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Oil prices could go even higher if OPEC+ sticks to production cuts  Oil prices have soared about 20 per cent since late June but they could go even higher this year if the OPEC+ alliance sticks to its policy of restraining crude production, the International Energy Agency (IEA) said on Friday, a media report said. In April, the Organization of the Petroleum Exporting Countries (OPEC) plus allies including Russia had pledged to slash output by more than 1.6 million barrels a day through the end of the year in a bid to lift falling oil prices, CNN repo...
Oil prices could go even higher if OPEC+ sticks to production cuts
Oil prices could go even higher if OPEC+ sticks to production cuts
Source: IANS
12/08/2023 9:06:41 AM
Oil flat after bigger-than-expected build in U.S. crude stockpiles Oil prices were largely unchanged in early Asian trade on Wednesday as hopes for higher demand in the developing world and supply cuts by the world's biggest oil exporters offset fears of an economic downturn driving up U.S. crude stockpiles. Brent futures slipped 4 cents, to $79.36 a barrel by 0015 GMT while U.S. West Texas Intermediate (WTI) crude fell 1 cent to settle at $74.82. Keeping a lid on prices, U.S. crude inventories rose by about 3 million barrels in the week to July 7,...
Oil flat after bigger-than-expected build in U.S. crude stockpiles
Oil flat after bigger-than-expected build in U.S. crude stockpiles
Source: Reuters
12/07/2023 9:14:55 AM
Oil up as market weighs supply cuts against gloomy economic outlook Oil prices ticked higher on Tuesday as markets weighed supply cuts for August by top exporters Saudi Arabia and Russia against a weak global economic outlook. On Monday, Saudi Arabia said it would extend its voluntary output cut of 1 million barrels per day (bpd) to August, while Russia and Algeria volunteered to lower their output and export levels for August by 500,000 bpd and 20,000 bpd respectively. If fully implemented, that would lead to a combined reduction of 5.36 million bpd ve...
Oil up as market weighs supply cuts against gloomy economic outlook
Oil up as market weighs supply cuts against gloomy economic outlook
Source: Reuters
4/07/2023 6:52:05 PM
Oil companies may cut petrol, diesel prices by Rs 4-5/litre from Aug as state polls near Oil marketing companies (OMCs) may have to cut petrol and diesel price by Rs 4-5 a litre from August onwards given the key state elections likely from November-December onwards. Though OMCs' FY24 P/B valuations appear reasonable, there exists significant uncertainty on earnings in the fuel marketing business given risk of OPEC+ strong pricing power driving high crude price during the next election-heavy 9-12 months, JM Financial Institutional Securities said in a research. Hence, op...
Oil companies may cut petrol, diesel prices by Rs 4-5/litre from Aug as state polls near
Oil companies may cut petrol, diesel prices by Rs 4-5/litre from Aug as state polls near
Source: IANS
23/06/2023 11:59:42 AM
Annual clean energy investments will need to more than triple from $770 bn: Report Annual clean energy investments in emerging and developing economies will need to more than triple from $770 billion in 2022 to as much as $2.8 trillion by the early 2030s to meet rising energy needs and align with the climate goals set out in the Paris Agreement, a new report released by the International Energy Agency (IEA) and International Finance Corporation (IFC) said on Wednesday. The report, Scaling Up Private Finance for Clean Energy in Emerging and Developing Economies, shows tha...
Annual clean energy investments will need to more than triple from $770 bn: Report
Annual clean energy investments will need to more than triple from $770 bn: Report
Source: IANS
21/06/2023 11:20:11 AM
India to soon overtake China as largest driver of global oil demand: IEA chief International Energy Agency (IEA) chief Fatih Birol has said that India will soon overtake China as the largest driver of global oil demand even as it has an opportunity to become a world leader in green hydrogen production. He said this is primarily because China has seen faster adoption of electric vehicles, leading to a drop in petrol and diesel consumption. He noted that a swelling population, which has likely already surpassed that of China, is driving demand in the world’s third-l...
