Iea

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Iea - Total results - 37
Coronavirus impact: Fuel demand nearly halves in April as lockdown, travel curbs erode economic activity
Business

Coronavirus impact: Fuel demand nearly halves in April as lockdown, travel curbs erode economic activity

Consumption of fuel, a proxy for oil demand, totalled 9.93 million tonnes-its lowest since 2007, government data showed on Saturday.

Crude declines 4% to $28 on oversupply concerns; lack of coordinated oil purchases for strategic storage may hit deal
Business

Crude declines 4% to $28 on oversupply concerns; lack of coordinated oil purchases for strategic storage may hit deal

The IEA on Wednesday forecast a 29 million bpd dive in April oil demand to levels not seen in 25 years and said no output cut could fully offset the near-term falls facing the market.

OPEC, Russia approve biggest-ever oil cut to support prices amid coronavirus pandemic; cut unprecedented deal
Business

OPEC, Russia approve biggest-ever oil cut to support prices amid coronavirus pandemic; cut unprecedented deal

OPEC, Russia approve biggest-ever oil cut to support prices amid coronavirus pandemic; unprecedented deal made with oil producing nations

Oil prices jump more than 6% after biggest one-day fall since 1991; sparks hope price war by Saudi Arabia, Russia will not be sustained
Business

Oil prices jump more than 6% after biggest one-day fall since 1991; sparks hope price war by Saudi Arabia, Russia will not be sustained

Both benchmarks dropped to their lowest since February 2016 in the previous session and recorded their biggest one-day percentage declines since 17 January, 1991, when oil prices fell at the outset of the US Gulf War

Crude rises after three session of losses on short-covering, hopes for deeper output cut by OPEC
Business

Crude rises after three session of losses on short-covering, hopes for deeper output cut by OPEC

Crude prices inched higher on Wednesday as investors covered short positions after three sessions of losses and eyed potential supply cuts, even as fears of a coronavirus pandemic deepened

India's oil demand growth set to overtake China by mid-2020, says International Energy Agency
Business

India's oil demand growth set to overtake China by mid-2020, says International Energy Agency

India’s oil demand growth is set to overtake China by mid-2020s, priming the country for more refinery investment but making it more vulnerable to supply disruption in the Middle East, the International Energy Agency (IEA) said on Friday

The world needs to do more to deal with the climate change time bomb: IEA
News & Analysis

The world needs to do more to deal with the climate change time bomb: IEA

The IEA said, "the world urgently needs to put a laser-like focus on bringing down global emissions."

Oil rises on Middle East tensions, glum demand outlook caps gains; IEA closely monitoring developments in the Strait of Hormuz
Business

Oil rises on Middle East tensions, glum demand outlook caps gains; IEA closely monitoring developments in the Strait of Hormuz

The oil market is currently well supplied, with oil production exceeding demand in the first half of 2019, pushing up global stocks by 900,000 barrels per day, the IEA said in a statement.

International Energy Agency praises Ujjwala scheme for providing free cooking gas connection to poor
Business

International Energy Agency praises Ujjwala scheme for providing free cooking gas connection to poor

Prime Minister Narendra Modi's signature Ujjwala scheme for providing free cooking gas connection to poor on Friday came in for praise from the International Energy Agency (IEA), which said it is a "major achievement" in improving the environment and health of women

Crude prices jump, Brent up over 2% after US Navy downs Iranian drone in the Strait of Hormuz
Business

Crude prices jump, Brent up over 2% after US Navy downs Iranian drone in the Strait of Hormuz

The International Energy Agency (IEA) is reducing its 2019 oil demand forecast due to a slowing global economy amid a US-China trade spat, its executive director said on Thursday.

Oil prices slip as economic worries outweigh tanker tensions; OPEC meet in July may extend output curbs
Business

Oil prices slip as economic worries outweigh tanker tensions; OPEC meet in July may extend output curbs

Also sapping prices were the dim outlook for oil demand growth in 2019 projected by the International Energy Agency (IEA) on Friday, citing worsening prospects for global trade.

Spend twice as much on renewable power, slash investment in oil & coal: IEA
science

Spend twice as much on renewable power, slash investment in oil & coal: IEA

In 2018, investment in oil & gas projects rose by 4% while investment in coal sources rose only by 2%.

Iran's supreme leader Ayatollah Ali Khamenei says US oil sanctions won't go 'without a response'
World

Iran's supreme leader Ayatollah Ali Khamenei says US oil sanctions won't go 'without a response'

Iran's foreign ministry said Monday that Iran "did not and does not attach any value or credibility to the waivers given to the sanctions.

Oil falls as supply still adequate despite Iran sanctions; shipment from US may grow by 1.6 million bpd this year
Business

Oil falls as supply still adequate despite Iran sanctions; shipment from US may grow by 1.6 million bpd this year

US sanctions against oil exporter Iran were introduced in November 2018, but Washington allowed its largest buyers limited imports of crude for another half-year as an adjustment period.

Energy demand in 2018 exceeded renewables growth, caused record emission levels
science

Energy demand in 2018 exceeded renewables growth, caused record emission levels

The main drivers of this were a robust global economy & heating & cooling needs in some countries.

Oil price slips from 2019 highs as economic concerns weigh on sentiment; Venezuelan crude production dwindles
Business

Oil price slips from 2019 highs as economic concerns weigh on sentiment; Venezuelan crude production dwindles

Crude oil prices this year have been propped up by supply cuts by the OPEC and non-affiliated allies such as Russia, often referred to as ‘OPEC+’.

UAE keen to invest in refining, petrochem projects, store oil in India; wants to develop strategic partnership
Business

UAE keen to invest in refining, petrochem projects, store oil in India; wants to develop strategic partnership

UAE's Abu Dhabi National Oil Co and its partner Saudi Aramco have jointly taken a 50 percent stake in the planned $44 billion refinery-cum-petrochemical complex at Ratnagiri in Maharashtra.

Abu Dhabi National Oil Company hires India's strategic oil storage in Padur, Karnataka
Business

Abu Dhabi National Oil Company hires India's strategic oil storage in Padur, Karnataka

India will have the right over 65 percent of 6 million barrels of crude oil that ADNOC will store at the country’s maiden strategic storage at Mangalore.

High oil prices hurt consumers, affect current account deficits of many countries: IEA chief Fatih Birol
Business

High oil prices hurt consumers, affect current account deficits of many countries: IEA chief Fatih Birol

The effect of high oil prices will be compounded in Southeast Asia as demand is rising fast but production is falling, resulting in the region becoming a net importer of oil, gas and coal, Birol said.