Commercial oil stocks in industrialized economies have fallen to their lowest level in three years, the International Energy Agency said Wednesday, in the latest sign that the global supply glut Continue Reading
Oil prices higher than the current levels may not be good news for major oil producers in the medium and long term, as consumers will seek alternatives to refined oil Continue Reading
The International Energy Agency has long received criticism for its energy forecasts, which, as is typical with any long-term projections, often miss the mark. But a new report accuses the Continue Reading
Though renewable forms of energy outpaced all others, fossil fuels accounted for more than 70 percent of the global demand growth last year, the IEA said. The International Energy Agency Continue Reading
The International Energy Agency raised Thursday its estimate for global oil demand growth this year to 1.5 million b/d and forecast supply would undershoot demand from the second quarter, assuming Continue Reading
Chief of International Energy Agency (IEA) said Monday that China will continue to be a main driving force for the growth of global oil demand. Fatih Birol, executive director of Continue Reading
U.S. shale oil output is set to surge over the next five years stealing market share from OPEC producers and moving the country, once the world’s top oil importer, closer Continue Reading
The U.S. will overtake Russia to become the world’s largest oil producer by 2023, accounting for most of the global growth in petroleum supplies, a top industry monitor said Monday. Continue Reading
The U.S. will overtake Russia to become the world’s largest oil producer by 2023, accounting for most of the global growth in petroleum supplies, a top industry monitor said Monday. Continue Reading
The U.S. will overtake Russia to become the world’s largest oil producer by 2023, accounting for most of the global growth in petroleum supplies, a top industry monitor said Monday. Continue Reading
U.S. shale oil output is set to surge over the next five years stealing market share from OPEC producers and moving the country, once the world’s top oil importer, closer Continue Reading
By entering the “most important energy forum in the world,” Mexico is the newest, and first Latin American, country to join the IEA, its government announced. Mexico deposited its signature Continue Reading
The International Energy Agency revised higher its US oil production growth forecasts for 2018, stressing that rapidly expanding shale output is a major factor offsetting Opec-led supply cuts. The latest Continue Reading
What sector will account for the largest source of oil demand growth over the next two decades? Most people might assume transportation, with hundreds of millions of people in the Continue Reading
Global coal demand is on a clear decline and its share in the power mix is on pace to fall to the lowest level since record-keeping began, the IEA said Continue Reading
The global energy system is in a state of flux. Renewables are experiencing rapid deployment and steep pricefalls. A growing portion of global energy is provided by electricity. There’s a Continue Reading
The world’s consumers are not yet ready to say goodbye to the era of oil. The world’s consumers are not yet ready to say goodbye to the era of oil, Continue Reading
The IEA lowered its demand forecast by 50,000 bpd in 2017 and 190,000 bpd in 2018, raising concerns that the oil market is actually not as healthy as it seems. Continue Reading
Gains in oil production from countries outside of OPEC might be more than what’s expected for demand next year, the Paris-based International Energy Agency reported. File photo by Gary C. Continue Reading
Growth in US oil output until 2025 will be the strongest seen by any country in the history of crude markets, making it the “undisputed” leader among global producers, the Continue Reading
The oil market is exhibiting signs of having reached a “new normal,” according to the IEA, with the floor for oil prices jumping from $50 to $60 per barrel. But Continue Reading
Higher prices and relatively mild early winter temperatures contributed to a downward revision to our demand forecast. Growth has been revised down by 0.1 mb/d for both 2017 and 2018 and we now see Continue Reading
Southeast Asia’s growing deficit of fossil fuels including oil, natural gas and coal up to 2040 will dictate energy trends for the whole region, including trade flows, investments and policy Continue Reading
Southeast Asian demand for oil will keep growing until at least 2040 as emerging nations there rely on the fossil fuel to transport their rapidly growing populations, ship goods and Continue Reading
Despite multilateral efforts to balance the oil market with managed production cuts, the situation in general still favors the supply side, the IEA said. The Organization of Petroleum Exporting Countries Continue Reading
