The global oil demand which is 100 million barrels per day (bpd) could fall by 20 million bpd as 3 billion people in the world are under lockdown due to coronavirus pandemic, said the executive director of International Energy Agency on late Thursday. During a virtual fireside chat — titled …
Read More »Global Oil Demand Could Drop 20% as 3 Billion People in Lockdown
Global oil demand could dive by 20% as 3 billion people are in a lockdown because of the coronavirus outbreak, the head of the International Energy Agency (IEA) said March 26 as he called on OPEC leader Saudi Arabia to help stabilize oil markets. “Today, 3 billion people in the …
Read More »Japan Launches Its First Large-Scale Offshore Wind Farm
Moves to unlock the full potential of Japan’s offshore wind industry are underway with the announcement of a task force set up to accelerate the sector’s development. Ambitions are to see the country’s renewables share increase from 16 percent to 24 percent by 2030 through a mixture of methods – …
Read More »Europe Warned about Virus Impact on Clean Tech
Governments across Europe should keep clean energy top of mind as they consider measures to protect their economies against a likely recession caused by the coronavirus, the International Energy Agency (IEA) has said. The European Commission is paying close attention to the economic impact of the coronavirus, saying border shutdowns …
Read More »China’s Oil Demand Could Rise Sooner Than Expected
Crude oil imports into the world’s top oil importer and key growth driver would be weaker in March than in February.
Read More »Hydrogen. The Cleaner. Greener Fuel for Future
The rise and ever-declining costs of wind and solar have given hydrogen a new lift.
Read More »Coronavirus will Hit Oil Hard
The Covid-19 virus will reduce China'.s first-quarter oil demand by just 160.000 barrels a day from last month'.s estimate.
Read More »OPEC Underestimates China Virus
China’s own oil consumption is down sharply as factories stay closed and travel restrictions remain in place.
Read More »IEA works on Global Roadmap to Cut Emissions by 2030
The IEA is set to host a clean energy transition event in Paris on July 9.
Read More »Is Shale Oil Surge Shifting Global Oil Market Balance?
The surge in US crude oil production coupled with lower oil demand globally gave way to oversupply in an already bearish market.
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