World Oil (Bloomberg) –Oil in New York surged past $81 a barrel after the International Energy Agency became the latest to say natural gas shortages are boosting demand for crude. WTI crude futures rose 1.5% to near the highest level since 2014. Record gas prices could add about 500,000 barrels a day of oil use over the next six months,
CNBC Low-carbon hydrogen isn’t “cost competitive with other energy supplies in most applications and locations” and the situation is unlikely to change unless there’s “significant support to bridge the price gap,” according to the World Energy Council. Published Tuesday, the analysis – which was put together in collaboration with PwC and the U.S. Electric Power Research Institute – raised the
Nasdaq LONDON – The global rebound from the COVID-19 pandemic is set to drive emissions of greenhouse gases that stoke climate change to all-time highs, the Paris-based International Energy Agency said in a report on Tuesday. “We estimate that full and timely implementation of the economic recovery measures announced to date would result in CO2 emissions climbing to record levels
CNBC The planet’s demand for electricity is set for a strong rebound this year and next after dropping by approximately 1% in 2020, according to a new publication from the International Energy Agency. Released Thursday, the IEA’s Electricity Market Report forecasts that global electricity demand will jump by nearly 5% in 2021 and 4% in 2022 as economies around the
Reuters NEW YORK -Oil prices edged up to multi-year highs on Friday, heading for a third straight week of gains on the improved outlook for worldwide demand as rising vaccination rates lead to a lifting of pandemic curbs. Brent crude futures rose 35 cents to $72.87 a barrel by 11:20 a.m. EDT (1520 GMT), a day after closing at their highest
Reuters Several Total (TOTF.PA) shareholders plan to demonstrate their concern that the French firm is not doing enough to curb carbon emissions at its shareholder meeting on Friday, as global oil and gas companies come under growing environmental pressure. The International Energy Agency has warned that new fossil fuel projects must stop this year if the world wants to reach net zero
Reuters A stark appeal by the world’s top energy body to stop investment in new fossil fuel projects by next year has met a mixed reception from the world’s top producers – from guarded praise and pledges to cut back on coal to outright defiance. The International Energy Agency said in its “Net Zero by 2050” report last week that
Reuters LONDON – Investors should not fund new oil, gas and coal supply projects if the world wants to reach net zero emissions by mid-century, the International Energy Agency (IEA) said on Tuesday, calling instead for a large expansion of renewable energy technologies. A global climate pact agreed in 2015 to cap the rise in temperatures to as close as
Reuters LONDON -Oil demand is already outstripping supply and the shortfall is expected to widen even if Iran boosts exports as vaccinations against COVID-19 bolster the global economy, the International Energy Agency (IEA) said on Wednesday. “The anticipated supply growth through the rest of this year comes nowhere close to matching our forecast for significantly stronger demand beyond the second
CNBC The supply of critical minerals crucial for technologies such as wind turbines and electric vehicles will have to be ramped up over the next decades if the planet’s climate targets are to be met, according to the International Energy Agency. A new report from the Paris-based organization, published Wednesday and entitled “The Role of Critical Minerals in Clean Energy
Reuters LONDON- Gasoline demand may never recover to pre-pandemic levels, the International Energy Agency (IEA) said on Wednesday, with increased use in developing countries offset by rising fuel efficiency and a switch to electric vehicles in wealthy nations. In last year’s five-year outlook before the COVID-19 pandemic’s full force was felt in Western countries, the IEA said that gasoline demand
Reuters LONDON – Global oil supply still outstrips demand due to persistent COVID-19 lockdowns and the spread of variants, the International Energy Agency (IEA) said on Thursday, but vaccines should help demand recover and soon enable producers to pump more. “With demand forecast to rise strongly and still modest growth in non-OPEC supply expected, a rapid stock draw is anticipated
