(Oil Price) – After two years of playing the role of OPEC+ model citizen, Saudi Arabia has decided it’s time to loosen the tie—at least according to the IEA. According to the International Energy Agency, the Kingdom overshot its June production quota by a whopping 700,000 barrels per day, pumping 9.8 million bpd—the highest in two years. OPEC’s official production figures
(Investing) – VIENNA -The world oil market may be tighter than it appears despite a supply and demand balance pointing to a surplus, the International Energy Agency said on Friday, as refineries ramp up processing to meet summer travel demand. The IEA, which advises industrialised countries, expects global supply to rise by 2.1 million barrels per day this year, up 300,000
(Oil Price) – Energy investments this year are set to hit $3.3 trillion on the back of a strong increase in spending on things such as wind and solar, the International Energy Agency has forecast. In its latest World Energy Investment report, the agency also said that China will cement its position as the top energy investor globally this year. The IEA noted
(Oil Price) – Economic headwinds and record electric vehicle sales are set to materially slow down global oil demand growth for the rest of the year, the International Energy Agency (IEA) said on Thursday. World oil demand rose by 990,000 barrels per day (bpd) in the first quarter of 2025. But the remainder of the year will see demand growth at
(Oil Price) – Global oil supply is set to rise by 1.2 million barrels per day (bpd) this year, lower by 260,000 bpd than the growth expected last month, the International Energy Agency (IEA) said on Tuesday, citing lower-than-forecast production from the United States and Venezuela. The U.S.-China trade war escalation and the tariffs on imports into the U.S. have sent
(Oil Price) – Surging power demand in both developed and emerging economies accelerated global energy demand growth in 2024 to nearly twice the pace of recent years, the International Energy Agency (IEA) said on Monday. Record-high temperatures, higher demand from industry and for electrification, and AI and data centers contributed to a 4.3% rise in global power consumption last year, the IEA said
(Oil Price) – The International Energy Agency just threw a bucket of ice water on oil bulls, reporting that crude supply is outpacing demand by 600,000 bpd and slashing its demand outlook for the year. And the IEA isn’t alone. The world’s biggest oil traders are also sounding the alarm, turning bearish as overproduction ramps up both inside and outside OPEC.
(Oil Price) – The world needs upstream investments in existing oil and gas fields to support global energy security, Fatih Birol, the executive director of the International Energy Agency (IEA), said at the CERAWeek by S&P Global conference in Houston. The IEA famously said in 2021 that no investments in new oil and gas fields are needed if the world has a chance
(Oil Price) – Crude oil demand will remain at current levels over the next 15 years at least, commodity trading major Vitol has forecast, shattering earlier predictions from outlets such as the International Energy Agency that has consistently been predicting peak oil demand growth before 2030. Demand for crude is set to rise further in the coming years, to peak at
(Investing) – WASHINGTON – The International Energy Agency needs to revamp how it writes its annual energy outlook to reflect real-world scenarios, not to bolster its current focus on the global energy transition, according to a report released on Wednesday by the agency’s former oil director. The report named Energy Delusions was written by former IEA oil director Neil Atkinson for
(World Oil) – Technology giants are partnering with geothermal start-ups as they seek to power their energy-intensive data centers with clean but reliable power sources. Several deals have been struck over the past year as Big Tech is looking to boast low-emission profiles of its energy use. The other 24/7 low-carbon energy comes from nuclear power generation, and deals have been
(Oil Price) – Fracking techniques perfected in the U.S. shale patch could help drill for deeper and hotter geothermal energy resources and slash geothermal costs to make this low-carbon energy source competitive to other clean energy solutions, the International Energy Agency (IEA) said on Friday. Recent advances in horizontal drilling and hydraulic fracturing, “honed through oil and gas developments in North America,” are
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