The International Energy Agency (IEA) does not expect a major increase in global oil prices despite efforts by OPEC and non-OPEC members to reduce output, its executive director Fatih Birol Continue Reading
Oil rebounded above $48 a barrel amid a reported decline in U.S. crude stockpiles as the International Energy Agency said the market needs time to drain a global inventory glut. Continue Reading
There’s nothing shocking in the steady build of crude oil inventory levels and those waiting for the market to balance out should be patient, the IEA said. The Organization of Continue Reading
Having expanded by 1.6 mb/d in 2016, global oil product demand growth is expected to ease back to 1.4 mb/d in 2017. Early indicators of 1Q17 demand support this, with slowdowns seen in Continue Reading
OPEC’s relentless output increase before their November deal to curtail supply has led to the first global stocks increase in six months, the International Energy Agency (IEA) said on Wednesday, Continue Reading
Global oil inventories rose for the first time in six months in January, despite OPEC’s production cuts, but if the group maintains its output limits, the market may tilt into Continue Reading
Oil prices traded sideways in a quiet market as traders digest the news coming from Houston where the world’s opinion leaders in oil & gas have gathered for this year’s Continue Reading
The recent drop in oil industry investment brought on by weak prices threatens to significantly slow supply growth in the long term, and could lead to a shortage when it Continue Reading
Three years of drastic cuts to upstream spending because of the meltdown in oil prices could result in a shortage of oil supply in a few years, according to a Continue Reading
Oil companies are reviving investment after a two-year rout as OPEC output cuts boost prices, easing but not eliminating the risk of a future supply crunch, the International Energy Agency Continue Reading
