2016年，世界石油市场最重要事件是：①石油价格从2月的30美元/桶的谷底回升至年底的55美元/桶，上升了近一倍，但仍然只有2014年石油价格战开打时的一半；②欧佩克和非欧佩克石油出口国于2016年11月30日达成减产协议，该协议有效期半年，减产配额于2017年1月1日开始执行，至2017年2月底，协议执行率高达94%，支撑了国际市场的油价和行业投资者的信心。
2014年、2015年、2016年世界石油需求分别为9345万桶/日、9523万桶/日和9650万桶/日。同期世界石油的供给分别为9412万桶/日、9675万桶/日和9810万桶/日。这三年供给大于需求的数量分别是67万桶/日、152万桶/日和160万桶/日。供给大于需求的这部分石油进入了库存，三年累计增加的库存就高达13.8亿桶之多。石油供给平衡的一个重要指标就是：库存增量基本出清回归正常水平。2016年8月，经合组织（OECD）国家库存达到峰值并开始下降，乐观人士认为“世界石油供需平衡就在下一个街口”，而2016年10月美国页岩油产量重新快速增长态势令“石油价格战是否将再次开打”的问题又摆到了分析师的桌面上。
There are two remarkable events in the world oil market：①oil price increased to about $55pb by the end of the year already doubled from the bottom of $28pb at Feb. 2016，but still only half cut at the “oil price war” began time at Nov.2014. ②Opec and some Non-OPec oil export countries reached agreement to cut their products at 30 Nov.2016，the agreement have been executed very well since it was signed，that busted the confidence of the market and the investors.
The oil production and demand was 94.12mbd/93.45mbd，96.75mbd/95.23mbd，98.10mbd/96.50mbd，over supplied at 0.67mbd，1.52mbd and 1.6mbd，in the year of 2014，2015 and 2016. The over supplied oil has to be stockpiled up，the accumulated inventory as high as 1.38B barrels for last three years，a historic high oil storage has been build up worldwide. The over build storage cleaned up and goes back to normal volume is one of the major sign of the balance of the supply and demand of oil. The OEDC oil storage was draping at the peak volume at Aug.2016，giving a pleasure signal of “balance is on the next corner”，but quick increased US shale oil production started at Oct.2016 bringing back the argument：“will the oil price war restart again？”
