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Has oil industry already crossed the Rubicon of peak demand?

Although crude prices have rebounded from coronavirus crisis lows, oil execs and experts are starting to ask if the industry has crossed the rubicon of peak demand.

Coronavirus to cause first annual decline in oil use in decade: IEA

Paris - The world is set for its first annual decline in oil consumption in more than a decade due to the impact of the coronavirus outbreak, the IEA said Monday.

COVID-19 causing first drop in oil use in decade: IEA

Paris - Global oil demand will suffer its first quarterly drop in a decade as the COVID-19 virus lashes the economy in China and its impact ripples throughout the world, the IEA said Thursday.

IEA says world needs 'laser-like focus' to bring down emissions

Paris - The world must do much more to slash emissions if it is to defuse the climate change time bomb and deliver sustainable energy for a growing population, the International Energy Agency said Wednesday.

Offshore windfarms can provide more electricity than we need

Offshore wind sites could provide more than enough clean energy to satisfy the world's electricity needs, said a report by the International Energy Agency.

Global renewable capacity to grow 50 percent over next few years

Global renewable energy capacity is set to rise by 50 percent in five years’ time, driven by solar photovoltaic (PV) installations on homes, buildings, and industry, according to the International Energy Agency (IEA).

Iraq on track to be third oil supplier in 2030: IEA

Baghdad - Iraq is on track to produce nearly six million barrels of crude daily by 2030, the International Energy Agency said Thursday, which would make it the world's third biggest oil supplier.

'Bad news': CO2 emissions to rise in 2018, says IEA chief

Paris - Energy sector carbon emissions will rise in 2018 after hitting record levels the year before, dimming prospects for meeting Paris climate treaty goals, the head of the International Energy Agency (IEA) said Wednesday.

'Crucial period' for oil as Iran exports shrink: IEA

Paris - Global oil output hit a record of 100 million barrels per day in August, but the market may tighten and prices rise as exports from Iran and Venezuela decline, the International Energy Agency said Thursday.

Global electric car sales up over 50 percent in 2017: IEA

Paris - Electric car sales around the world rose by 54 percent in 2017, taking global stock across the three-million threshold, the International Energy Agency said in a report Wednesday.

Iran, Venezuela weighing on oil market: IEA

Paris - Global oil supplies could be hit by the decision by the US to pull out of the Iran nuclear deal, and also by falling production in crisis-hit Venezuela, the IEA said on Wednesday.

Syria fears, OPEC compliance propping up oil price: IEA

Paris - Fears of fresh escalation in Syria's war coupled with compliance with a pledge by the OPEC cartel and Russia to limit production are keeping oil prices at current high levels, the International Energy Agency said Friday.

Crude oil expected to exceed global demand in 2018

Paris-based IEA raised its forecast for oil demand growth in 2018 to 1.4 million barrels per day, from a previous projection of 1.3 million bpd, after the International Monetary Fund upped its estimate of global economic growth for this year and next.

US to overtake Saudi as crude oil producer: IEA

Paris - The United States are set to overtake Saudi Arabia as the world's number two oil producer after Russia this year, as shale companies, attracted by rising prices, ramp up drilling, the International Energy Agency said on Friday.

Sunny future for renewables thanks to China: IEA

Paris - Solar energy is to lead the race to new power generation over the coming decades, thanks in large part to China and India, the International Energy Agency said Tuesday.

IEA cuts oil demand forecast

Paris - The International Energy Agency (IEA) cut its forecast for oil demand growth on Tuesday, saying recovering oil prices and a mild early winter were weighing on crude purchases.

IEA says nuclear power plants needed to help meet climate goals

Lisbon - A top energy agency is warning that the planned decommissioning of nuclear power plants in Europe and the United States by 2020 threatens global plans to cut carbon emissions unless more new nuclear plants are built or we expand the use of renewables.

World oil market 'close to balance' despite OPEC cuts: IEA

Paris - Supply and demand in the oil market are close to matching up, the IEA said Thursday, as landmark OPEC-led production cuts are mitigated by rising US supply and slipping worldwide demand growth.

Two reports, one conclusion — Energy shift must start now

Berlin - If the world wants to prevent a dangerous increase in global temperatures, all countries must shift away from energy production using fossil fuels, according to two separate international reports.

IEA urges Poland to curb reliance on coal

Varsovia - Poland should rethink its dependence on heavily polluting coal and focus instead on developing cleaner energy sources, the International Energy Agency said Wednesday.

OPEC pumping oil at record levels ahead of crunch meeting: IEA

Paris - Output by OPEC oil producers has reached record levels, the International Energy Agency said Thursday, raising fears a global oil glut will continue to weigh on markets unless the cartel agrees on a cut.

World energy use to grow one-third over 25 years: IEA

Paris - Global energy use is set to grow by one-third over the next 25 years, driven mostly by emerging economies, the International Energy Agency said on Tuesday.

IEA warns of 4.3C temperature jump from climate change

London - The International Energy Agency on Monday warned temperatures could jump by as much as 4.3 degrees Celsius by the end of the century and urged countries to improve their pledges on reducing emissions.

Crimea clouds oil market outlook: IEA

Paris - The global oil market is returning to a rough balance but Russia's annexation of Crimea has clouded the outlook with both supply and demand growth to slow, the International Energy Agency said Friday.

Oil demand to rise in 2014 on improving economy, energy body says

Paris - Global oil demand will rise faster than expected as the world economic outlook improves, the International Energy Agency said Friday, warning that the crisis in Ukraine can still drag down overall consumption.The latest demand estimate of 92.7 million ...

Energy agency raises 2014 oil demand forecast to 92.6 mbd

Paris - The IEA on Thursday pushed up its forecast for 2014 oil demand to 92.6 million barrels per day due to a rebound in growth in advanced economies.The International Energy Agency increased the forecast, by 125,000 barrels per day, despite the tapering of ...

Energy agency raises oil demand forecast

Paris - Global oil demand will rise faster than previously expected this year, the IEA forecast on Tuesday, reporting that consumption accelerated at the end of 2013 as advanced economies led by the United States recovered.

Have gas and oil prices reached their peak for 2012?

Four separate reports out this week suggest that the pain at the pump is starting to gradually ease for most Americans and possibly showing signs that the worst may be over.

Russia to become leading supplier of EU natural gas

Russia will surpass Norway as Europe's leading supplier of natural gas by the end of 2011 once the Nord Stream pipeline brings Siberian gas across the Baltic Sea to Germany.

International Energy Agency calls for an end to oil subsidies

London - The International Energy Agency (IEA) has released its World Energy Outlook 2010, forecasting energy use, production, investment and trading into 2035. The Agency has zeroed in on greenhouse gas emissions.
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