Post Tagged with: "IEA"

Source: Fox Business

Stocks battle higher as coronavirus treatment shows promise

FOX Business


U.S. equity markets rallied Friday after a study found an experimental treatment reduced death in COVID-19 patients.

 

The Dow Jones Industrial Average rose as many as 201 points, or 0.78 percent, while the S&P 500 added 0.38 …

July 10, 2020 - 1:00 pm Capital Markets, Commodity Pricing, Finance
Source: Reuters

IEA raises 2020 oil demand forecast but warns COVID-19 clouds outlook

Reuters


LONDON – The International Energy Agency (IEA) bumped up its 2020 oil demand forecast on Friday but warned that the spread of COVID-19 posed a risk to the outlook.

The Paris-based IEA raised its forecast to 92.1 million barrels …

Source: Reuters

U.N. chief urges end to coal financing to spur clean energy shift

Reuters


LONDON – United Nations Secretary-General Antonio Guterres urged countries on Thursday to stop financing coal and pledge not to build new coal-fired power plants to enable a shift to clean energy.

He spoke at a virtual clean energy transition …

July 9, 2020 - 11:00 am China, Climate Change, Coal News, Energy News
Source: CNBC

Oil prices just had their best quarter in 30 years — what’s next?

CNBC


Oil prices registered their best quarterly performance in 30 years during the three months through to the end of June, staging a dramatic comeback after falling to record lows in April.

Brent crude futures skyrocketed more than 80% in …

Source: CNBC

IEA outlines $3 trillion green recovery plan for world leaders to help fix the global economy

CNBC


The International Energy Agency has laid out a $3 trillion green recovery plan, offering governments around the world a “once-in-a-lifetime” roadmap to sustainably rebuild their economies in the wake of the coronavirus pandemic.

The Sustainable Recovery report, published Thursday,

Source: Reuters

Iraq lowers oil exports, gets closer to OPEC+ target: sources

Reuters


LONDON – Iraq’s oil exports have fallen by 8% or 300,000 barrels per day (bpd) so far in June, according to shipping data and industry sources, suggesting OPEC’s second-largest producer is getting closer to meeting its pledge in an …

Source: CNBC

Oil falls below $40 on doubts early OPEC+ meeting will go ahead this week

CNBC


Oil prices erased gains on Wednesday, with Brent crude futures falling back below $40 a barrel, on doubts an early meeting of some of the world’s most powerful oil producers will go ahead as planned.

OPEC and non-OPEC allies,

Source: CNBC

IEA says the coronavirus crisis has set in motion the largest drop of global energy investment in history

CNBC


The International Energy Agency believes the coronavirus pandemic has paved the way for the largest decline of global energy investment in history, with spending set to plummet in every major sector this year.

In the group’s annual World Energy

Source: CNBC

A resurgence of coronavirus cases will have ‘major consequences’ for the oil market, IEA warns

CNBC


The International Energy Agency (IEA) said on Thursday that market forces had “demonstrated their power” on the supply side of the oil market in recent weeks, but concerns remain over the potential for a second wave of Covid-19 infections.

Source: CNBC

Oil jumps 18% in fifth day of gains on demand recovery and production cuts

CNBC


Oil prices surged on Tuesday as optimism around ongoing production cuts and a recovery in demand with the reopening of economies around the world pushed prices higher.

West Texas Intermediate, the U.S. benchmark, jumped 18.2%, or $3.72, to …

Source: CNBC

A massive renewable energy scheme in Australia has been recommended for environmental approval

CNBC


A vast renewable energy scheme has been recommended for environmental approval by Western Australia’s Environmental Protection Authority (EPA).

The Asian Renewable Energy Hub is a planned development in the East Pilbara area of Western Australia. Set to cover 6,500 …

Source: CNBC

Energy demand, hit by coronavirus crisis, is set to see record drop this year, IEA says

CNBC


The International Energy Agency said Thursday it expects global energy demand to plunge this year in what the Paris-based agency called the biggest drop since World War II.

With roughly 4.2 billion people around the world subject to some …

Source: Reuters

OPEC cuts oil demand view again as market faces ‘historic shock’

Reuters


LONDON – OPEC on Thursday again cut its forecast for 2020 global oil demand due to the “historic shock” delivered by the coronavirus outbreak, and said the reduction may not be the last.

The Organization of the Petroleum Exporting …

Source: CNBC

Coronavirus crisis will erase nearly a decade of oil demand growth this year, IEA says

CNBC


The International Energy Agency (IEA) said Wednesday that it expects the coronavirus crisis to erase almost a decade of oil demand growth in 2020, with countries around the world effectively having to shut down in response to the pandemic.

Source: Reuters

Oil falls 4% towards $28 on oversupply concerns

Reuters


LONDON – Oil fell by more than 4% towards $28 a barrel on Wednesday, pressured by reports of persistent oversupply and collapsing demand due to global coronavirus-related lockdowns and a lack of coordinated oil purchases for strategic storage.

