International Energy Agency (IEA) Company News
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IEA Rejects Oil Supercycle Concerns
Wednesday, March 17, 2021Oil markets aren't on the verge of a new price supercycle, the International Energy Agency said.
Why Does CCS Matter?
Wednesday, February 10, 2021Carbon capture and storage (CCS) technologies have seen a slow evolution over the years, but they continue to be viewed as essential to mitigating climate change.
IEA Validates Saudi Output Curbs
Tuesday, January 19, 2021On Tuesday, the International Energy Agency slashed forecasts for world oil demand in the first quarter.
IEA Sees Prolonged Drag on Oil Market from Virus
Tuesday, October 13, 2020The oil market will suffer a long-lasting blow from the coronavirus, with demand taking years to recover and peaking at a lower level, the IEA said.
OPEC Downgrades Supply Forecasts
Tuesday, October 13, 2020OPEC trimmed estimates for the amount of crude it will need to pump in the coming year.
Demand Accelerates for Floating Fuels Storage
Wednesday, September 16, 2020Big oil traders are rushing to book tankers with a view to storing a glut of refined petroleum.
Friction Growing within OPEC+
Tuesday, September 15, 2020The UAE almost entirely disregarded its commitment to OPEC+ production quotas last month, according to the International Energy Agency.
What to Expect for US Crude Oil Production
Monday, July 20, 2020The future for the US oil industry could prove much better than some currently realize.
OPEC Projects 2021 Surge in Crude Demand
Tuesday, July 14, 2020OPEC expects demand for its crude oil to rebound sharply next year.
IEA Welcomes Return of Oil Surplus
Wednesday, November 14, 2018The IEA welcomes the oil market's return to surplus.
IEA Urges OPEC to Open Taps as Oil Markets Enter 'Red Zone'
Tuesday, October 09, 2018The International Energy Agency made a direct appeal to OPEC and other major oil producers to boost output.
IEA Warns of Higher Oil Prices as Iran and Venezuela Losses Deepen
Thursday, September 13, 2018The IEA warns that oil prices could break out above $80 a barrel unless other producers act to offset deepening supply losses in Iran and Venezuela.
IEA: Surge In Global Oil Supply May Overtake Demand In 2018
Tuesday, February 13, 2018The rise in global oil production, led by the US, is likely to outpace growth in demand this year, IEA says.
Shale Sends US Output Past Historic 10 Million-Barrel Mark
Wednesday, January 31, 2018US oil production surged above 10 million barrels a day for the first time in four decades.
IEA Sees Oil Markets Tightening As Venezuelan Output Collapses
Friday, January 19, 2018Global oil markets are tightening quickly on falling supply from Venezuela, IEA says.
IEA: US To Account For Most World Oil Output Growth Over 10 Years
Thursday, November 16, 2017The United States is expected to account for more than 80% of global oil production growth in the next 10 years, IEA says.
IEA: China's Crude Oil Buying Spree Looks Set To Continue
Thursday, October 12, 2017China has built its crude oil stockpiles at a record pace in 2017 and inventories could hit the billion-barrel mark in six months, IEA says.
IEA Lifts Five-Year Renewables Forecast After Record 2016
Wednesday, October 04, 2017The IEA raises its forecasts for renewable energy over the next five years.
IEA Sees Strongest Global Oil-Demand Growth in Two Years
Wednesday, September 13, 2017Global oil demand will climb this year by the most since 2015, the IEA says, amid stronger-than-expected consumption in Europe and the US.
IEA Says No Need To Release Emergency Oil Supplies Due To Harvey
Monday, August 28, 2017The International Energy Agency says that there was no need for now to release fuel from emergency stockpiles.
IEA Cuts Estimates for Crude Needed From OPEC in 2017, 2018
Friday, August 11, 2017The International Energy Agency cut estimates for the amount of crude needed from OPEC this year and in 2018.
IEA Less Confident on Oil Rebalancing as OPEC Supply Rises
Thursday, July 13, 2017The rebalancing of global oil markets has become less certain, with OPEC production rising and little evidence that bloated stockpiles are shrinking as expected, the IEA says.
IEA: Rapid Nuclear Decommissioning Threats Climate Targets
Wednesday, June 21, 2017Decommissioning nuclear plants in Europe and North America from 2020 threatens global plans to cut carbon emissions unless governments build new nuclear plants or expand the use of renewables.
IEA: Carbon Capture Needed In Climate Change Fight
Monday, June 19, 2017Carbon capture and storage is gradually gaining government attention after being overtaken by investment in wind and solar energy, with the IEA saying the technology will be crucial.
IEA Says Global Oil Market Nears Balance Even As Stocks Rise
Thursday, April 13, 2017Global demand for oil is finally close to outstripping supply after nearly three years of surplus production, despite growth in the overhang of unused crude, the IEA says.
IEA's Birol: 20% Upstream Investment Needed This Year
Monday, March 06, 2017Without significant exploration and production investment in 2017, spare oil capacity will drop to 14-year-low as demand ratchets up to meet production, Fatih Birol, IEA executive director says.
IEA Says Record OPEC Cut Compliance Helps Oil Market Rebalance
Friday, February 10, 2017Global oil output plunged in January as OPEC and non-OPEC producers curbed supply to accelerate a market rebalancing.