India to soon overtake China as largest driver of global oil demand: IEA chief
India to soon overtake China as largest driver of global oil demand: IEA chief
Source: Accord Fintech
15/06/2023 11:41:37 AM
India aims to launch 'Global Biofuel Alliance' during G20 energy ministerial meeting next month  Minister of Petroleum and Natural Gas Hardeep Puri on Wednesday said that to resolve the common concerns of upcoming economies, India is proposing to launch the Global Biofuel Alliance under India's G20 presidency during the Energy Ministerial Meeting in July 2023. In a meeting with International Energy Agency (IEA) Executive Director Fatih Birol, the minister said that the aim of the Alliance is to implement projects in order to increase the deployment of biofuels and its relate...
India aims to launch 'Global Biofuel Alliance' during G20 energy ministerial meeting next month
India aims to launch 'Global Biofuel Alliance' during G20 energy ministerial meeting next month
Source: IANS
15/06/2023 10:06:51 AM
Brent crude price trajectory linked to US rate action and developments in China: Emkay Wealth Management Mumbai: Emkay Wealth Management, the wealth management and advisory arm of Emkay Global Financial Services has released a note on Brent crude price trajectory, the factors that will be at play in the near future. Oil prices have been range bound for most parts of CY23. In fact, crude started the year trading in the range of 80-85 levels. It has cooled off from that level despite OPEC announcing a cut in the output earlier this month. US & China will show the way The fall in oil...
Brent crude price trajectory linked to US rate action and developments in China: Emkay Wealth Management
Brent crude price trajectory linked to US rate action and developments in China: Emkay Wealth Management
Source: Emkay Wealth Management
13/06/2023 12:16:59 PM
Clean energy investment extending lead over fossil fuels: IEA Investment in clean energy technologies is significantly outpacing spending on fossil fuels as affordability and security concerns triggered by the global energy crisis strengthen the momentum behind more sustainable options, a new International Energy Agency (IEA) report said on Thursday. About $2.8 trillion is set to be invested globally in energy in 2023, of which more than $1.7 trillion is expected to go to clean technologies -- including renewables, electric vehicles, nuclear power, g...
Clean energy investment extending lead over fossil fuels: IEA
Clean energy investment extending lead over fossil fuels: IEA
Source: IANS
25/05/2023 6:18:51 PM
India and China to drive low carbon emission investments in APAC: Moody's India and China are expected to drive the investment in low carbon emissions in the Asia Pacific Region (APAC), Moody's Investor's Service said in a report. The International Energy Agency (IEA) estimates that India will spend $53 billion and $87 billion of average annual investment in 2021-25 and 2026-30, respectively, to achieve the Stated Policy Scenario (STEPS) trajectory of emissions reductions, while China will spend $239 billion and $210 billion during the same period, Moody...
India and China to drive low carbon emission investments in APAC: Moody's
India and China to drive low carbon emission investments in APAC: Moody's
Source: IANS
24/05/2023 8:51:24 AM
Oil slips as U.S. debt caution offset supply concerns Oil prices slipped on Monday as caution around the U.S. debt ceiling talks and concerns about demand recovery in China offset support from lower supplies from Canada and OPEC+ producers. Brent crude futures fell 48 cents, or 0.6%, to $75.10 a barrel by 0201 GMT while U.S. West Texas Intermediate (WTI) crude for July delivery, the more actively traded contract, fell 45 cents, or 0.6%, to $71.24. The June WTI contract, which expires later on Monday, fell 52 cents to $71.03 a barrel. Th...
Oil slips as U.S. debt caution offset supply concerns
Oil slips as U.S. debt caution offset supply concerns
Source: Reuters
22/05/2023 8:55:39 AM
G7 agrees to short-term gas investments amidst Russia-Ukraine war The G7 leaders on Saturday agreed to stronger language on short-term gas investments in the context of Russia's ongoing war against Ukraine and the resulting energy crisis. "We stress the important role that increased deliveries of LNG can play, and acknowledge that investment in the sector can be appropriate in response to the current crisis and to address potential gas market shortfalls provoked by the crisis," reads the text. The text makes clear these investments must ...
