Tag Archives: Fatih Birol

Venezuela’s crude production could soon sink to below 1 million bpd.

The IEA reduced its forecast for growth in emerging-market demand next year.

Clean energy sources could also account for more than 40% of total generation in the global power mix by this date.

OPEC member Venezuela last year produced more than 2 million bpd.

In Asia. America’s closest allies Japan and South Korea have followed suit for now.

There is a great need for oil and gas nations to diversify their economy.

Producers have already done a lot to ensure the market is well supplied.

The IEA said it looked in particular at Iraq. Nigeria. Russia. Saudi Arabia. the United Arab Emirates and Venezuela.

There’s a strong challenge for the key producers to increase production and comfort the markets.

OPEC agreed in June to boost supply to make up for the expected disruption to Iranian exports.