 So, hello everyone. I hope everyone can see the slideshow and also hear my voice. So, nice to meet you everyone. My name is Byung Ho Jung and today I'm going to walk you through the oil statistics overview. I'm going to walk you through over the three steps. First, I'm going to show you the general key oil trends and key concepts of the oil statistics. And finally, the key points when reporting oil data. The first slide that I'm showing right now is this supply side of the oil. And on the left hand side, we see the two comparison between 1973 and 2021. And even if the overall share of the oil that contributes to the energy supply has been decreased since 1973. We still see that it is still the largest energy source accounting for 29% in 2021. And it is followed by coal and natural gas accounting for 27 and 24% respectively. If we see on the right hand side, there are two tables showing the energy oil production landscape between 2016 and 2022. Back in 2016, we see the Saudi Arabia and Russian federations are top oil producers at the time. However, since 2017 and continuing on 2022, we see that United States becomes the top oil producer. Let's take a look at the refinery sector. On the left hand side, this stacked graph shows the world refinery output by products. Currently, back in 2020, we see a primary decline in the oil demand due to the COVID pandemic crisis. And in 2021, based on our data collection last cycle, we see rebounds after a primary decline in 2020. And because this graph is showing the fuel-wise demand data, we see that mainly motor gasoline and middle distillates, which include gas-digit oil, are the primary source of oil demand in the world. When we look at the right hand side graph, it shows the regional-wise information. And of course, we see a deep decline in 2020. But when it comes to the region, we see that Asia shows the highest growth in the refinery sector. And interestingly, it shows the lowest decline in 2020, which means that it had a less least impact by the COVID-19. Again, when we look at the demand side data, on the left hand side, we see that the oil product demand is mainly driven by Asia. And when it comes to the sectoral consumption data on the right hand side, we see that roads and non-energy use are the main source that consumes the oil energy. All this information can be found in the Oil Information 2023 publication and World Energy Statistics and Balances publication. Now moving on to the key concepts of the oil products. First, we can classify oil products between primary and secondary oil products. And in between, we have a process called refinery. Primary oil products consist of these products listed here, including crude oil, condensates, natural gas liquids, and the other synthetic crude oil, etc. Secondary oil products have various kinds of the oil products here listed here. The detailed specification can be found in our annual oil questionnaire reporting instruction file or in the IRS guideline. And in addition to primary oil products, we have also secondary products inputs that goes to the refinery, such as additives or refinery feedstocks. Here, I just want to touch up on one product here, condensates. We have two types of condensates that we cover in our annual oil statistics. One is the field condensate that is recovered from associated and non-associated gas fields that we just learned from NOAA and NOAA's presentation before. And we regard that as a crude oil, so we report this portion under the crude oil column in the oil annual questionnaire. On the other hand, we also have a plant condensate that is recovered from the natural gas processing plants or separation facilities. And in the oil questionnaire, we consider that as a NGL natural gas liquids. So that is small instruction that I'd like to give you here when you report data in our oil annual questionnaire. Further, going further, we can also use several characteristics to further classify oil products. The first characteristics can be density. So as you all know, most of oil is lighter than water, but there is also an extra heavy oil that has a higher density than the water. And this specific gravity or density is very much important information to convert from mass to volume and vice versa. We have also a parameter called API to determine the density of oil products. And when it comes to the secondary oil products, we can distinguish those products depending on the density of the secondary oil products. Next indicator that we can use to classify oil products can be surfer contents. Surfer is an undesirable impurities, and we want to remove this impurity before it is properly used. So if there is a high surfer content in the oil, we call it as a sour crude, or if there is a lower sulfur content, we call it sweet crude. There is a range of surfer content in the oil between like down to 0.05 or sometimes to above 5%. And from an average crude oil better, we want to remove 70 or 80% of cell surfer to meet the product specification. Finally, we can classify based on the energy content. We can simply call it NCV, net calorific values, and it means the heat contained in the products when it's burned. We collect different types of NCV as we see on the right-hand side, NCV for production level, NCV for imports and exports. And finally, we can calculate the average NCV using the weighted average methodology. And because of there are so many characteristics, different characteristics between the oil, it has a wide range of physical and chemical properties. One example here is showing, depending on the contained surfer contents, it has an inherent yield ratio between lights, sweets, and heavy sour crude oil. And one more thing relating to this refinery specification is that normally we have expected range of the yield ratio from the national refinery plants. So one example is that because we know that reconfiguring refinery is very expensive and we expect to see quite stable refinery yields from the country. Here I brought some graphs over the last decades of one country. For example, when we look at this 2011 data, we clearly see that there is a high yield of gas diesel oil in one year, which makes us to validate this data by asking queries to the data reporters, to the country, to the country vocal points to make sure that this data is indeed correct, maybe due to the maintenance of the refinery or maybe it can be the error, data reporting error. So we need to make sure that this 2011 data is outlier or no. Now, after learning the characteristics of oil products, let's take a look at the oil balance. First, we can have a look at the supply side of the primary oil products. So primary oil products here means that it is produced indigenously, and which means that it can be, it's extracted from the natural resources. So looking at the left hand side, it shows the well had production and to be reported in our oil balance in the questionnaire. We need to make sure that the data is is based on the marketable status or not. As all the fuels covered before, just like natural gas, we want to report the marketable status of oil product in our question. Before a questionnaire, we also have flow calls from other sources that treats the portion of oil products that is already covered in the another questionnaire. One good example is the biofuel, let's say biogasoline, because it is first reported as an indigenous production in the renewable questionnaire. And if it is blended or intended to blend to the conventional fossil fuel, such as non-biogastry oil, then that portion is reported from other sources flow in our oil questionnaire. We have obviously like two trades, exports and