G7 agrees to short-term gas investments amidst Russia-Ukraine war
G7 agrees to short-term gas investments amidst Russia-Ukraine war
Source: IANS
21/05/2023 10:03:08 AM
One in five cars sold this year will be electric - IEA  Electric cars are expected to make up nearly one-fifth of the global market this year, according to the International Energy Agency's (IEA) outlook report for the electric vehicle market released on Wednesday. Sales are expected to grow by 35% this year to reach 14 million, the report said, comprising 18% of the market - up from just 4% in 2020. The shift from combustion engine to electric cars will reduce global demand for oil by at least five million barrels a day, according...
One in five cars sold this year will be electric - IEA
One in five cars sold this year will be electric - IEA
Source: Reuters
26/04/2023 10:56:37 AM
Global oil demand on course for a record high  Global demand for oil this year is on track to rise to a record 101.9m barrels per day as China leads an economic surge among developing nations, the world's leading energy body has forecast, a media report said. The International Energy Agency's predicted daily average for 2023 is 2m bpd higher than last year's figure. The price of a barrel of oil rose from $85.62 to $86.10 on Friday morning after the IEA's report was published, The Guardian reported. The agency w...
Global oil demand on course for a record high
Global oil demand on course for a record high
Source: IANS
14/04/2023 5:33:02 PM
Global energy-related CO2 emissions reach new high in 2022: IEA Global energy-related CO2 emissions increased by 321 megatonne (Mt) in 2022 to a new high of more than 36.8 gigatonne (Gt). The increase was lower than previously projected, the International Energy Agency (IEA) said in a report. The 0.9 per cent increase for the whole year 2022 was much slower than the rebound of more than 6 per cent in 2021. Emissions from energy combustion increased by 423 Mt, while emissions from industrial processes decreased by 102 Mt, Xinhua news agency reported. ...
Global energy-related CO2 emissions reach new high in 2022: IEA
Global energy-related CO2 emissions reach new high in 2022: IEA
Source: IANS
3/03/2023 10:08:57 AM
Oil prices on track to finish week lower on U.S. rate hike worries  Oil prices were on track for weekly losses as strong U.S. economic data heightened concerns that the Federal Reserve would further tighten monetary policy to tackle inflation, a move that could hit fuel demand even as crude stockpiles grow. Brent crude futures dropped 64 cents, or 0.75%, to $84.50 per barrel by 0334 GMT on Friday, while U.S. West Texas Intermediate (WTI) crude futures shed 59 cents, also a 0.75% loss, to $84.50. Both benchmarks were headed for a weekly decline of mor...
Oil prices on track to finish week lower on U.S. rate hike worries
Oil prices on track to finish week lower on U.S. rate hike worries
Source: Reuters
17/02/2023 10:24:27 AM
Petroleum Ministry inks pact with IEA on data sharing The Indian government on Tuesday signed a pact with the Paris-based International Energy Agency (IEA) for strengthening cooperation in the field of data and research and for enhancing global energy security, stability, and sustainability. The Statement of Intent (SoI) was signed in the presence of Petroleum and Urban Affairs Minister Hardeep Puri, by P Manoj Kumar, Director General of Petroleum Planning and Analysis Cell (PPAC) and Fatih Birol, Executive Director of IEA, on the sidelines o...
Petroleum Ministry inks pact with IEA on data sharing
Petroleum Ministry inks pact with IEA on data sharing
Source: IANS
8/02/2023 10:36:48 AM
`Three As drive EV adoption worldwide and in India` Three A's - affordability, availability and acceptance - are driving the growth of electric vehicles (EV) globally and in India, said Emkay Global Financial Services in a report. According to the report, the benign government policy has increased the affordability quotient with reducing input costs. Advancement in availability is on account of increase in EV model options for customers and expansion of the charging/manufacturing ecosystem. And customer acceptance is enhancing owing ...