The …

Source: Reuters

Deep oil output cuts won’t offset unprecedented demand loss: IEA

Reuters


LONDON  – Deep output cuts by OPEC and other oil producing nations will not prevent a huge build up of crude, the head of the IEA said on Friday, urging the world’s richest economies to discuss broader ways to …

Source: Reuters

Oil demand set for first contraction since 2009 due to coronavirus: IEA

Reuters


LONDON – Global oil demand is set to contract in 2020 for the first time in more than a decade as global economic activity stalls due to the coronavirus, the International Energy Agency said on Monday.

The downward revision …

Source: Houston Chronicle

IEA plans to revise down oil demand forecasts due to virus

Houston Chronicle


The International Energy Agency plans to revise down its oil-demand forecasts next week because of the spreading coronavirus.

“I am going to announce it Monday morning in Paris,” IEA chief Fatih Birol told a Congressional hearing in Washington …

Source: Houston Chronicle

Oil rally continues as virus fears show signs of easing

Houston Chronicle


Oil gained for a fourth session, the longest rising streak this year, amid signs that the worst impacts of the coronavirus outbreak may be easing.

Chinese refiners have used oil’s earlier drop to snap up cheap cargoes, taking …

Source: CNBC

Global oil demand set to see first quarterly decline in over 10 years, IEA says

CNBC


Global oil demand is now expected to see its first quarterly contraction in over a decade, according to the International Energy Agency (IEA), as the new coronavirus and widespread shutdown of China’s economy hits demand for crude.

Demand is …

Source: CNBC

Global oil demand to peak around 2040 or ‘much sooner,’ IMF says

CNBC


Global oil demand will peak around 2040 – or “much sooner” – the International Monetary Fund (IMF) said in a new report on the future of oil.

The IMF said that this could have a “significant” impact on oil-exporting

Source: Reuters

Oil slides 2% as surplus forecast overshadows Libya disruption

Reuters


NEW YORK (Reuters) – Oil prices fell more than 2% on Wednesday as a market surplus forecast by the International Energy Agency (IEA) and demand worries outweighed concern over disruptions to Libya’s crude output.

Brent crude LCOc1 was down …

Source: Reuters

Oil steadies as Chinese economy offsets trade optimism

Reuters


NEW YORK – Oil prices steadied on Friday as sluggish economic growth in China, the world’s biggest crude importer, raised concerns over fuel demand and countered optimism from the signing of a China-U.S. trade deal.

Brent crude LCOc1 futures …

January 17, 2020 - 3:00 pm China, Closing Bell Story‎, Commodity Pricing, Energy News, Finance
Source: Houston Chronicle

Oil has nearly made back week’s losses

Houston Chronicle


Oil erased most of its loss for the week, as the price gain after the signing of the U.S.-China trade agreement offset signs that supplies remain plentiful.

 

The phase-one deal committed Beijing to $52.4 billion in additional …

Source: CNBC

‘Big uncertainty’ over US oil output in 2020 will be critically important to oil prices, analysts say

CNBC


The question of how much crude U.S. producers may be able to add this year could be pivotal for oil prices in 2020, analysts told CNBC, while warning of the potential for “vicious corrections” in the coming months.

Speaking …

Solar expected to lead renewable development in next five years: study

Solar expected to lead renewable development in next five years: study

Source: Houston Chronicle


Global capacity of renewable power is expected to grow by 50 percent in the next five years, reflecting a surge in new solar energy systems on  commercial buildings, industrial sites and homes.

The Paris-based International Energy Agency …

Oil Steadies as Saudi, Kuwait Signals Offset Demand Fears

Oil Steadies as Saudi, Kuwait Signals Offset Demand Fears

From Reuters


Oil prices were little changed on Monday as expectations that major producers would continue to reduce global supplies ran into worries about sluggish growth in crude demand due to the U.S.-China trade war.

International benchmark Brent crude settled …

Oil Rises on European Stock Draw Despite Demand Slowdown Forecast

Oil Rises on European Stock Draw Despite Demand Slowdown Forecast

From Reuters


Oil prices rose more than $1 a barrel on Friday, supported by a drop in European inventories and OPEC output cuts despite the International Energy Agency reporting demand growth at its lowest since the financial crisis of 2008.…

BP to Enter India’s Fuel Retail Market with Reliance Tie-Up

BP to Enter India’s Fuel Retail Market with Reliance Tie-Up

From Reuters


Global oil major BP is deepening its ties with Indian conglomerate Reliance Industries by forging a fuel retailing joint venture to capitalize on rising demand in Asia’s third-biggest economy.

The move comes days after BP said it would …

Gas is Part of the Solution in the Planet’s Energy Transition, Goldman Sachs Strategist Says

Gas is Part of the Solution in the Planet’s Energy Transition, Goldman Sachs Strategist Says

From CNBC


Gas has an important role to play in the global energy transition, according to the head of EMEA natural resources research at Goldman Sachs.

Speaking to CNBC Friday, Michele Della Vigna said that, in his personal view, gas …