Tag Archives: International Energy Agency (IEA)

India is set to launch its tenth bidding round for oil and gas blocks in August or September, the Directorate General of Hydrocarbons (DGH) has said. The latest round will include 25 blocks across 13 sedimentary basins, which are essential for exploration and production activities. The areas on offer range …

The International Energy Agency is looking to set up mechanisms to stabilize natural gas prices and facilitate the sale of excess supplies to countries in need as the protracted war in Ukraine continues to squeeze the global market. The LNG market is smaller than that for crude oil, with much …

The world is still off track to reach a key goal set at the COP28 climate summit last year—tripling renewables capacity by 2030, the International Energy Agency (IEA) said in a report on Tuesday. At the COP28 climate summit in Dubai at the end of 2023, nearly 200 countries made …

Crude oil prices began the week with a decline on signs of slowing fuel demand and yet more indications from the Fed that rate cuts are not coming soon. Brent was trading below $83 per barrel and West Texas Intermediate was a little above $78 a barrel earlier today after …

OPEC+ producers shouldn’t take actions that would push oil prices up and thus boost inflation when they meet next to decide on their oil production cuts, said Fatih Birol, executive director of the International Energy Agency. “It’s up to them to decide what they’re going to do, but at this …

The International Energy Agency has revised down its prediction for oil demand growth this year, due to lower-than-expected consumption and a decline in industrial activity in Organisation for Economic Co-operation and Development member countries. Demand for 2024 was adjusted lower to 1.2 million barrels per day, about 100,000 bpd lower …

The world will need nuclear power generation to reach its emission reduction and net-zero targets, according to Fatih Birol, the executive director of the International Energy Agency (IEA). “Without the support of nuclear power, we have no chance to reach our climate targets on time,” Birol said ahead of a …

Ever since the International Energy Agency switched from a pure-play information provider to an advocate of the energy transition, its forecasts about oil demand have shifted to increasingly reflect this advocacy. This has led to a growing divergence between the IEA’s and OPEC’s outlooks on the future of the commodity, …

The International Energy Agency (IEA) will open its first regional office in Singapore, which will work with countries in Southeast Asia and beyond to enhance energy security and accelerate clean energy transitions. The IEA Regional Cooperation Centre will be the agency’s first office outside of its Paris headquarters. It is …

Global oil markets should remain “comfortable” this year as new supplies satisfy demand and keep prices in check, according to the International Energy Agency. World consumption will increase by 1.2 million to 1.3 million barrels a day in 2024, a “significantly weaker” pace than last year as economic growth slows …