`Three As drive EV adoption worldwide and in India`
`Three As drive EV adoption worldwide and in India`
Source: IANS
8/02/2023 10:31:01 AM
India`s economy already 10% more energy efficient than G20 average: IEA  India's economy is already 10 per cent more energy efficient than both the global and G20 average. India took less time to go from half to full electricity access than other major economies, the International Energy Agency (IEA) said on Monday. Just hours ahead of Prime Minister Narendra Modi inaugurating the three-day India Energy Week in Bengaluru to showcase India's rising prowess as an energy transition powerhouse, the IEA said the adoption worldwide of the kinds of actio...
India`s economy already 10% more energy efficient than G20 average: IEA
India`s economy already 10% more energy efficient than G20 average: IEA
Source: IANS
6/02/2023 9:06:07 AM
Oil prices fall but remain buoyed by China outlook  Oil prices drifted lower in early trade on Monday, thinned by the Lunar New Year holiday in east Asia, but held on to most of last week's gains on the prospect of an economic recovery in top oil importer China this year. Brent crude futures retreated by 46 cents, or 0.5%, to $87.17 at 0031 GMT, while U.S. West Texas Intermediate (WTI) crude futures fell 40 cents, also down 0.5%, to $81.24 a barrel. Last week Brent rose 2.8%, while the U.S. benchmark logged a 1.8% gain. Data...
Oil prices fall but remain buoyed by China outlook
Oil prices fall but remain buoyed by China outlook
Source: Reuters
23/01/2023 9:00:47 AM
Oil settles up more than 1% on China demand outlook, second weekly gain Oil settled up about $1 a barrel on Friday and notched a second straight weekly gain as China's economic prospects brightened, boosting expectations for fuel demand in the world's second-biggest economy. China's lifting of COVID-19 restrictions should bring global demand to a record high this year, the International Energy Agency (IEA) said on Wednesday, a day after OPEC also forecast a Chinese demand rebound. Brent crude settled at $87.63 a barrel, up $1.47, or 1.7%. U.S. c...
Oil settles up more than 1% on China demand outlook, second weekly gain
Oil settles up more than 1% on China demand outlook, second weekly gain
Source: Reuters
21/01/2023 9:21:13 AM
Global coal consumption to reach all-time high this year - International Energy Agency Global coal consumption is set to rise to an all-time high in 2022 and remain at similar levels in the next few years if stronger efforts are not made to move to a low-carbon economy, a report by the International Energy Agency (IEA) said on Friday. High gas prices following Russia's invasion of Ukraine and consequent disruptions to supply have led some countries to turn to relatively cheaper coal this year. Heatwaves and droughts in some regions have also driven up electricity dema...
Global coal consumption to reach all-time high this year - International Energy Agency
Global coal consumption to reach all-time high this year - International Energy Agency
Source: Reuters
16/12/2022 12:04:34 PM
`Coming flood of demand from energy transition will cause copper prices to rise again` Copper prices have fallen about 20 per cent from their high point this year. That reflects the metal's oft-noted role as "Dr. Copper" - its price as a predictor of economic slowdowns and recessions, Daniel Yergin, Vice Chairman of S&P Global said in a note. And indeed, the IMF sees a sharp slowdown in global growth in 2022 and projects further slowing in 2023 and potential recession - as do many other forecasters. But, post-recession, the coming flood of demand from the ...
`Coming flood of demand from energy transition will cause copper prices to rise again`
`Coming flood of demand from energy transition will cause copper prices to rise again`
Source: IANS
16/12/2022 10:23:33 AM
Stocks drop as central banks meet after 'higher for longer' Fed view Global shares slid for a second day on Thursday as major central banks deliver their final policy decisions of the year, with the U.S. Federal Reserve signalling that it expected interest rates to stay higher for longer. In Europe, the Swiss National Bank delivered an expected half-point hike that brought rates to a 14-year high of 1%. The franc reversed early losses and rose against the euro as well as the dollar after Chairman Thomas Jordan said the central bank will keep propping up ...
