The IEA expects global oil demand to recover slower than expected in early 2021. Global consumption is expected to stage a stronger comeback later in the year, the agency said. Lockdowns in countries around the world are weakening the pace of higher oil demand. Visit Business Insider’s homepage for more […]
The International Energy Agency said on Wednesday that global energy investment will fall by almost $US400 billion in 2020 compared to last year due to the coronavirus pandemic. Before the pandemic, the global energy investment was on track for 2% growth, but now it fall by 20%. IEA is also […]
Oil prices rose Thursday after a report from the International Energy Agency said there are signs of recovery in the commodity market. West Texas Intermediate crude gained 3.3% to $US26.09 a barrel at 8:00 a.m. in New York. Brent crude rose nearly 3% to $US30.03 a barrel at the same […]
Energy demand could plunge 6% this year, the largest in 70 years in percentage terms and the largest ever in absolute terms, according to a Thursday report from the International Energy Agency. The IEA’s forecast would be more than seven times larger than the impact of the 2008 financial crisis […]
The world might "drown" in oil this year...
Despite massive amounts of oil coming to market from everyone but the Middle East, oil prices are going nowhere and will probably remain elevated, the IEA says. In its latest report, titled, “The New Maths On Supply,” the Paris-based agency increased its global demand forecast by 90,000 barrels a day, […]
Blames Asia.
[credit provider=”AP”] Writing in the Financial Times, IEA executive director Marina van der Hoeven says that if President Obama refuses to raise restrictions on exporting crude and liquid natural gas, the country’s unprecedented oil boom will dry up.Here’s the situation: technically, American companies are not allowed to export those products, […]
The International Energy Agency (IEA) provides unrealistically high oil forecasts in its new 2012 World Energy Outlook (WEO). It claims, among other things, that the United States will become the world’s largest oil producer by 2020, and will become a net oil exporter by 2030.
This post is mainly an update based on World Oil Supplies as Reported in EIA’s most recent International Energy Statistics.
[credit provider=”ezioman via Flickr” url=”http://www.flickr.com/photos/ezioman/3034706336/”] The International Energy Agency released its monthly report today. Here’s what you should know: Balances for first‐half 2011 show demand continuing to run ahead of supply, if a little less rapidly than in 2H10. The absence of Libyan crude is still making an impact. OPEC […]
Once a year, the International Energy Agency (IEA) releases its World Energy Outlook (WEO), and it’s our tradition here at ChrisMartenson.com to review it. A lot of articles have already been written on the WEO 2010 report, and I don’t wish to tread an already well-worn path, but the subject […]
