Oil: Big 3 forecasters are not reliable
So if there is no information about all the oil in the world, how much faith should one put in global inventory estimates
EIA
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EIA projects nearly 50% increase in world energy usage by 2050
This increase is largely driven by non-OECD countries, where transportation energy consumption increases nearly 80% between 2018 and 2050
Oil prices decline on concerns over recession and inventories
Oil prices fell on this morning, adding to sharp overnight losses as U.S. crude inventories unexpectedly rose, fears of recession mounted and economic data out of China and Europe disappointed. Brent crude was down 37 cents (0.6%) …
IEA does not expect 'huge increase' in crude prices
The International Energy Agency (IEA) doesn’t expect oil prices to rise significantly because demand is slowing and there is a glut in global crude markets, its executive director Fatih Birol said Electric …
IEA: oil output from OPEC falls in May
Oil output from OPEC fell in May by 230,000 barrels per day to 29.95 million bpd, hitting a five-year low, according to data from the International Energy Agency (IEA). In May, top OPEC producer Saudi Arabia’s output fell by …
Is The Oil Glut Coming Back?
The plunge in prices have renewed concerns about the global economy, oil demand and a stubborn crude oil surplus
Oil demand growth may be slowed by prices above $70
Oil prices at $70 per barrel and higher increase the risk of slowing demand growth against the backdrop of uncertainties in global economy, International Energy Agency said in its Oil Market Report. "Oil prices at …
What’s Keeping Oil From Rallying?
The fundamentals of supply and demand in the oil market appear to be heading in a bullish direction
EIA: US oil export may outstrip Russia by 2024
The U.S. will become a net oil and oil product exporter in 2021, and will export more oil than Russia by 2024, the International Energy Agency (IEA) said in its new Oil 2019 report. In 2018, the combined production of liquid …
U.S. Energy Information Administration revises 2019, 2020 oil production forecast
The U.S. Energy Information Administration said it expects the United States to pump 12.4 million barrels of crude a day in 2019 and 13.2 million barrels a day in 2020. The January average was 12 million barrels a day, up 90,000 from …
US and RF to severely compete on oil and gas markets
The United States becomes a net energy exporter in 2020
Venezuela crisis puts oil market in panic mode
Oil rose today, shaking off persistent concern about the outlook for demand after the U.S. government said it could impose sanctions on OPEC member Venezuela's crude exports. Brent crude futures were up 10 cents at $61.24 a barrel …
IEA: U.S. shale oil growth underestimated
Shale oil's impact will have "huge implications" for global energy markets for many years, executive director at the International Energy Agency Fatih Birol said at the World Economic Forum in Davos, …
U.S. may challenge oil market share of Russia and Saudi Arabia
The U.S. crude output could soon challenge the market share of Saudi Arabia and Russia, the International Energy Agency (IEA) said. "While the other two giants voluntarily cut output, the U.S., already the biggest liquids …
EIA expects anti-Iran oil sanctions to be prolonged
The U.S. Energy Information Administration (EIA) forecasts the U.S. oil sanctions imposed on Ian will remain in place until 2020. "EIA assumes that US sanctions on Iranian oil exports will remain in place through the end of the …
Brent oil exceeds $67
Oil prices rose today as expectations that the OPEC would start cutting supply overshadowed a big crude stock build last week. WTI Futures for December delivery traded 0.6% higher to $56.77 per barrel at 1:08 AM ET (05:08 GMT) on the …
Oil price to reach $137 in 2040?
The International Energy Agency (IEA) has improved its forecast for oil price by 6% to $88 per barrel in 2025 and by 0.9% to $112 per barrel in 2040, according to IEA’s World Energy Outlook 2018 report. According to the New …
IEA executive director to visit Baku in autumn
Executive director of the International Energy Agency (IEA) Fatih Birol will visit Baku in September, Azerbaijan’s Energy Ministry said. The information was announced at the meeting of Azerbaijani energy …
IEA: OPEC+ may accomplish its mission in May
OPEC and its allies appear to have accomplished their mission of bringing global oil stocks to desired levels as early as in May, the International Energy Agency said in its monthly report . "It is not for us to …
EIA hikes Brent price outlook
US Energy Information Administration (EIA) has raised its forecast on crude oil prices for 2018 and 2019, along with revising upwards its estimates on US crude production for both years. According to the agency's short-term energy …