Digital Tech in Oil, Gas Could Reduce CAPEX by 20%
Monday, January 30, 2017The effective use of digital technologies in the oil and gas sector could reduce capital expenditures (CAPEX) and operational cost by 20 percent and 5 percent, respectively.
IEA: Climate Policy Will Not Dampen Upstream Investment
Monday, January 30, 2017The emphasis on climate policy will not dampen investment in the upstream oil and gas sector, according to Fatih Birol, executive director of the International Energy Agency.
IEA: OPEC Output Cuts Under Security As Market Tightens
Thursday, January 19, 2017World oil markets are slowly tightening as demand rises while investors wait to see if production cuts agreed by OPEC and other producers will be implemented as promised.
IEA Sees Significant Gains in US Shale Oil as Prices Rise
Wednesday, January 18, 2017Oil-price gains will trigger a "significant" increase in US shale output as OPEC and other producers rein in supply, according to the head of the International Energy Agency.
IEA Says Natural Gas Could be Utilized More in Czech Rep
Wednesday, December 14, 2016The International Energy Agency has praised the Czech Republic for supporting the development of robust natural gas infrastructure, but said that gas could be utilized more in the country.
IEA Expects Oil Investment To Fall For Third Year In 2017
Thursday, November 24, 2016Investment in new oil production is likely to fall for a third year in 2017 as a global supply glut persists.
IEA: Industry Entering Period of Greater Oil Price Volatility
Wednesday, November 16, 2016The industry is entering a period of greater oil price volatility, according to Fatih Birol, the IEA's executive director.
Oil Firms Seen Spending More Next Year For First Time Since 2014
Friday, September 23, 2016The oil industry may be ready to open its wallet after two years of slashing investments.
Gadfly: Introducing The Pre-Freeze Oil Boil Before OPEC Meets
Monday, September 19, 2016Most oil-market observers will be keenly aware of a meeting in Algeria later this month at which the world''s biggest producers will -- or won't -- commit to freezing their crude production.
Crude Glut Belies Risk From OPEC's Dwindling Output Cushion
Friday, September 16, 2016As most of the world focuses on how unfettered oil production will weigh on prices, a few say a rebound is on the cards as the market starts to reflect a growing risk of shortages.
China Crude Buying Seen Buoyed As Output Drop Lures Imports
Wednesday, September 14, 2016China's crude oil imports may rise further in the coming months as tumbling domestic output leaves refiners looking overseas for supplies, helping ease a persistent global glut.
IEA: Upstream Collapse Dragged Down Overall Energy Spend in 2015
Tuesday, September 13, 2016The IEA's first detailed report on global energy investment shows the collapse in upstream oil and gas spending caused total investment across the global energy system to fall eight percent in 2015.
Biggest Oil Traders See Another Year Of Pain As Glut Persists
Thursday, September 08, 2016The largest oil traders are anticipating little relief to what has become the worst market slump in a generation.
Dark Clouds Loom For Oil As China Chases Blue Skies For G-20
Tuesday, August 23, 2016China is throwing the world's leaders a party, and oil bulls may be hit with the hangover.
Drop In The Ocean: India's Strategic Oil Reserves Unlikely To Stir Market
Friday, July 29, 2016India's initial plan to build-up its strategic petroleum reserves (SPR) is not shaping out to be the dramatic event that some in the market had hoped could help reignite global oil demand.
US Shale Gas Shaking Up Global Markets As LNG Trading Surges
Thursday, July 28, 2016Shale drillers from Pennsylvania to Texas flooded the U.S. with so much natural gas over the past decade that prices slid to a 17-year low. Now they're going global, with the potential to upset markets from London to Tokyo.
Return Of Oil Contango Shows Market Recovery Will Be Bumpy Ride
Tuesday, July 12, 2016On the surface, the recovery of the global oil market is firmly in place, signaling an end to two years of oversupply and collapsing prices. However, one key indicator is warning of turbulence ahead.
Oil Heads For Best Quarter Since 2009 Amid Rebalancing
Thursday, June 30, 2016Oil headed for the biggest quarterly advance in seven years as falling U.S. supply added to speculation the global oversupply is easing.
OPEC Turmoil Could Turn IEA's Balanced Market Into Shortfall
Thursday, June 16, 2016The world's most prominent oil forecaster, the International Energy Agency, anticipates near-equilibrium between supply and demand in global crude markets next year.
At $50/B, Oil Risks 'Reverse Goldilocks' Syndrome
Wednesday, June 15, 2016Oil's battle to reclaim $50 a barrel may have left it in a sticky situation, where the price is too low to lure fresh investor bulls and too high to force more production offline.
IEA Sees Smaller Global Oil Surplus As India Drives Demand Gains
Thursday, May 12, 2016The global oil surplus in the first half of this year will probably be smaller than previously estimated because of robust demand in India and other emerging nations, the International Energy Agency says.
IEA Chief Says Oil Market, Prices To Return To Balance By 2017
Thursday, April 21, 2016IEA chief Fatih Birol says he expects the oil market to come back into balance from oversupply by next year, providing there is no major economic downturn.
IEA: OPEC, Russia Oil Output Freeze Deal May Be 'Meaningless'
Wednesday, March 23, 2016A deal among some OPEC producers and Russia to freeze production is perhaps "meaningless" as Saudi Arabia is the only country with the ability to increase output, a senior executive from the IEA says.