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Tag Archives: international energy agency
Renewables power forward
Renewables power forward Renewable energy continues to outperform and outmuscle traditional sources of energy in the majority of countries across the globe. Renewables are now the cheapest power technology for new electricity generation across two-thirds of the world. This is the startling finding of a new study from an authoritative agency published earlier this month. […]
‘High’ Oil Prices Are Already Dampening Demand
‘High’ Oil Prices Are Already Dampening Demand Crude oil prices are affecting demand for the commodity negatively, the International Energy Agency’s head Fatih Birol told S&P Global Platts in an interview. “The higher oil price environment may, if they stay around this level, also have an impact…put some downward pressure under demand growth,” Birol said. The […]
THE COMING MIDDLE EAST OIL CRISIS: The Collapse Of Net Oil Exports
THE COMING MIDDLE EAST OIL CRISIS: The Collapse Of Net Oil Exports The Middle East is heading for a crisis in its oil industry. Unfortunately, the market doesn’t realize there is any danger on the horizon because it mainly focuses on how much oil the Middle East is producing rather than its exports. You see, […]
IEA 2018 World Energy Outlook: Peak oil is here, oil crunch by 2023
IEA 2018 World Energy Outlook: Peak oil is here, oil crunch by 2023 Preface. I’ve been working on a post about the latest IEA 2018 World Energy Outlook report, but the excerpts from the cleantechnica article below states most clearly why there is likely to be a supply crunch as soon as the early 2020s […]
IEA Chief: U.S. Oil Output To Near Saudi+Russian Production By 2025
IEA Chief: U.S. Oil Output To Near Saudi+Russian Production By 2025 Total U.S. oil production around 2025 will almost equal the combined production of Russia and Saudi Arabia, Fatih Birol, the Executive Director of the International Energy Agency (IEA), told Turkish state-run Anadolu Agency on Friday. The huge growth in U.S. shale production will completely […]
Shale Under Pressure As Oil Falls Below $50
Shale Under Pressure As Oil Falls Below $50 The OPEC+ cuts still are not doing very much to boost oil prices, dashing hopes for many U.S. shale producers. With companies in the process of formulating their budgets for 2019, the prospect of $50 oil sticking around raises questions about the heady production figures expected from […]
Keeping Some of the Lights On: Redefining Energy Security
Keeping Some of the Lights On: Redefining Energy Security Image: Camilla MP. What is Energy Security? What does it mean for a society to have “energy security”? Although there are more than forty different definitions of the concept, they all share the fundamental idea that energy supply should always meet energy demand. This also implies […]
IEA Chief Urges Oil Producers Not To Cut Output
IEA Chief Urges Oil Producers Not To Cut Output While OPEC is considering cutting oil production again, the executive director of the International Energy Agency (IEA), Fatih Birol, called on Monday for ‘common sense’ because fresh cuts could have negative effects on the oil market. “Currently markets are very well supplied but we should not […]
Is An Oil Supply Crunch Inevitable?
Is An Oil Supply Crunch Inevitable? Global oil demand will peak by 2040, according to a new report, although oil supply shortages could emerge before then. The International Energy Agency (IEA) published its highly-anticipated World Energy Outlook 2018 on Tuesday, one of the most important energy forecasting reports published each year. In this year’s Outlook, […]
The Rapid Acceleration Towards Peak Oil Demand
The Rapid Acceleration Towards Peak Oil Demand The drumbeat towards peak oil demand is accelerating, but since much of the acceleration is happening outside of the United States, its cadence is muted. To be clear, the developed world passed peak oil demand a decade ago and has for years been forecast to continue reducing its […]
IEA: Clean energy transition makes reforms ‘inescapable’ for oil states
IEA: Clean energy transition makes reforms ‘inescapable’ for oil states A changing energy system is posing “critical questions” for many of the world’s largest oil and gas producing countries, the International Energy Agency (IEA) says. The rise of shale gas and oil in the US, global improvements in energy efficiency, and the response to climate […]
Is The Oil Supply Glut Set To Return?
Is The Oil Supply Glut Set To Return? Is the oil market tightening too much or is a glut on the verge of making a comeback? There were a series of mixed messages from both OPEC and the IEA in recent days, offering a muddy outlook for the oil market. First was the TASS interview […]
Petro-States Face Extinction
Petro-States Face Extinction Petro-states urgently need to begin diversifying their economies, shifting away from oil production, or else they face financial risks in the years ahead. That conclusion comes from the IEA’s new report, “Outlook for Producer Economies,” which warns that a changing energy system threatens the economies of oil-producing countries. The threat comes in […]
BP CEO: $80 Oil Is Unhealthy For The World
BP CEO: $80 Oil Is Unhealthy For The World Oil prices at $80 a barrel are too high and unhealthy for the world today, Bob Dudley, the chief executive of UK supermajor BP, said on the sidelines of an event on Friday. “There’s a healthy price for oil and energy and I believe that balances […]
The Oil Markets Are At A Confusing Crossroads
The Oil Markets Are At A Confusing Crossroads The oil market is “adequately supplied for now,” but the supply losses from Venezuela and Iran leave the market suffering from “strain,” according to a new report from the International Energy Agency (IEA). The IEA noted that global oil production increased by 1.4 million barrels per day […]
