(c) International Conventions and Agreements: The Member countries of the
International Energy Agency (IEA) maintain minimum levels of oil stocks based on
specific agreements.
(d)
International Targets/Recommended Standards: The IEA provides
recommended levels of oil stocks to its Member countries.
(e) Linkages to Other Indicators: This indicator is linked to indicators of annual
energy production, annual energy use, imports, prices and resources.
METHODOLOGICAL DESCRIPTION
(a) Underlying Definitions and Concepts: Stocks of critical fuels, in particular oil,
and the corresponding annual consumption provide an indication of energy supply
security. Countries decide the appropriate levels of stocks of the critical fuels needed.
(b) Measuring Methods: This indicator is defined by dividing the stocks of the
critical fuels maintained by countries by the corresponding daily, monthly or annual
fuel consumption.
(c) Limitations of the Indicator: The rate of use of fuels, in particular oil, depends
on many factors, including economic conditions, prices and technological progress.
Therefore, this indicator represents only a relative measure of energy supply security.
Many countries still cannot afford to maintain adequate levels of stocks of critical
fuels.
(d) Alternative Definitions/Indicators: Total stocks of critical fuels.
ASSESSMENT OF DATA
(a) Data Needed to Compile the Indicator: Data on stocks of critical fuels and the
corresponding annual consumption.
(b) National and International Data Availability: Data on stocks of critical fuels
and the corresponding annual consumption are available from national energy and
statistics bodies and for Organisation for Economic Co-operation and Development
(OECD) countries from the IEA.
REFERENCES
• IEA, 2002. Fact Sheet on IEA Oil Stocks and Response Potential. Paris,
France: International Energy Agency.
• IEA, 2004. Security of Gas Supply in Open Markets — LNG and Power at a
Turning Point. Paris, France: International Energy Agency.
• Priddle, R., 2002. A New Perspective on Energy Security. Paper presented at
the 25th Annual IAEE Conference, 26–29 June, Aberdeen, UK.
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