The global oil market is tightening due to sharp production falls in Saudi Arabia and Venezuela, the International Energy Agency said Thursday, but cautioned there are still “mixed signals” over Continue Reading
The world’s top energy body has come under fire from leading investors and scientists who say that its energy forecasts are not in line with the latest climate science, and Continue Reading
Production outages and Iran and Venezuela will tip the global oil market into a shortage during the second quarter, the International Energy Agency said in the new edition of its Continue Reading
Global oil demand growth slowed sharply in 4Q18 to 0.95 mb/d due to lower OECD demand, which declined by 0.3 mb/d year-on-year. Large falls were seen in Europe and Asia and there was slower Continue Reading
Crude oil production capacity in Iran and Venezuela will fall by a combined 1.76 million b/d if US sanctions on these countries remain in place, the International Energy Agency said Continue Reading
Quality matters, not quantity. That was the message from the International Energy Agency (IEA) in its latest Oil Market Report. The world has plenty of oil, but perhaps not the Continue Reading
Global oil demand remains on course to be stronger this year than in 2018 as a boost from lower fuel prices counters slowing economic activity, according to the International Energy Continue Reading
This year has been a crazy ride for the oil industry, which saw the price of Brent crude seesaw from $66.87 on the first day of the year, to a Continue Reading
You know the old adage, it takes two to tango. In the global oil market, this means the dance between supply and demand. As analysts and commentators analyzed the recent Continue Reading
U.S. oil production will continue to grow at a rapid pace until 2025, while Venezuela’s crude output is set for further declines, Fatih Birol, the Executive Director of the International Continue Reading
The global oil market could move into deficit sooner than expected thanks to OPEC’s output agreement with Russia and to Canada’s decision to cut supply, the International Energy Agency said Continue Reading
Oil supply cuts by key producers could have negative implications for markets, the head of the International Energy Agency said on Monday, appealing to market players to use “common sense”. Continue Reading
While OPEC is considering cutting oil production again, the executive director of the International Energy Agency (IEA), Fatih Birol, called on Monday for ‘common sense’ because fresh cuts could have Continue Reading
The International Energy Agency published its World Energy Outlook this week, its annual effort at revising assessments of future demand for and supply of fuels and electricity. 1 There’s a Continue Reading
Major oil producers like Saudi Arabia and Russia need to sustain strong production levels in order to offset supply risks, the International Energy Agency’s executive director Fatih Birol said Tuesday, Continue Reading
A changing energy system is posing “critical questions” for many of the world’s largest oil and gas producing countries, the International Energy Agency (IEA) says. The rise of shale gas Continue Reading
A changing energy system is posing “critical questions” for many of the world’s largest oil and gas producing countries, the International Energy Agency (IEA) says. The rise of shale gas Continue Reading
High oil prices are hurting consumers and could also have adverse implications for producers, the executive director of the International Energy Agency (IEA) said on Tuesday. Major emerging Asian economies Continue Reading
In disconcerting news for major oil producing countries, particularly production heavyweights Saudi Arabia and Russia, the Paris-based International Energy Agency (IEA) said on Thursday that the world’s largest oil producing Continue Reading
The demand revisions come as oil prices surged to four-year highs in early October, with Brent crude—the global benchmark—temporarily breaching the $85-a-barrel threshold. Prices have been bolstered by declining Iranian Continue Reading
Expensive energy is back and it is threatening global economic growth, the International Energy Agency (IEA) said in its Oil Market Report on Friday, joining other organizations like the International Continue Reading
The International Energy Agency Friday cut its estimates of global oil demand growth this year and next by 100,000 b/d each, while raising its estimate of this year’s growth in Continue Reading
Oil markets look “adequately supplied for now” after a big production increase in the last six months, but the industry is coming under strain, the West’s energy watchdog said on Continue Reading
The demand revisions come as oil prices surged to four-year highs in early October, with Brent crude—the global benchmark—temporarily breaching the $85-a-barrel threshold. Prices have been bolstered by declining Iranian Continue Reading
Highlights (12 October 2018) The forecast for demand growth in 2018 and 2019 has been reduced for both years by 110 kb/d to 1.3 mb/d and 1.4 mb/d, respectively. This is due to a weaker economic outlook, Continue Reading
