Tag Archives: International Energy Agency (IEA)

Until three months ago, the oil industry was pinning its hopes on aviation, alongside petrochemicals, for continued growth in oil demand for at least another decade. The aviation industry, however, was dealt a near-deadly blow by the coronavirus pandemic, which upended all plans for fleet utilization for years to come. …

Some oil fields are set to suffer chaotic stoppages despite efforts by OPEC+ to mitigate the impact of coronavirus on global markets, the International Energy Agency warned. “Lockdown measures have caused unprecedented demand declines, whose speed and magnitude greatly exceed the normal market flexibility of supply,” the Paris-based IEA said …

The impact of Covid‑19 on energy demand in 2020 could be more than seven times larger than the impact of the 2008 financial crisis on global energy demand.

Global energy demand will plunge this year, with the Covid-19 pandemic representing the biggest shock to the global energy system in more than seven decades, a new report released by the International Energy Agency (IEA) says. The report says that the drop in demand this year is set to dwarf …

The need for increased energy efficiency and more use of renewables were the key takeaways from a roundtable hosted by the IEA and the German Government.

Energy ministers from some of the world’s largest economies on Friday linked for an unprecedented global summit over how to put renewables at the centre of post-coronavirus recovery plans – but the US and China were absent from the ‘cloudroom’. Danish climate & energy minister Dan Jørgensen claimed after the …

International Energy Agency Executive Director Fatih Birol said on Friday that governments should put renewable energy at the heart of economic rescue packages launched in response to the coronavirus outbreak to avoid a rebound in carbon emissions. “Putting clean energy at the heart of stimulus plans is an excellent strategy …

The International Energy Agency (IEA) has called for the OPEC-led group to take more production offline and faster than previously agreed. Following the carnage of negative WTI prices on April 20, and a growing realisation about pressure on storage, the energy watchdog’s head Fatih Birol set out 3 steps. The …

The International Energy Agency (IEA) said on Tuesday the OPEC+ should consider quicker, deeper production cuts to ease the turmoil in oil markets, Kallanish Energy reports. Executive director Fatih Birol said the initial 9.7 million barrels per day (Mmbpd) production cut in May and June “is a solid start but …

Global oil demand will fall by a record amount this year as lockdown measures imposed to curb the coronavirus outbreak bring the economy to a virtual halt, the International Energy Agency (IEA) said Wednesday, April 15. For 2020 overall, demand will fall by 9.3 million barrels per day (mbd), with …