Stocks drop as central banks meet after 'higher for longer' Fed view
Stocks drop as central banks meet after 'higher for longer' Fed view
Source: Reuters
15/12/2022 9:01:40 AM
Analysis-G7 Russian oil price cap evolves from revenue squeeze to market anchor When U.S. officials first floated the idea of capping Russian oil export prices in response to a planned European embargo in March, they pledged to squeeze revenues to Russia's war machine, while avoiding a devastating oil price spike. But keeping Russian oil on the market and global prices low soon became the bigger priority as oil prices jumped, people familiar with the mechanism's evolution and energy analysts said. The $60-per-barrel price limit on seaborne crude imposed by ...
Analysis-G7 Russian oil price cap evolves from revenue squeeze to market anchor
Analysis-G7 Russian oil price cap evolves from revenue squeeze to market anchor
Source: Reuters
7/12/2022 9:46:20 AM
Worldwide sales of heat pumps set to soar to record levels: IEA Worldwide sales of heat pumps are set to soar to record levels in the coming years as the global energy crisis accelerates their adoption, the International Energy Agency (IEA) said in a new special report released on Wednesday. The heating of most buildings around the world -- such as homes, offices, schools and factories -- still relies on fossil fuels, particularly natural gas. Heat pumps are a hyper-efficient and climate-friendly solution, which help consumers save money on bills an...
Worldwide sales of heat pumps set to soar to record levels: IEA
Worldwide sales of heat pumps set to soar to record levels: IEA
Source: IANS
30/11/2022 12:47:33 PM
Can COP27 deter Africa from a 'dash for gas' in green energy transition? It may not be on the official agenda at the COP27 climate summit in Egypt, but the thorny question of whether African nations should receive financial support to produce, use and export natural gas as part of a clean energy transition is on everyone's lips. Climate campaigners have pitched themselves against African governments that believe they should be allowed to use gas - which emits less climate-heating carbon dioxide than coal and oil when burned - to develop their economies and ...
Can COP27 deter Africa from a 'dash for gas' in green energy transition?
Can COP27 deter Africa from a 'dash for gas' in green energy transition?
Source: IANS
8/11/2022 5:08:10 PM
OPEC expected to stick to view of long-term oil demand rise OPEC's view that world oil demand will keep rising for longer than many other forecasters predict is not expected to change much in its forthcoming major report, despite the growing role of renewables and electric cars, two OPEC sources said. The Organization of the Petroleum Exporting Countries is scheduled to update its long-term oil demand forecasts in its 2022 World Oil Outlook on Oct. 31. The 2021 version sees oil demand plateauing after 2035. Another decade or more of oil dema...
OPEC expected to stick to view of long-term oil demand rise
OPEC expected to stick to view of long-term oil demand rise
Source: IANS
28/10/2022 1:56:56 PM
India likely to see world's biggest rise in energy demand this decade: IEA The International Energy Agency (IEA) in its World Energy Outlook has said that India is likely to see the world's biggest rise in energy demand this decade, with demand climbing 3 per cent annually due to urbanization and industrialization. While the push for renewable energy will see it meeting as much as 60 per cent of the growth in demand for power, coal will continue to meet a third of overall energy demand by 2030 and another quarter will be met by oil.      I...
India likely to see world's biggest rise in energy demand this decade: IEA
India likely to see world's biggest rise in energy demand this decade: IEA
Source: Accord Fintech
28/10/2022 12:48:21 PM
Government navigated energy challenges well: Petroleum Minister Hardeep Puri Petroleum Minister Hardeep Puri on Friday said the government has navigated the global energy challenges very well, insulating the developing economy from the rising global crude and gas prices. "At present, five million barrels of petroleum is being consumed in our country every day and it is also increasing by three percent, which is higher than global average of around one per cent," he said in Jaipur at the three-day South Asian Geoscience Conference "Geo India 2022"...
