Post Tagged with: "IEA"

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 …

Source: Sweetcrudereport.com

Global Economic Slowdown Reducing Oil Demand

By Tyler Losier, Energy Reporter, Oil & Gas 360

Supply deficit quickly flipped to surplus: International Energy Agency data now shows 500,000 barrel per day global surplus for Q2 2019
Despite the OPEC+ supply cuts agreed upon earlier this month,

OPEC to Be Squeezed by U.S. Shale Until Mid-2020s, IEA Says

OPEC to Be Squeezed by U.S. Shale Until Mid-2020s, IEA Says

From Bloomberg

OPEC’s loss of market power to what was once its biggest customer will continue until the middle of the next decade as U.S. shale oil thrives.

By 2024, the Organization of Petroleum Exporting Countries’ capacity to pump crude …

March 11, 2019 - 12:55 pm Closing Bell Story‎, Crude Oil News, Energy News, OPEC
The Oil & Gas Story in 2018 was Written by Strong Oil Prices

The Oil & Gas Story in 2018 was Written by Strong Oil Prices

Oil prices above breakeven for three quarters of the year positive for drillers

On the whole, 2018 produced good news for U.S. oil and gas companies, at least through the first three quarters of the year. Prices were above …

$2 Trillion Annual Investment in New Supply is Needed to Meet Energy Demand to 2040: IEA

$2 Trillion Annual Investment in New Supply is Needed to Meet Energy Demand to 2040: IEA

Worldwide, government policy decisions will be prime determinant of world’s energy direction
In a new report, the International Energy Agency outlines new scenarios regarding fuels use and supply and demand, saying government policy decisions will determine what happens in the

Source: Arabian Oil and Gas

New IEA Report Outlines What is Coming to MENA Producer Countries

What do you do with a one-trick-pony oil economy that is hiring about 5,000 oil workers, but you have 83 million people under 30 to find jobs for?
Any nation's leadership that has been lulled to sleep by decades of

October 25, 2018 - 5:04 pm Closing Bell Story‎, Oil and Gas 360 Articles, OPEC
Oil Market, Prices Have Entered the ‘Red Zone’:  IEA Begs OPEC to Open the Taps

Oil Market, Prices Have Entered the ‘Red Zone’: IEA Begs OPEC to Open the Taps

Venezuelan output is in free-fall and Iran’s production is sinking: IEA’s Birol says expensive energy is back and its inflicting damage on global economy

From Bloomberg

The International Energy Agency made a direct appeal to OPEC and other major oil …

Oil Market Tightening: IEA Chief

Oil Market Tightening: IEA Chief

From Reuters

NEW DELHI (Reuters) – Global oil markets could tighten towards the end of this year due to strong demand and uncertainty of production in some oil producing nations, the head of the International Energy Agency said.

“Definitely there …

August 31, 2018 - 2:41 pm Closing Bell Story‎, Energy News
World’s Oil Supply “Might be Stretched to the Limit” Due to Production Losses: IEA

World’s Oil Supply “Might be Stretched to the Limit” Due to Production Losses: IEA

From Reuters

Oil prices steadied on Thursday after sharp losses the previous session as the International Energy Agency (IEA) said the world’s oil supply cushion “might be stretched to the limit” due to production losses.

Benchmark Brent crude oil LCOc1 …

IEA World Oil Demand (mb/d = Millions of Barrels per Day), Feb. 2018

World Hungers for Oil: IEA

The International Energy Agency (IEA) released a new Oil Market Report (OMR) today.

In its OMR, the IEA said countries across the globe have been steadily consuming more and more oil over the past few years.

The IEA said that …

IEA’s Birol Backtracks 2017 Rebalance Prediction

IEA’s Birol Backtracks 2017 Rebalance Prediction

Birol believes rebalance is now coming in 2H of 2018

Back in July—on the U.S.’s Independence Day—Fatih Birol, the chief of the International Energy Agency (IEA) said he believed the oil market would rebalance in the second half of 2017, …

November 28, 2017 - 5:23 pm Closing Bell Story‎, Commodity Pricing, Crude Oil News
IEA Revises Up Forecasts of Global Oil Demand Growth

IEA Revises Up Forecasts of Global Oil Demand Growth

The latest Oil Market Report by IEA suggests that the global demand growth for oil has been revised upwards to 1.6 million BOPD. This number has already included the effects of Hurricanes Irma and Harvey on the U.S. energy demand.…

Non-OPEC Supply Growth will Hold Down Prices: EIA, IEA

Non-OPEC Supply Growth will Hold Down Prices: EIA, IEA

International oil prices are contingent upon both the worldwide growth in oil production and the worldwide growth in oil inventories. Understanding the balance of these movements, and interpreting those movement is undertaken by the Energy Information Agency (EIA) and the …

RBC Examines 3 Paths to Oil Rebalance

RBC Examines 3 Paths to Oil Rebalance

U.S. crude oil stocks at this point in 2017 have dropped below the record highs of 2016. But inventories are still high. So in the face of predicted increasing oil production from shale in 2017, rebalancing inventories will be difficult, …

Natural Gas Ready for Major Gains Over the Next 25 Years: IEA

Natural Gas Ready for Major Gains Over the Next 25 Years: IEA

Lower demand for coal will make natural gas an increasingly important fuel

The International Energy Agency (IEA) released its annual World Energy Outlook Wednesday, saying natural gas will play an increasingly important role in the mix of global fuels through …

November 17, 2016 - 6:47 pm Closing Bell Story‎, Oil and Gas 360 Articles
IEA: Essentially No Oversupply in Second Half of the Year

IEA: Essentially No Oversupply in Second Half of the Year

Supply and demand beginning to cool as oversupply shrinks – IEA, OPEC weigh in

The International Energy Agency sees supply and demand coming into balance during the third quarter of the year, according to its August Oil Market Report.…

Oil Reports Cast Contradicting Shadows of Oil Market: Oil Price Falls

Oil Reports Cast Contradicting Shadows of Oil Market: Oil Price Falls

In the last two days, three reports have been released with current data and predictions for the oil market moving forward. Yesterday, the Oil Market Reports for July were released from both OPEC and IEA, as well as the crude …