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
Drastic cuts in oil industry investment risk creating a shortfall in supply that by 2020 will expose the market to a surge in prices, the International Energy Agency has warned. Continue Reading
Global oil supply may struggle to match demand after 2020, when the pinch of a two-year decline in investment in new production could leave spare capacity at a 14-year low Continue Reading
Drastic cuts in oil industry investment risk creating a shortfall in supply that by 2020 will expose the market to a surge in prices, the International Energy Agency has warned. Continue Reading
Two anonymous OPEC sources say that eleven of the non-OPEC nations that are part of the oil output reduction deal struck at the end of November have only made 40 Continue Reading
A worker checks the valves at Al-Sheiba oil refinery in the southern Iraq city of Basra, January 26, 2016. REUTERS/Essam Al-Sudani/File Photo Global oil output plunged in January as OPEC Continue Reading
Supported by strong 4Q16 numbers,the estimate for global oil demand growth for 2016 was revised up for the third consecutive month to 1.6 mb/d. Although still forecast to decelerate in Continue Reading
Oil jumped as the International Energy Agency said OPEC had achieved record initial compliance of 90 percent with their cuts agreement, while demand grew faster than expected. Futures gained as Continue Reading
OPEC members have reached a record compliance of 90% with their agreed output cuts, the International Energy Agency said Friday. The Organization of the Petroleum Exporting Countries on Nov. 30 Continue Reading
The International Energy Agency (IEA) does not expects oil demand to peak any time soon due to rising consumption in developing economies, Director Fatih Birol said on Monday. Birol also Continue Reading
The International Energy Agency (IEA) does not expects oil demand to peak any time soon due to rising consumption in developing economies, Director Fatih Birol said on Monday. Birol also Continue Reading
The global demand outlook for 2016 has been raised following the release of robust preliminary 4Q16 numbers. Colder weather in northern Europe provided impetus as did rapid industrially-driven Asian growth. Global oil Continue Reading
Oil prices rose Thursday after the International Energy Agency’s monthly report suggested global oversupply is easing. The Paris-based IEA said production from the Organization of the Petroleum Exporting Countries was Continue Reading
U.S. shale oil production is set to rise next year following the rally in prices since OPEC’s Nov. 30 meeting in Vienna, according to the International Energy Agency, which had Continue Reading
Global oil markets will swing from surplus to deficit in the first half of 2017 as OPEC and other producers follow through on an agreement to cut supply, according to Continue Reading
Global oil supply rose 0.8 mb/d in October to 97.8 mb/d after producers in OPEC and non-OPEC opened the taps. World oil output was 0.8 mb/d above a year ago, Continue Reading
Fatih Birol Fatih Birol, the executive director of the International Energy Agency, expects oil’s fundamentals to regain balance soon, thanks to the output cut deal agreed by OPEC last week. Continue Reading
The balance of supply and demand in global oil markets may soon change as a result of OPEC’s decision to cut production, International Energy Agency chief Fatih Birol said on Continue Reading
Two days later on 18 November, Fatih Birol presented WEO-2016 at the Centre for Strategic and International Studies in Washington. On 21 November it was the turn of the Friends Continue Reading
An oil price surge triggered by a successful OPEC agreement to cut production could be snuffed out as supply surges back, according to the head of International Energy Agency. If Continue Reading
U.S. shale oil producers will increase their output if oil prices hit $60 a barrel, meaning OPEC will have to walk a fine line if it curtails production to prop Continue Reading
Oil Pumps If the oil industry’s upstream investments continue to be lower next year, there is a material risk that the world could end up with a shortage in new Continue Reading
Norwegian oil and gas company DNO said Wednesday it signed a memorandum of understanding to examine oil field development in Iran. DNO signed an agreement with the National Iranian Oil Continue Reading
The International Energy Agency expects global oil consumption to peak no sooner than 2040, leaving its long-term forecasts for supply and demand unchanged despite the 2015 Paris Climate Change Agreement Continue Reading
Carbon capture and storage likely the only real way to cut emissions from power plants, the International Energy Agency says. File photo by Stephen Shaver/UPI PARIS, Nov. 15 (UPI) — Continue Reading
Global oil demand won’t stop growing before 2040 despite pledges made at the Paris climate change summit last year to cap greenhouse-gas emissions, the head of the International Energy Agency Continue Reading
A worker at an oil field owned by Bashneft, Bashkortostan, Russia, January 28, 2015. The oil market risks running another surplus in 2017 without an output cut from OPEC, as Continue Reading
Oil prices moved lower in early Thursday trading after the IEA said there may be too many factors at play to continue betting on OPEC’s production offer. Crude prices moved Continue Reading
OPEC’s oil production rose to record highs in October and is expected to remain elevated this month, a top industry watchdog reported Thursday, highlighting the challenge the cartel will face Continue Reading
Oil prices fell Thursday after the International Energy Agency reported record production from Organization of the Petroleum Exporting Countries members and subdued expectations for demand growth. U.S. crude for December Continue Reading
Various OPEC members have been busy looking for ways to get all members of the cartel to agree to a production cut, but outside the spotlight, as it turns out, Continue Reading
Estimate rises 110,000 barrels a day to almost 500,000 a day Russian output is likely to lead the increase, agency says The International Energy Agency increased its estimate of oil Continue Reading
Should Opec fail to make output cuts and production from outside the cartel keeps rising, 2017 could be another year of “relentless” global supply growth, the International Energy Agency said Continue Reading
Permian oil rig Just as oil prices really started to pick up steam, the IEA had to spoil the party. The Paris-based energy agency said on Tuesday that the oil Continue Reading
Global oil supply rose by 0.6 mb/d in September, with non-OPEC up nearly 0.5 mb/d on higher Russian and Kazakh flows and OPEC at an all-time high.World oil output of Continue Reading
Global oil supply could fall into line more quickly with demand if OPEC and Russia agree to a steep enough cut in production, but it is unclear how rapidly this Continue Reading
Group’s output likely to hover near record highs until Nov. OPEC has ‘effectively abandoned its free market policy’ Oil supply and demand could come back into balance earlier than expected Continue Reading
Brent crude hit one-year high on Saudi-Russia oil pledge Prices should be determined by supply and demand: IEA’s Birol Crude prices of $60 a barrel would probably trigger a strong Continue Reading
A sharp slowdown in global oil demand growth, coupled with ballooning inventories and rising supply means the crude market will be oversupplied at least through the first six months of Continue Reading
A sharp slowdown in global oil demand growth, coupled with ballooning inventories and rising supply means the crude market will be oversupplied at least through the first six months of Continue Reading
Faltering Asian demand has weighed on consumption this quarter Market set for fourth year of surplus as Gulf OPEC pumps more The surplus in global oil markets will last for Continue Reading
