Tag Archives: International Energy Agency (IEA)

Amid growing ‘crude’ concerns, the Organisation of Petroleum Exporting Countries and its allies (OPEC+) are preferring to keep their cards to the chest. After their virtual meeting last Thursday, the Saudi energy minister Prince Abdulaziz bin Salman underlined, ‘OPEC+ would take a pro-active and pre-emptive stance in addressing oil market …

The B20 – which represents the global business community within the Group of 20 (G20) countries – and the International Energy Agency (IEA) have called on political and industry leaders in the global forum to seize the “unique opportunity” presented by the coronavirus pandemic to put in place policies that …

The outlook for global oil markets has grown “even more fragile” as a resurgent pandemic derails the recovery in demand, the International Energy Agency said. The IEA, which advises major economies, trimmed forecasts for fuel consumption for the rest of the year and predicted that oil inventories – which rebounded …

The International Energy Agency (IEA) trimmed its 2020 oil demand forecast on Sept. 15, citing caution about the pace of economic recovery from the pandemic. The Paris-based IEA cut its 2020 outlook by 200,000 barrels per day (bbl/d) to 91.7 million bbl/d in its second downgrade in as many months. …

Global oil demand may have already peaked, according to BP’s latest long-term energy outlook, as the COVID-19 pandemic kicks the world economy onto a weaker growth trajectory and accelerates the shift to cleaner fuels. Demand for oil will be the biggest casualty over lower energy demand in the coming three …

The global economy is likely not headed for any major slowdown due to COVID-19 but piled-up storage and uncertainty over China’s oil demand cloud oil markets’ recovery, an official with International Energy Agency (IEA) said. Keisuke Sadamori, IEA director for energy markets and security, told Reuters the outlook for oil …

China continues to be the world’s largest producer of renewable power from wind as well as solar photovoltaics, according to the International Energy Agency’s Key World Energy Statistics report, released on Thursday. The country accounts for 28.7% of global wind production, supplied by an installed capacity of 184GW, and 31.9% …

The International Energy Agency lowered its global oil demand forecasts for the first time in several months on Thursday, as the number of Covid-19 infections remains high and amid ongoing weakness in the aviation sector, reports CNBC. In a closely-watched monthly report, the IEA said it now sees global oil …

Renewable energy has surged to capture a record share of global electricity generation, seizing more market share during the coronavirus downturn. The steep drop in electricity demand, down by more than a fifth in some parts of the world, has hit energy producers everywhere. But because renewable energy has zero …

Oil prices eased on Thursday after OPEC and allies such as Russia agreed to taper record supply curbs from August, though the drop was cushioned by hopes for a swift U.S. demand pick-up after a big drawdown from the country’s crude stocks. Brent crude LCOc1 fell 27 cents, or 0.6%, …