Government navigated energy challenges well: Petroleum Minister Hardeep Puri
Government navigated energy challenges well: Petroleum Minister Hardeep Puri
Source: IANS
15/10/2022 10:17:19 AM
Oil prices fall more than 3% on recession worries Oil prices plummeted more than 3% on Friday as global recession fears and weak oil demand, especially in China, outweighed support from a large cut to the OPEC+ supply target. Brent crude futures dropped $2.94, or 3.1%, to settle at $91.63 a barrel, while U.S. West Texas Intermediate (WTI) crude futures fell $3.50, or 3.9%, to $85.61. The Brent and WTI contracts both oscillated between positive and negative territory for much of Friday but fell for the week by 6.4% and 7.6%, respectivel...
Oil prices fall more than 3% on recession worries
Oil prices fall more than 3% on recession worries
Source: Reuters
15/10/2022 9:46:41 AM
Higher oil prices could tip the world economy into a recession: IEA  Western governments are furious after OPEC+ decided last week to slash oil production by the largest amount since the start of the pandemic, and the cartel's actions may tip the global economy over the edge, the International Energy Agency has warned, media reports said. "With unrelenting inflationary pressures and interest rate hikes taking their toll, higher oil prices may prove the tipping point for a global economy already on the brink of recession," the Paris-based...
Higher oil prices could tip the world economy into a recession: IEA
Higher oil prices could tip the world economy into a recession: IEA
Source: IANS
14/10/2022 9:48:55 AM
LNG markets may tighten further in 2023, IEA`s Birol says LNG markets in 2023 may be tighter than this year as demand may rise in China, India and other parts of Asia, the head of the International Energy Agency (IEA) said on Thursday. "We may well see that the LNG markets in 2023 will be rather tight, maybe tighter than this year," said Fatih Birol in remarks at the LNG Producer-Consumer Conference in Japan. Global gas prices have surged to record levels this year, as Russia's gas supply cuts have placed enormous strain on the E...
LNG markets may tighten further in 2023, IEA`s Birol says
LNG markets may tighten further in 2023, IEA`s Birol says
Source: Reuters
30/09/2022 8:53:18 AM
Oil prices up after Basra spill, but log weekly decline Oil prices rose slightly on Friday as a spill at Iraq's Basra terminal appeared likely to constrain crude supply, but remained down on the week on fears that hefty interest rate increases will curb global economic growth and demand for fuel. Brent crude futures settled at $91.35 a barrel, up 51 cents, while U.S. West Texas Intermediate (WTI) crude futures settled at $85.11 a barrel, up 1 cent. Both benchmarks were down by nearly 2% on the week, hurt partly by the U.S. dollar's s...
Oil prices up after Basra spill, but log weekly decline
Oil prices up after Basra spill, but log weekly decline
Source: IANS
17/09/2022 9:56:19 AM
Lower oil prices defy robust forecasts for global demand Oil prices have tumbled by around a quarter in the past three months, largely due to fears of a prolonged slump in global energy demand. But no major forecaster is actually predicting one.     Two of the most closely followed predictors of global oil demand, the Organization of the Petroleum Exporting Countries (OPEC) and the International Energy Agency (IEA) - the West's energy watchdog - see it growing by between 2% and 3% this year and next. That's nearly doubl...
Lower oil prices defy robust forecasts for global demand
Lower oil prices defy robust forecasts for global demand
Source: Reuters
16/09/2022 4:46:43 PM
Oil dips on weak demand fear, strong dollar Oil prices drifted lower on Thursday as weak demand concerns over a large build in the crude inventory in the United States plus a strong dollar overtook potential supply disruption as the centre of focus. The main Brent crude futures contract failed to hold onto its earlier gains and was down by 23 cents, or 0.2%, to $93.87 a barrel by 0636 GMT. U.S. West Texas Intermediate crude slipped by 9 cents, or 0.1%, to $88.39. Data released by the Energy Information Administration showed U.S. ...
