Reuters NEW DELHI – India will make up the biggest share of energy demand growth at 25% over the next two decades, as it overtakes the European Union as the world’s third-biggest energy consumer by 2030, the International Energy Agency (IEA) said. India’s energy consumption is expected to nearly double as the nation’s gross domestic product (GDP) expands to an
Reuters LONDON – Global emissions of the potent greenhouse gas methane from oil and gas production dropped 10% in 2020 mainly because of lower output as opposed to concerted climate action, a report by the International Energy Agency (IEA) found. Methane has more than 80 times the warming potential of carbon dioxide in its first 20 years in the atmosphere
Reuters LONDON – The roll-out of vaccines this month to combat the coronavirus pandemic will not quickly reverse the destruction wrought on global oil demand, International Energy Agency (IEA) warned on Tuesday. “The understandable euphoria around the start of vaccination programmes partly explains higher prices but it will be several months before we reach a critical mass of vaccinated, economically
Reuters OSLO – China’s greenhouse gas emissions will increase in 2020 compared to 2019 as they have rebounded after the COVID-19 outbreak, the head of the International Energy Agency said on Wednesday. “As of today, Chinese emissions this year, 2020, will be higher than in 2019, they rebounded,” Fatih Birol told a digital energy conference organised by Norwegian oil firm
Reuters LONDON – Oil prices rose on Thursday, taking this week’s gains to more than 12% on growing hopes that the world’s major producers will hold off from a planned supply increase, though the advance was kept in check by doubts that demand will recover quickly. Brent crude LCOc1 rose 50 cents, or 1.1%, to $44.30 a barrel by 1456 GMT while
Reuters LONDON, Nov 10 – Record levels of new renewable energy capacity are set to come on stream this year and next, while fossil fuel capacity will fall due to an economic slump and the COVID-19 crisis, the International Energy Agency (IEA) said in a report. In its annual renewables outlook, the IEA said new additions of renewables capacity worldwide
Reuters LONDON- Global refining throughput will increase in the last quarter of the year by more than 2 million barrels per day (bpd), the International Energy Agency (IEA) said on Wednesday, though the rise will not be sufficient to balance oil products markets. The sharp fall in demand for transport fuels owing to coronavirus lockdowns has placed significant pressure on
Reuters OSLO – The International Energy Agency (IEA) has nudged up its global gas demand forecast for this year, but still sees the biggest fall on record due to the impact of the COVID-19 pandemic. The Paris-based agency said on Monday it now expected gas demand to drop by 3% year-on-year, or 120 billion cubic metres (bcm), to 3,886 bcm.
Reuters LONDON/DUBAI – The United Arab Emirates has emerged as a major laggard in delivering oil output cuts in August, figures used by OPEC+ showed on Wednesday, as the group meets this week amid signs of a faltering demand recovery. Compliance with oil production cuts in August among OPEC+ members was seen at around 101%, four OPEC+ sources told Reuters
Reuters NEW YORK – Oil prices edged lower on Friday as investors feared demand would recover more slowly than expected from COVID-19 pandemic lockdowns, while rising supply also overshadowed optimism over falling crude and fuel inventories. This week, two prominent forecasters, the International Energy Agency and the Organization of the Petroleum Exporting Countries, trimmed their 2020 oil demand forecasts. [IEA/M]
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 percent. Meanwhile, the Nasdaq Composite seesawed between losses and gains after booking its 26th record-high close of the year on Thursday. Ticker Security Last Change Change %
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 per day (bpd), up 400,000 bpd from its outlook last month, citing a smaller-than-expected second-quarter decline. “While the oil market
