuters.md) | -0.4% | +8.7% |
| WTI | 2022-03-14 | [Oil Market Report - March 2022 - IEA](https://feedsoft.ai/events/5992-oil-market-report-march-2022-iea.md) | -4.2% | -10.1% |
| WTI | 2023-03-01 | [Oil Market Report - February 2023](https://feedsoft.ai/events/37512-oil-market-report-february-2023.md) | +2.0% | -4.9% |
| WTI | 2024-01-23 | [Oil Market Report - December 2024 – Analysis - IEA](https://feedsoft.ai/events/32023-oil-market-report-december-2024-analysis-iea.md) | +2.5% | +4.4% |

## Sources

- iea.org: https://www.iea.org/reports/oil-market-report-march-2021

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