IEA forecasts 11 mln bpd oil demand decline in 2026
The International Energy Agency (IEA) expects global oil demand to decline by 1.1 mln barrels per day (bpd) in 2026 amid the conflict in the Middle East, according to the agency's latest report.
IEA
IEA expects global oil supply to decline in 2026
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.
Over 80 power facilities damaged in Iran due to war - IEA
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.
Iran conflict may reshape global energy map - IEA
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.
IEA, IMF, World Bank to coordinate response to Iran war impacts
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.
At least six months needed to restore oil supplies from Gulf - report
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.
IEA could release more oil stocks
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.
Oil market experiencing largest supply disruption in global history - IEA
The Middle East conflict has triggered the largest oil supply disruption in global history, the International Energy Agency (IEA) said on Thursday.
IEA: global oil production drops
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 increases oil production
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 …
Russia cashes in on reducing oil exports
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 …
IEA: Asia set to use half of world's electricity by 2025
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 …
IEA chief: world witnessing biggest energy crisis in history
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 …
Europe’s warm winter may not be such good news for energy
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 …
Coal consumption set to reach record high in 2022
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 …
Europe races to stock up on Russian diesel ahead of embargo
EU countries had reduced Russian diesel imports by 50,000 bpd to 560,000 bpd by October
Russian oil sales suffer minimal interruption so far
Even though many Western clients are proclaiming their intention to shun Russian barrels, the oil is still flowing from export channels
IEA: oil consumption to reach its peak after 2025
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 …
Russia urged to pump more gas to Europe as energy prices soar
The International Energy Agency has called on Russia to supply more natural gas to Europe to help alleviate soaring energy prices, …
IEA: global demand to return to pre-pandemic levels at the end of 2022
Oil steadies after hitting 2-yr high as demand hopes face supply growth
