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Tag Archives: International Energy Agency

Oil prices hit by downward revision to global oil demand

global oil production

LONDON (AP) — Oil prices took a pounding Tuesday after a leading industry group said global oil demand growth is slowing by more than previously thought, largely because of a more pronounced economic slowdown during the third quarter of the year. In its September oil market report, the Paris-based International Energy Agency reduced its forecast for global demand growth to ...

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High supplies seen capping oil prices until early 2017

High supplies seen capping oil price until early 2017

PARIS (AP) — A glut of oil will keep prices from rebounding until next year, much later than previously forecast, experts at the International Energy Agency said Monday. A year ago, the IEA, a Paris-based organization of 29 major oil importing nations, had forecast a “relatively swift” recovery. Instead, oil prices have continued to fall, reaching a level below $30 ...

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Oil supply seen outpacing demand, capping price

Oil supply seen outpacing demand, capping price

PARIS (AP) — The International Energy Agency says oil supply is set to outpace demand this year, keeping a lid on any expected price increases. The organization, which advises countries on energy policy, said in its monthly report Tuesday that global excess supply may reach 2 million barrels per day during the first quarter, and a further 1.5 million barrels ...

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UN chief wants clean energy investments doubled by 2020

UNITED NATIONS — The U.N. secretary-general on Wednesday challenged investors around the world to at least double their investments in clean energy by 2020, saying that “we must begin the shift away from fossil fuels immediately.” Ban Ki-moon told an investor summit on climate risk that increasing investment in clean energy is critical in following up on the landmark agreement ...

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IEA: Oil prices may fall further this year

Oil prices may fall further this year, the IEA says

NEW YORK — The International Energy Agency says oil prices may fall further this year due to low demand, warm winter weather and an oversupply of crude. The organization, which advises countries on energy policy, said in its monthly report Tuesday that global excess supply may reach 1.5 million barrels per day during the first half of the year. “Unless ...

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