The International Energy Agency (IEA) has raised its forecast for global oil supply in 2026 by 2.5 mln barrels per day (bpd) compared with its previous report, according to the organization’s latest report. As a result, global oil supply this year is expected to fall by 4 mln bpd to 102.2 mln bpd.
The ongoing military conflict in the Middle East led to an energy market shock and created the biggest energy crisis compared to all previous global energy crises combined, head of International Energy Agency (IEA) Fatih Birol said.
One of the consequences of the Middle East conflict and the crisis around the Strait of Hormuz could be a reshaping of the global energy map, head of the International Energy Agency (IEA) Fatih Birol said.
The International Energy Agency (IEA), International Monetary Fund (IMF) and World Bank said they will establish a coordination group to maximize their response to the energy and economic fallout from the war in the Middle East.
The recovery of oil supplies from the Persian Gulf may take at least six months, head of the International Energy Agency (IEA) Fatih Birol said.
The International Energy Agency's member countries could release more oil into the market from strategic stockpiles "as and if needed" after they agreed the largest-ever reserves release last week to offset shortages and a spike in prices, IEA executive director Fatih Birol said.
The Middle East conflict has triggered the largest oil supply disruption in global history, the International Energy Agency (IEA) said on Thursday.
Global oil production in April 2024 decreased by 200,000 barrels per day (bpd) to 102 mln bpd, according to the International Energy Agency (IEA). It …
Iran’s oil production increased by 50,000 barrels per day (bpd) in the first two months of 2024 to hit 3.2 million bpd, the International Energy Agency (IEA) reported. The IEA report said …
Russian oil-export revenues rose to a 10-month high in August, according to the International Energy Agency. Russia received $17.1 billion last month from overseas supplies of crude oil and petroleum products, $1.8 bln more than in …
Asia will for the first time use half of the world’s electricity by 2025, even as Africa continues to consume far less than its share of the global population, according to a new forecast released Wednesday by the International …
The world is witnessing the biggest energy crisis ever recorded in history, especially after Russia’s invasion of Ukraine, according to Fatih Birol, executive director of the International Energy Agency. Speaking at the World …
The last month has been a month of celebration in the European Union. Gas demand is down because of the unusually warm weather. As a result, prices are down, and the crisis, according to analysts, appears to be averted. The problem is that …
The world is on track to consume a record amount of coal this year as countries grapple with a global energy crisis. Global coal use is set to increase by 1.2% in 2022, a marginal increase from last year but enough …
EU countries had reduced Russian diesel imports by 50,000 bpd to 560,000 bpd by October
Even though many Western clients are proclaiming their intention to shun Russian barrels, the oil is still flowing from export channels
The global demand for oil will eventually start to decline in the long-term perspective under any scenario of de-carbonization of national economies, the International Energy Agency (IEA) said in its World Energy Outlook 2021, obtained by …
The International Energy Agency has called on Russia to supply more natural gas to Europe to help alleviate soaring energy prices, …
Oil steadies after hitting 2-yr high as demand hopes face supply growth
Oil demand is still set for a record fall in 2020, the International Energy Agency (IEA) said on Thursday, but it trimmed its forecast for the drop citing easing lockdown measures. Demand is expected to fall by 8.6 million barrels …