The head of International Energy Agency warned Tuesday that oil prices are set to enter the “red zone” during the fourth quarter of 2018, threatening to hit demand growth as Continue Reading
Rising oil prices are hurting consumers, Fatih Birol, the Executive Director of the International Energy Agency (IEA), says, calling on major all producers to do the best they can to Continue Reading
Plastics and other petrochemical products will drive global oil demand to 2050, offsetting slower consumption of motor fuel, the International Energy Agency (IEA) said on Friday. Despite government efforts to Continue Reading
Rising oil prices are hurting consumers, Fatih Birol, the Executive Director of the International Energy Agency (IEA), says, calling on major all producers to do the best they can to Continue Reading
Petrochemicals—components derived from oil and gas that are used in all sorts of daily products such as plastics, fertilizers, packaging, clothing, digital devices, medical equipment, detergents and tires—are becoming the Continue Reading
The International Energy Agency warned Thursday the oil market is entering a “very crucial period” due to uncertainties over Libya and Venezuela and Iranian sanctions,and said demand in non-OECD countries Continue Reading
Global oil demand growth estimates for 2018 and 2019 are unchanged at 1.4 mb/d and 1.5 mb/d, respectively. The pace of growth slowed sharply in 2Q18, caused by weaker OECD Europe and Asia demand. US Continue Reading
Singapore — The International Energy Agency on Friday raised its estimate of world oil demand growth next year to 1.5 million b/d from 1.4 million b/d, anticipating the impact of Continue Reading
Following strong demand growth in 1Q18, in 2Q18 and 3Q18 the pace has slowed dramatically to a relatively subdued 1 mb/d. In 4Q18 we expect a rebound and demand will be 100.2 mb/d. For 2018, Continue Reading
Oil markets have entered a brief period of calm but a storm might be looming later this year when new U.S. sanctions are poised to slash supplies of Iranian oil, Continue Reading
Global energy investment fell by 2 percent in 2017, the third consecutive year of a decline, according to the International Energy Agency, which sounded the alarm this week , warning Continue Reading
China is the largest destination for energy sector investments, but there are concerning trends of a global slowdown, the International Energy Agency said. The IEA in its world energy investment Continue Reading
The world’s oil supply cushion could be stretched to the limit due to prolonged outages, supporting prices and threatening demand growth, the International Energy Agency said on Thursday. The expected Continue Reading
The world’s oil supply cushion could be stretched to the limit due to prolonged outages, supporting prices and threatening demand growth, the International Energy Agency said on Thursday. The expected Continue Reading
The International Energy Agency warned on Thursday that spare oil production capacity risks being “stretched to the limit” as supply disruptions and US sanctions against Iran tighten the market. The Continue Reading
Demand got off to a strong start this year with global 1Q18 growth at over 2 mb/d, helped by cold weather in the northern hemisphere. Recent data, however, point to a slowdown, with Continue Reading
Since our last report, OPEC oil ministers and ten non-OPEC oil ministers have met and agreed to achieve 100% compliance with the Vienna Agreement (i.e. they will increase production). What this means Continue Reading
Oil supply disruptions, from extraordinary events or otherwise, are not in the best interest of consumers or producers, the International Energy Agency said. The Organization of Petroleum Exporting Countries in Continue Reading
The IEA said that the run up in oil prices in the last few months dampened oil demand growth, although the agency left its forecast for oil demand growth unchanged Continue Reading
Oil demand will grow steadily in 2019 thanks to a solid global economy, but the world may face a large supply gap by late next year if OPEC cannot cover Continue Reading
The world’s appetite for oil should remain robust throughout next year even as U.S. production continues to dominate supply growth, the International Energy Agency said Wednesday. In its closely watched monthly Continue Reading
Our demand growth estimate for 2018 has been left largely unchanged, at 1.4 mb/d. Recent data confirms strong growth in 1Q18 and in early 2Q18, partly due to colder weather in the northern Continue Reading
The International Energy Agency on Wednesday said a “finely balanced” market would become vulnerable to disruption and OPEC swing producers and others would need to boost their production, even as Continue Reading
The International Energy Agency (IEA) is ready to act if “necessary to ensure that markets remain well supplied,” the IEA’s Director for Energy Markets and Security, Keisuke Sadamori, told S&P Continue Reading
The IEA has cut oil demand forecasts as the recent growth in oil prices continues. The agency expects demand to fall in response to high prices, but there are a Continue Reading
