Tag Archives: International Energy Agency (IEA)

Global Oil Consumption Crashed By 9% In 2020

Due to the coronavirus restrictions and lockdowns, global consumption of petroleum and other liquid fuels crashed by 9 percent to 92.2 million barrels per day (bpd) in 2020, the U.S. Energy Information Administration (EIA) said on Friday, nothing this was the largest drop in EIA’s series dating back to 1980. …

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India Takes Steps to Become Full Member of IEA

Preparatory to becoming a full member of the International Energy Agency (IEA), India has signed a “Framework for Strategic Partnership” with the IEA. India is currently an “Association Country” of the IEA, but it is seeking full membership of the Agency. The framework will “strengthen mutual trust and cooperation and …

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IEA Debuts Scenario for Net Zero Emissions in 2050

In its World Energy Outlook 2020, released in November 2020, the International Energy Agency (IEA) for the first time added a scenario in which the world’s energy sector would achieve net-zero emissions by 2050, as it underscored the importance of bringing the world’s carbon emissions under control. Compared to IEA’s …

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OPEC, IEA Lower Oil Demand Forecast for 2021

The Organisation of the Petroleum Exporting Countries (OPEC) has lowered its oil demand forecast for 2021 again, according to the latest version of the Monthly Oil Market Report released on Monday. OPEC now expects global oil demand to fall by 9.77 million barrels per day in 2020 to reach 89.99 …

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