Oil dips on weak demand fear, strong dollar
Oil dips on weak demand fear, strong dollar
Source: Reuters
15/09/2022 8:45:11 AM
Oil falls 2% on expectations that U.S. Gulf supply disruption will ease Oil prices plunged around 2% on Friday, on expectations that supply disruptions in the U.S. Gulf of Mexico would be short-term, while recession fears clouded the demand outlook. Futures, however, were still on track for a weekly gain. Brent crude futures fell $1.45, or 1.5%, to settle at $98.15 a barrel, while U.S. West Texas Intermediate (WTI) crude fell $2.25, or 2.4%, to settle at $92.09 a barrel. Both contracts gained more than 2% on Thursday. "We are pulling back a little b...
Oil falls 2% on expectations that U.S. Gulf supply disruption will ease
Oil falls 2% on expectations that U.S. Gulf supply disruption will ease
Source: Reuters
13/08/2022 9:30:44 AM
Oil prices on track for weekly gain as recession fears ease MELBOURNE - Oil prices dipped in early trade on Friday amid uncertainty on the demand outlook based on contrasting views from OPEC and the International Energy Agency (IEA), but benchmark contracts were headed for weekly gains as recession fears eased. Brent crude futures fell 34 cents, or 0.3%, to $99.26 a barrel at 0112 GMT, while U.S. West Texas Intermediate (WTI) crude futures fell 34 cents, or 0.3%, to $94.00 a barrel. Brent was on track to climb more than 4% for the week, recoupin...
Oil prices on track for weekly gain as recession fears ease
Oil prices on track for weekly gain as recession fears ease
Source: Reuters
12/08/2022 9:09:49 AM
Oil rises as IEA hikes 2022 demand growth forecast LONDON (Reuters) -Oil prices rose by over 1% on Thursday after the International Energy Agency raised its oil demand growth forecast for this year as soaring natural gas prices lead some consumers to switch to oil. Brent crude futures gained $1.29, or 1.3%, to $98.69 a barrel by 1348 GMT, while U.S. West Texas Intermediate crude futures rose $1.45, or 1.6%, to $93.38. "Natural gas and electricity prices have soared to new records, incentivising gas-to-oil https://www.reuters.com/ar...
Oil rises as IEA hikes 2022 demand growth forecast
Oil rises as IEA hikes 2022 demand growth forecast
Source: Reuters
11/08/2022 7:54:03 PM
Oil edges lower as supply disruption concerns ease Oil prices slipped in Asia on Thursday after gaining more than $1 in the previous session, as concerns over supply disruptions eased and markets looked for evidence of improving fuel demand. Brent crude futures dipped 18 cents, or 0.2%, to $97.22 a barrel by 0419 GMT, while U.S. West Texas Intermediate crude futures fell 22 cents, or 0.2%, to $91.71. Oil is struggling to find direction, suggesting investors have not reached consensus on the outlook for supply and demand, analysts from H...
Oil edges lower as supply disruption concerns ease
Oil edges lower as supply disruption concerns ease
Source: Reuters
11/08/2022 8:56:52 AM
World`s electricity demand growth slowing sharply as prices soar: IEA The world's electricity demand growth is slowing sharply from its strong recovery the previous year as economic growth weakens and energy prices soar following Russia's invasion of Ukraine, International Energy Agency's (IEA) Electricity Market Report said on Wednesday. Global electricity demand is expected to grow by 2.4 per cent in 2022 after last year's six per cent increase, bringing it in line with its average growth rate over the five years prior to the Covid-19 pande...
World`s electricity demand growth slowing sharply as prices soar: IEA
World`s electricity demand growth slowing sharply as prices soar: IEA
Source: IANS
20/07/2022 3:35:32 PM
IEA says oil market walking tightrope due to economic, supply risks The global oil market is "walking a tightrope" between scarce supply and the possibility of a recession, the International Energy Agency (IEA) said on Wednesday, with higher prices and worsening economic conditions already taking a toll on demand. The cloudy outlook is reflected in volatile trading, with Brent crude falling 7% to below $100 a barrel on Tuesday as futures traders worried over an economic contraction but high physical oil prices still indicate strong demand for now...
