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Oil glut to last until mid-2017 unless OPEC cuts output: IEA

Oil glut to last until mid-2017 unless OPEC cuts output: IEA

A massive oil glut may weigh on world markets deep into next year unless the OPEC producer cartel makes good on its promise to cut output, the International Energy Agency (IEA) said today.

Oil tumbles 3% after both IEA, OPEC see glut persisting

Oil prices fell as much as 3 percent on Tuesday after both the world`s energy watchdog and OPEC revised forecasts that signalled the global crude glut could persist for much longer than expected.

Global oil surplus to persist into first half of 2017: IEA

Global oil surplus to persist into first half of 2017: IEA

  A sharp slowdown in global oil demand growth, coupled with ballooning inventories and rising supply means the crude market will be oversupplied at least through the first six months of 2017, the International Energy Agency said on Tuesday. 

IEA cuts oil demand forecast on Brexit impact

IEA cuts oil demand forecast on Brexit impact

The IEA said Thursday it had cut its oil demand growth forecast for 2017 because of a weaker outlook for the world economy following Britain`s vote to leave the European Union.

Air pollution kills six million people every year: Study

Air pollution kills six million people every year: Study

Due to such high death tolls, air pollution is now world's fourth-largest threat to human health, behind high blood pressure, dietary risks and smoking.

Global diesel demand crumbling, warns IEA

Global diesel demand crumbling, warns IEA

European demand for diesel is expected to have fallen in the first three months of 2016 for the first quarterly decline in nearly two years, the International Energy Agency reported on Thursday, the latest sign of distress in the fuel market.

Oil falls as dark clouds appear ahead of producer meeting

 Oil fell on Thursday as the International Energy Agency trimmed its forecast for demand growth and on signs that a producers` meeting this weekend will not yield a concrete plan to reduce oversupply.

Economic growth no longer translates into more greenhouse gas: IEA

Global economic growth did not translate into more harmful greenhouse gas emissions from the energy sector last year, the IEA said on Wednesday, a strong indication that growth and increased pollution no longer go hand in hand.

OPEC output falls despite Iran return more crude

OPEC said Monday its oil production fell in February despite member Iran steadily increasing its output after international sanctions were lifted in January following a landmark nuclear deal.

 IEA says oil price rout may finally be over

IEA says oil price rout may finally be over

The oil price may have finally bottomed out after an unprecedented drop over the past 18 months, the International Energy Agency (IEA) said today, noting oil's "remarkable recovery" over recent weeks

IEA says worst may be over for oil price

The oil price may have finally bottomed out after an unprecedented drop over the past 18 months, the International Energy Agency (IEA) said today, noting oil's "remarkable recovery" over recent weeks.

Oil price to start slow recovery in 2017: IEA

Oil price to start slow recovery in 2017: IEA

World oil prices are unlikely to rise from current levels before 2017, and even then their recovery will be slow as massive oil stocks feed into the market, the IEA said Monday.

IEA takes oil market bulls to the slaughterhouse

Oil prices may have rebounded off 12-year lows struck last month, but any hope for a broader recovery in the market would be misplaced, the IEA said Tuesday, noting OPEC is responsible for the latest glut of supplies on the market.

India's energy demand will be double by 2040: Pradhan

India's energy demands will be more than double by 2040 as the economy will grow over five times its current size, Petroleum Minister Dharmendra Pradhan said Monday.

Indo-Japan N-deal to boost India's renewable energy plans: IEA

India and Japan on December 12 sealed a broad agreement for cooperation in civil nuclear energy.

Oil prices resume decline in Asia

Oil prices resume decline in Asia

US benchmark West Texas Intermediate for delivery in December was trading 47 cents lower at USD 43.74 and Brent crude for December was down 26 cents at USD 47.18.

 

International Energy Agency sees low oil prices until 2020

Oil prices have bottomed out, are down more than 50 percent since the middle of last year.

India moving to centre stage of global energy system: IEA

India moving to centre stage of global energy system: IEA

International Energy Agency (IEA) Executive Director Fatih Birol said the organisation would like to see India and China join the grouping during its meet in Paris on November 17-18.

Oil prices could rise from mid-2016 on falling supply: IEA

At a time of uncertainty created by the precipitous fall in oil prices and oversupply, the International Energy Agency (IEA) said on Monday that prices could go up from mid-2016 with supplies tightening due to a drop in investment and falling US output.

Need $13.5 trn for full implementation of climate pledges: IEA

Need $13.5 trn for full implementation of climate pledges: IEA

The energy industry needs a strong and clear signal from the Paris Climate Summit, the IEA has said.