Tag Archives: International Energy Agency (IEA)

Oil prices rose on Friday as investors fretted about worsening supply shortages for the remainder of the year. International benchmark crude Brent traded at $87.97 per barrel at 11.05 a.m. local time (0805 GMT), a 2.29% gain from the closing price of $86 a barrel in the previous trading session …

Climate action to reach net zero undermines investment in the oil sector and jeopardises global energy security, warned OPEC. General secretary Haitham al-Ghais took aim at forecasters predicting a drop-off in oil demand this decade, with the cartel engaged in a protracted war of words with the International Energy Agency …

The world would not need any new long lead-time conventional oil and gas projects or coal mines approved after 2023 as the surge in clean energy deployment could lead to peak fossil fuel demand this decade, the International Energy Agency (IEA) said in its updated Net Zero Roadmap on Tuesday. …

Brent crude futures held above $90 a barrel on Tuesday, while investors awaited macroeconomic data that could indicate whether interest rates will rise further in the U.S. and Europe and the repercussions that would have for oil demand. November Brent crude futures rose 28 cents to $90.92 a barrel at …

Oil prices eased in early Asian trade on Monday as economic concerns in China weighed on fuel demand outlook although Brent stayed perched above $90 a barrel, supported by tightening supplies after Saudi Arabia and Russia extended supply cuts. Brent crude fell 49 cents, or 0.5%, to $90.16 a barrel …

Despite lingering concerns about China’s economy, global oil demand hit a record high in June and could be on track for another record in August, the International Energy Agency (IEA) said in its latest monthly report. The cuts from OPEC+ and Saudi Arabia, coupled with expected continued strength in demand, …

China’s oil imports from Iran have been soaring in August so that the shipments are expected to reach 1.5 million barrels per day (bpd), the highest since 2013, Blomberg reported citing estimates from data intelligence firm Kpler. Based on the Kpler data, China shipped in 917,000 bpd of Iranian oil …

The International Energy Agency said Friday it had revised upwards its forecast for global oil demand growth in 2023 as demand is “scaling record highs”. World oil demand already hit a record 103 million barrels per day in June and August and “could see yet another peak”, the Paris-based IEA …

Russia’s crude oil and refined products exports remained steady at some 7.3 million barrels per day (bpd) in July, while higher oil prices and narrower price differentials for Russian crude pushed Moscow’s revenues higher compared to June, according to estimates by the International Energy Agency (IEA). Russian crude oil loadings …

For years, climate experts have been begging the world’s biggest economies to wean themselves off of fossil fuels. Instead, coal use is at an all time high, hitting a brand new record of 8.3 billion metric tons in 2022, up 3.3% from the prior year, according to figures from the …