Oil Data Transparency
Joint Oil Data
Initiative Newsletter No.17 - March 2010
Description of Products
Background: The late 1990s saw extremely volatile oil markets, which some observers ascribed partly to inadequate and opaque statistics. The criticism, whether justified or not, inspired a new look at the availability and reliability of oil data.
Responding to the call from the Seventh International Energy Forum, six major international organisations agreed in June 2001 to launch a data reporting exercise. The Joint Oil Data Exercise - under the auspices of APEC, Eurostat, IEA/OECD, OLADE, OPEC and the UNSD - aimed to assess the quantity, quality and timeliness of basic monthly oil data.
A very simple questionnaire was circulated to a large number of countries, asking for month-old and two-month-old information (M-1 and M-2) (see below).
After a few years of a successful exercise, the 6 organisations decided to make it a government reporting obligation for their member countries and economies. In 2005, the IEF Secretariat took over the coordination of the JODI Initiative and developed a worldwide database on monthly oil statistics.
To access data for countries from other organisations, and for more information about this joint initiative, please consult the following website www.jodidata.org. In order to access the most recent data on OECD countries please see “Data Table” above.
Data: The oil data is collected in the format below :