IEA says oil market walking tightrope due to economic, supply risks
IEA says oil market walking tightrope due to economic, supply risks
Source: Reuters
13/07/2022 1:54:33 PM
World has never witnessed worse energy crisis: IEA ED The world has not seen an energy crisis as it is witnessing now, in terms of depth and complexity, International Energy Agency (IEA) Executive Director Fatih Birol said on Tuesday. Addressing the Global Energy Forum, he said that the energy crisis is interwoven with many factors including geo-politics, referring to Russian military action in Ukraine and the sanctions imposed on Russia by the western nations. He said the world has not seen the worst of the energy crisis yet and it is aff...
World has never witnessed worse energy crisis: IEA ED
World has never witnessed worse energy crisis: IEA ED
Source: IANS
13/07/2022 9:22:13 AM
More oil, slower demand mean world can weather Russian losses LONDON - Lower output from Russia due to the fallout from its invasion of Ukraine will not leave the world short of oil, the International Energy Agency (IEA) said on Thursday, as supply ramps up elsewhere and Chinese lockdowns tamp down demand. "Over time, steadily rising volumes from Middle East OPEC+ and the U.S. along with a slowdown in demand growth is expected to fend off an acute supply deficit amid a worsening Russian supply disruption," the IEA said in its monthly oil re...
More oil, slower demand mean world can weather Russian losses
More oil, slower demand mean world can weather Russian losses
Source: Reuters
12/05/2022 2:17:22 PM
Clean energy spending in economic recovery packages surged by 50 pc: IEA Clean energy spending earmarked by governments in response to the Covid-19 crisis has risen by 50 per cent over the past five months and now stands at over $710 billion worldwide, though there are troubling imbalances between regions, the latest update of the IEA's Sustainable Recovery Tracker said on Tuesday. This unprecedented amount of enacted spending is more than 40 per cent larger than the global green spending contained in the stimulus packages that governments enacted following...
Clean energy spending in economic recovery packages surged by 50 pc: IEA
Clean energy spending in economic recovery packages surged by 50 pc: IEA
Source: IANS
12/04/2022 4:14:47 PM
Oil prices set for weekly fall on stockpile releases LONDON -Oil prices were stable on Friday but remained on course for a second weekly fall after countries announced plans to release crude from their strategic stocks. Brent crude futures were down 30 cents, or 0.3%, at $100.28 a barrel by 1333 GMT. U.S. West Texas Intermediate (WTI) crude futures fell 4 cents to $95.99. Both contracts are set to fall for a second consecutive week, with Brent on course for a 3.7% slide and WTI for a 3% decline. Member nations of the International...
Oil prices set for weekly fall on stockpile releases
Oil prices set for weekly fall on stockpile releases
Source: Reuters
8/04/2022 8:08:59 PM
Oil rises as uncertainty around supply persists Oil futures rose in early trading on Tuesday as the potential for more sanctions following alleged war crimes by Russian troops in Ukraine added to concerns about supply disruptions, while Iran nuclear talks stalled. Brent crude futures were up $1.58, or 1.5%, to $109.11 a barrel, while U.S. West Texas Intermediate futures were up $1.61, or 1.6%, to $104.89 a barrel at 0028 GMT. Both contracts briefly jumped more than $2 a barrel after Japanese industry minister Koichi Hagiuda said the ...
Oil rises as uncertainty around supply persists
Oil rises as uncertainty around supply persists
Source: Reuters
5/04/2022 8:46:58 AM
Oil rises after IEA supply shortfall warning Oil prices climbed on Thursday after the International Energy Agency (IEA) said markets could lose three million barrels per day (bpd) of Russian crude and refined products from April. The supply loss would be far greater than an expected one million bpd per day drop in demand triggered by higher fuel prices, the IEA said in a report on Wednesday. Benchmark Brent crude futures gained $1.8, or 1.9%, to $99.86 a barrel by 0408 GMT, after falling for three consecutive trading sessions. ...
Oil rises after IEA supply shortfall warning
Oil rises after IEA supply shortfall warning
Source: Reuters
17/03/2022 10:56:31 AM