Tag Archives: International Energy Agency (IEA)

The EU is set to add 60 GW of solar photovoltaic (PV) and wind capacity this year, further reducing its reliance on fossil fuels and supplies from Russia, the International Energy Agency (IEA) said on Thursday. By 2024, the IEA expects wind and solar PV to make up more than …

Solar power has been touted as the cheapest available source of energy for several years now. Solar power proponents have been talking about the consistent decline in the cost of raw materials and panel production. They have also talked about LCOE. The levelized cost of energy is a metric that …

There will be no significant effect on oil prices from stricter enforcement of the price cap on Russian oil exports as supply will not change meaningfully. This is according to the International Energy Agency, which commented on a statement made by the G7 during their meeting this weekend. “Any significant …

Amidst an ongoing global shift towards greener forms of energy, the International Energy Agency (IEA) has predicted that global oil demand will rise more than previously anticipated, partly due to China’s economic rebound. World fuel consumption will increase by 2.2 million barrels a day in 2023 — about 200,000 a …

Around $600 billion spending is required this decade to achieve the cut in oil and gas emissions, according to a new IEA report. This is only a fraction of the record windfall income that oil and gas producers accrued in 2022. Many of the measures also generate additional income streams …

Oil prices are set to rise toward $90 per barrel by the end of this year, driven by Chinese demand and a tightening market following OPEC+’s latest production cuts, a Reuters survey of 40 analysts and economists showed on Friday. According to the experts, Brent Crude prices are expected to …

OPEC Secretary General Haitham Al Ghais said on Thursday that International Energy Agency (IEA) should be ‘very careful’ about discouraging oil investments, which is important for global economic growth. Al Ghais’s statements came in response to fresh criticism from IEA Executive Director Fatih Birol to OPEC+, indicating that finger-pointing and …

The Organisation of the Petroleum Exporting Countries (OPEC) has called on the International Energy Agency (IEA) not to further undermine the oil industry investments. OPEC Secretary-General, Haitham Al Ghais said this in a statement obtained while responding to the latest comments by the IEA again criticising OPEC and OPEC+. Al …

Global electric car sales are set to surge by 35 per cent this year, helped by government subsidies and the tightening of carbon dioxide emissions standards, the International Energy Agency has said. Electric car sales are projected to reach 14 million in 2023 from 10 million last year, the Paris-based …

The International Energy Agency (IEA) has said that the global oil market could see tightness in the second half of 2023, which would push oil prices higher. Executive Director of IEA, Fatih Birol, made the prediction as oil prices surged above $80 since the beginning of the month, after the …