imports. And similar to the gas, we can build and draw stock that is playing a key role to make a balance between supply and demand. And in the oil world, we have a petrochemical industry that is both producer and consumer at the same time. And some of the products that are delivered to the final users can go back to the refinery process again, and for further processing, then we use this flow called backflows. We have a flow called direct use that is meant to report the oil products that doesn't go through the refinery process. It can be directly burned, for example, then this is the space that we report that oil products. Products transferred means that some of the finished or semi-finished products can be reclassified for further processing. For example, if NAFTA is imported, but it needs the further processing to upgrade the quality of the oil products, then the NAFTA first is reported under import flow, under NAFTA column, and it's reported with a negative sign under products transferred, and it appears as a refinery feedstock in the supply side of the balance table. And as the arrow shows, it goes into the refinery plant again for further processing. So we just covered the supply side of the primary oil product. Now let's get down to the supply of the secondary oil products. On the left-hand side, we have a list of the secondary oil products from refinery gas, LPG, NAFTA, BIT, etc. So we have a refinery gross output that is the production of the oil products from the refinery plants. And some of them could be used as a refinery fuel to help operate the refinery facilities. And inter-product transfers is used for the reclassification of the oil products. For example, kerosene can be blended with the gas oil in order to meet its winter specification. In that case, we report kerosene with the negative sign under inter-product transfers, and that portion will appear with the plus sign under gas oil inter-product transfers flow. There is a general rule when we use this inter-product transfers, which generally we observe the light product to the heavier one. So for example, kerosene to gas oil could be the possible option, but there is also not likely option in the red box below, which we don't really expect to see in the reporting. This is the product transfer that I mentioned earlier. As we see here, this portion is discounted from this balance and this dotted arrow leads this portion to go back to the refinery process again. The primary product reads it. Again, one good example is the biogasoline that is blended into the non-biogasoline. And there could be some recycled products in the country. And we also report international marine bunkers here and trade and stock build and stock draw. So since we cover the supply of the oil, primary oil and secondary oil products, it is very key to understand the refinery process. And using the data reporting the oil questionnaire, we can have a very important parameter, which is refinery efficiency, to validate if the data is reasonable or not. And losses can always occur during the refinery process due to the evaporation. So when the refinery intake is larger than the refinery gross output, we call it as a refinery losses. And vice versa, the other opposite case we call refinery gains. And the units matter here because when it comes to the mass and energy units, we always want to see the refinery losses following the fiscal rule. However, when the data is reporting in volume units, sometimes we see that we see some refinery gains. The similar concept is the refinery yield using the output and intake of the refinery plants. And oil balance, in the oil balance, we just showed the international marine vertical consumption. One key message that I want to highlight here is that the domestic and international split should be determined on the basis of port of departure and port of arrival, not the flag or ownership of the ship. Here we get up to the final consumption part and depending on the characteristics and properties of the oil products, it has expected economic sectors that consumes the corresponding oil products. So, since due to the lack of time, I will just a little bit speed up for the rest of the presentation, which is about key points for reporting annual oil. To report all of these different kinds of oil products in the oil IEA annual oil questionnaire, we have a number of tables, and each table is correlated to each other. And plus, oil questionnaire is again is related to the another field questionnaire. And here are some tips to ensure the consistency between the questionnaires and tables. First, it's about natural gas liquids. So natural gas liquids generally consists of ethane, propane, butane, etc. The thing is that the heavier fractions are often further processed in the refinery, but the lighter fractions are generally used directly. So let's take a look at the first option. What about natural gas liquids processed in refinery? So we have two tables used here. One is table one, where we report here example is 100 kiloton of NGL is reported as indigenous production, and then it goes into the refiner intake. And somehow this refiner plants converts this NGL into non-biogasaline, so we report in table 2A the refiner goes output here. Another example, what if the NGL is used directly? And we have a flow called direct use. And here 50 kiloton of NGL is first reported under the indigenous production, and it goes into direct use. We see that there is a zero refiner intake. And these directly used NGL can be reported in the another table to indicate that it is here in this case it is transferred to the LPG. So with the minus sign, we indicate minus 50 kiloton of NGL under inter-product transfers and 50 kiloton of LPG appears on the right hand side. And it always have to be zero. The net inter-product transfers has to be always zero, and that's one of our criteria to validate the data. And next tricky reporting issue is the biofuel. And just one very key important message here is that pure biofuels, pure, should only be reported in the renewable balance. If that biofuel is blended or intended to blend into the conventional fossil fuels, then our oil questionnaire comes into play. So on the right hand side, that is the example of an oil questionnaire. And first report biofuel portion in table one under research from other sources and direct use. And in the another table, we indicate the portion of the biofuels for blending. For this, we have a bonus question in the exercise, so we will have a more closer look there. And then finally, we have a petrochemical flows. I mentioned earlier, because that is the both producer and consumer of the oil products, it's really tricky sometimes or more than sometimes to report data here. And we have a specific flow backflows to statistically represent this portion. So from refinery to gross inland deliveries, some of them are used and go to the petrochemical industry for energy use or non energy use. We can distinguish these two portion, these two flows, and there is energy output and non energy output. And we only follow this energy output as as a backflows, because it contributes to the refinery inputs. Sometimes is this backflow can be directly exported or sale. And we have to highlight here that non energy use output from petrochemical industry is not part of our oil annual oil questionnaire. To close up my presentation. Here's the slides to access to all of our publications waiting to the energy data. And as mentioned here are some information for you. Thank you for your attention. It's very tight. So I hope you understand well, and I welcome any questions that you have. Thank you.