IEA
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Age of Electricity, Analysis or Science Fiction?
SHANA (Tehran) - The International Energy Agency has predicted that fossil fuel consumption will reach its peak by the end of the current decade while electricity demand will rise dramatically, in what the IEA calls the Age of Electricity. OPEC has expressed its views on this issue in the form of an article which is as follows:
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IEA trims oil demand forecast on weakness in wealthier countries
The International Energy Agency (IEA) trimmed its forecast for 2024 oil demand growth on Friday, citing lower than expected consumption in OECD countries and a slump in factory activity.
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OPEC says IEA commentary on oil security encouraging
Oil producer group OPEC said it was encouraged by a commentary from the International Energy Agency (IEA) which underscored the importance of oil security, while the two remained far apart on the demand outlook.
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OPEC, IEA at most divided on oil demand since at least 2008
Producer group OPEC and the International Energy Agency, the world's most closely watched forecasters of oil demand growth, are further apart than they have been for at least 16 years in their views on fuel use, according to Reuters research.
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IEA sees relatively well supplied oil market in 2024
The global oil market is relatively well supplied with demand growth slowing, while supply is increasing from the Americas.
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Oil demand growth slowing as non-OPEC supply expands, says IEA
Global oil demand growth is losing momentum, the International Energy Agency (IEA) said on as it trimmed its 2024 growth forecast, in sharp contrast to the view held by producer group OPEC.
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IEA: Iran accounts for 12% of OPEC nine-month revenues
Iran’s oil revenues neared $34 billion in the first nine months (January-September) of 2023 despite brutal U.S. sanctions, accounting for 12 percent of OPEC member states’ total income.
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Oil prices rise on strong IEA and OPEC demand estimates
Oil prices rose on Thursday as the IEA joined producer group OPEC in forecasting relatively strong growth in global oil demand this year, with price impetus also coming from disruption to U.S. output and geopolitical risks in the Middle East.
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World oil demand next year to rise faster than expected, IEA says
World oil demand will rise faster than expected next year, the International Energy Agency (IEA) said, a sign that the outlook for near-term oil use remains robust despite this week's COP28 agreement to transition away from fossil fuels.
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Oil prices on track for first weekly rise in two months
Oil prices rose on Friday, on track to notch their first weekly rise in two months after benefiting from a bullish forecast from the International Energy Agency (IEA) on oil demand for next year and a weaker dollar.
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Whose ‘moment of truth’?
Last week, the International Energy Agency (IEA) in its report ‘The Oil and Gas Industry in Net Zero Transitions’ stated that the oil and gas industry faces a ‘moment of truth’. The industry has been told that it must “choose between fueling the climate crisis or embracing the shift to clean energy”, against the backdrop of the IEA’s proposed normative net-zero scenario.
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Oil and gas investment could halve by 2030 to meet climate goal: IEA
The current $800 billion invested annually in the global oil and gas sector could be halved by 2030 if a goal to limit global warming to 1.5 degrees Celsius is to be reached, the International Energy Agency (IEA) said in a report.
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World oil, gas, coal demand to peak by 2030, IEA says
World fossil fuel demand is set to peak by 2030 as more electric cars hit the road and China's economy grows more slowly and shifts towards cleaner energy, the International Energy Agency said, undercutting the rationale for any rise in investment.
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IEA, OPEC predictions of 2024 oil demand growth diverge further
The gap between two leading oil forecasters' views on 2024 demand growth widened on Thursday, with the International Energy Agency (IEA) predicting a sharper slowdown while producer group OPEC stuck to expectations for buoyant China-led growth.
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World at ‘beginning of end’ of fossil fuel era, IEA says
The world is at “the beginning of the end” of the fossil fuel era, according to the leading global energy watchdog, which for the first time has forecast that demand for oil, natural gas and coal will all peak before 2030.
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Oil prices could rise further this year, but 2024 demand to slow sharply: IEA
OPEC+ supply cuts could erode oil inventories in the rest of this year, potentially driving prices even higher, before economic headwinds limit global demand growth in 2024, the International Energy Agency (IEA) said on Friday.
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IEA chief says oil demand projections depend on China's growth
The International Energy Agency (IEA) will revise its global oil demand growth projections based on the economic growth prospects of China and some other countries, its executive director Fatih Birol said on Saturday.
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Oil edges up on supply cuts, demand hopes
Oil prices edged higher on Tuesday supported by supply cuts by the world's biggest oil exporters and continued hopes for higher demand in the developing world in the second half of 2023.
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Oil supply won't be affected by stricter price cap enforcement, IEA says
The International Energy Agency (IEA) does not expect moves by the Group of Seven nations to counter the evasion of price caps on Russian energy will change the supply situation for crude oil and oil products, the IEA's Executive Director Fatih Birol said.
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OPEC, IEA clash over latest output cuts
OPEC and the International Energy Agency (IEA) do not see eye to eye when it comes to the latest cuts in oil output by OPEC+ producers.
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OPEC+ cut risks straining tight oil market: IEA
SHANA (Tehran) – Oil production target cuts announced by the OPEC+ group over the weekend risk exacerbating a strained market and pushing up oil prices amid inflationary pressures, the International Energy Agency (IEA) said on Monday.
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IEA: Iran’s Feb. oil output hit 2.65 mbd, up despite sanctions
SHANA (Tehran) – The latest International Energy Agency (IEA) figures show crude oil production in sanctions-hit Iran reached 2.65 million barrels per day (mbd) in February.