Lag in investment raises risk of tightened market: Atkinson IEA failed to foresee ‘technical ingenuity’ of U.S. shale A dearth of new investment in oil production is stoking a risk Continue Reading
The oil market has been awash in crude for more than three years, and OPEC has struggled to accelerate the rebalancing effort, but the world could be heading for a Continue Reading
Lag in investment raises risk of tightened market: Atkinson IEA failed to foresee ‘technical ingenuity’ of U.S. shale A dearth of new investment in oil production is stoking a risk Continue Reading
Global oil demand will climb this year by the most since 2015, the International Energy Agency said, amid stronger-than-expected consumption in Europe and the U.S. The IEA, which advises most Continue Reading
Despite the huge uncertainties related to the two massive hurricanes that hit the U.S., the global oil market looks tighter than it has in a long time, according to a Continue Reading
Global oil demand will climb this year by the most since 2015, the IEA says, amid stronger-than-expected consumption in Europe and the US. (Bloomberg) — Global oil demand will climb Continue Reading
The global oil surplus is beginning to shrink due to stronger-than-expected European and U.S. demand growth, as well as production declines in OPEC and non-OPEC countries, the International Energy Agency Continue Reading
The International Energy Agency said on Monday that there was no need for now to release fuel from emergency stockpiles to compensate for disruption caused by Hurricane Harvey because global Continue Reading
Global oil demand will grow more quickly than expected this year, helping to ease a glut despite rising crude production from North America and weak OPEC compliance with output cuts, Continue Reading
The rebalancing of global oil markets has become less certain, with OPEC production rising and little evidence that bloated stockpiles are shrinking as expected, the IEA says. (Bloomberg) — The Continue Reading
Global oil supply rose by 720 kb/d in June to 97.46 mb/d as producers opened the taps. Output stood 1.2 mb/d above a year ago with non-OPEC firmly back in growth mode. Non-OPEC production Continue Reading
The rebalancing of the oil market is taking too long, the International Energy Agency (IEA) said in its Oil Market Report on Thursday. Since the record net long position that Continue Reading
The dip in oil prices may be in part because of a loss in investor confidence and it’s starting to hit U.S. shale oil profits, the International Energy Agency said. Continue Reading
The IEA’s World Energy Investment 2017 report predicts a slight increase in oil and gas investment this year, rising by 3 percent. That comes after a plunge of 44 percent Continue Reading
Technological advances have led to declines in labor tied to oil and gas with only small impacts on production, the International Energy Agency said. A report from the IEA on Continue Reading
Global investments in oil and gas fields are likely to rebound modestly this year thanks to a sharp uptick in spending by U.S. shale producers, the International Energy Agency said Continue Reading
Improving the efficiency of road-freight transport is critical to reducing the growth in oil demand, carbon emissions and air pollution over the next decades, according to the International Energy Agency’s Continue Reading
Growth in oil supply next year is expected to outpace an anticipated pick-up in demand that will push global consumption above 100 million barrels per day (bpd) for the first Continue Reading
Market balance might be facing headwinds given strong production trends and high levels of oil in storage, the International Energy Agency said. File photo tlegend/Shutterstock. June 14 (UPI) — Pressure Continue Reading
Global oil consumption grew above the 10-year average rate for a second consecutive year in 2016. Global oil consumption grew above the 10-year average rate for a second consecutive year Continue Reading
Oil slumped again on Wednesday on a downbeat assessment from the IEA regarding the health of the oil market. After posting some relatively optimistic projections for the “rebalancing” process in Continue Reading
Oil demand should outpace supply in the second half of this year but excess inventories will persist well into 2018, dealing a blow to global crude producers enacting output cuts Continue Reading
Barely one tenth of renewable energy technology is ready to meet long-term climate change targets as governments have failed to adequately support large-scale deployment, a report by the International Energy Continue Reading
The global oil market is close to balance, after nearly three years of excess supply, as production cuts by top exporters offset a longer-term decline in demand in the richest Continue Reading
Global demand growth of 1.3 mb/d is forecast for 2017, a second consecutive annual decline and slightly below our prior forecast following weaker than expected 1Q17 demand. Subdued gains in Russia and Continue Reading
