Paris, France -- Global oil demand will be lower than previously forecast this year as rising trade tensions weigh on the economic outlook, the International Energy Agency said Tuesday. While US imports of oil, gas and refined products have been exempted from President Donald Trump's tariffs, his other levies have...

Paris, France -- World coal use is set to reach an all-time high in 2024, the International Energy Agency said Wednesday, in a year all but certain to be the hottest in recorded history.Despite calls to halt humanity's burning of the filthiest fossil fuel driving climate change, the energy watchdog expects...

New policies, public trust, and partnerships are crucial to accelerating these nuclear solutions. Platforms like the Forum’s Advanced Energy Solutions community bring together industry, investors, and governments to fast-track nuclear and clean energy technologies, informing policy and increasing public confidence, the author adds.

Paris, France -- The world is likely to have a "major surplus" of oil by 2030 as production is ramped up while the clean energy transition tempers demand, the International Energy Agency said in an annual report published Wednesday.Global demand is expected to "level off" at 106 million barrels per day...

According to the IEA, oil demand growth in Q1 2024 was lower than expected at 1.6 mln bpd, and the smallest since Q1 2023, due to unusually warm weather at the end of winter, which led to a greater decline in heating fuel consumption in OECD countries.

During his meeting with OPEC Secretary General Haitham Al Ghais, Albudaiwi praises the significant efforts of OPEC and its crucial role in maintaining the stability and balance of oil markets and addressing future challenges, in coordination with member states of the bloc.

"As the IEA celebrates its 50th anniversary this week, oil supply security remains as critical as ever," said the agency created half a century ago by the OECD to help rich countries weather the 1970s oil crisis which wreaked widespread economic havoc. "Given heightened geopolitical risks and low global oil...

The International Energy Agency said that the renewable energy capacity added to energy systems went up 50 percent in 2023, touching almost 510 gigawatts, with solar PV accounting for three-quarters of additions worldwide. Nearly 200 nations at the COP28 summit last month agreed to transition away from fossil fuels.

The latest forecast came after nearly 200 countries at the COP28 UN climate talks adopted a deal stating that the world will be "transitioning away from fossil fuels" to achieve net-zero emissions by 2050 and limit global warming. Coal is the largest energy-related source of the CO2 emissions responsible along...

Slowing demand growth and rising US crude production will make it more difficult for OPEC+ to continue to prop up prices, the IEA said on Thursday. The OPEC+ cartel, led by Saudi Arabia and Russia, has been restraining production to maintain prices but the latter have recently slumped due to...

"Renewable energy is key to our planet's future. It's time to phase out fossil fuels and embrace sustainable solutions. The fate of humanity depends on the decisions made at this COP. I urge you to take the lead. The fate of humanity hangs in the balance. Make this COP count,"...

"Renewable energy is key to our planet's future. It's time to phase out fossil fuels and embrace sustainable solutions. The fate of humanity depends on the decisions made at this COP. I urge you to take the lead. The fate of humanity hangs in the balance. Make this COP count,"...

Paris, France--Oil and gas producers face pivotal choices about their role in the global energy system amid a worsening climate crisis fuelled in large part by their core products, according to a major new special report from the IEA.The report shows how the industry can take a more responsible approach...

Paris, France--The International Energy Agency on Thursday called on oil and gas companies to devote half of their investments to clean energy by 2030, urging them to face a "moment of truth" at next week's COP28, the largest UN climate change conference ever held.The IEA urged producers to make the "pivotal...

Paris, France-- Achieving all national climate and energy goals will require adding or replacing 80 million kilometres of power lines by 2040 – an amount equal to the entire existing global grid – according to the International Energy Agency.Major changes to how grids operate and are regulated are also essential,...

The Paris-based agency, in addition to its analysis and advisory roles, coordinates the release of emergency stocks held by its 31 mostly advanced-economy member nations. A surprise weekend attack by Hamas on Israel has left thousands dead and rattled oil markets amid fears that other nations might intervene and possibly...

China's installed electrolyzer capacity has jumped significantly in recent years, and is expected to reach 1.2 gigawatts –- 50 percent of the global capacity -- after having accounted for just 10 percent of the global capacity in 2020. Electrolyzers are devices used for the industrial separation of hydrogen and oxygen...

The IEA said world oil demand remains on track to grow by 2.2 million bpd to 101.8 million bpd this year, partly due to resurgent Chinese consumption and jet fuel. But the extension of Saudi and Russian output cuts "will lock in a substantial market deficit" through the last three...

The market has raised prices in response to Saudi production cuts, anticipating tighter supplies. This shows producers' efforts to prevent oil prices from dropping significantly.

He was referring to a new IEA report which suggests that universal clean cooking access could be reached worldwide by 2030 with annual investment of US$8 billion. "This is just a tiny fraction of what the worlds spends on energy each year. Tackling this injustice is affordable and achievable," he...

"The shift to a clean energy economy is picking up pace, with a peak in global oil demand in sight before the end of this decade as electric vehicles, energy efficiency and other technologies advance," IEA Executive Director Fatih Birol said in a statement. "Oil producers need to pay careful...

PARIS, FRANCE -  Forty-five governments have endorsed doubling the average global rate of energy efficiency improvements by the end of the decade to foster sustainable economic growth.This will help put the world on a secure and affordable path towards net zero emissions."It’s hard to overstate the importance of energy efficiency...

Paris, France--Investment in clean energy across the world is expected to rise to US$1.7 trillion in 2023, with solar set to eclipse oil production for the first time, according to a report by the International Energy Agency.The report noted that Investment in clean energy technologies is significantly outpacing spending on...

The International Energy Agency (IEA) said that while the increasing investment in solar power is a welcome development. but investment in fossil fuels is rising when it should be falling fast to achieve net zero emissions by 2050. Investment in clean energy and fossil fuels was equal only five years...

Speaking on the sidelines of the Qatar Economic Forum, Saudi Arabia's Minister of Energy Prince Salman said OPEC+ pursued three goals of vigilance, initiative and proactiveness. He added that the inaccurate forecasts of the International Energy Agency led to price volatility in the energy market last year and in the...

Al Jaber's call marked a public endorsement of a target laid out by the International Energy Agency. Last month at a closed-door meeting with G7 leaders in Japan, he had also raised the target. At the same time, he did not call for a complete end to the use of...

His remarks came after the IEA Executive Director, Fatih Birol, criticized OPEC+ for their unexpected decision to reduce oil output by 1.66 million barrels per day from May until the end of 2023. Birol labeled finger-pointing and misrepresenting the actions of OPEC and OPEC+ as "counterproductive."

The International Energy Agency (IEA) said the rapid electrification of road transportation will have big implications for the energy industry as it will eliminate the need for five million barrels of oil per day by the end of the decade. World oil consumption averages just over 100 million barrels per day.

Moscow, Russia--Russian oil sales to India surged more than twentyfold last year as European buyers turned to other markets following the conflict in Ukraine, Russia's deputy prime minister said Tuesday.Russia shifted its oil exports to India and China last year as European Union nations sought to end their reliance on Russian...

"The impacts of the energy crisis didn't result in the major increase in global emissions that was initially feared –- and this is thanks to the outstanding growth of renewables, EVs, heat pumps and energy-efficient technologies," IEA executive director Fatih Birol said.

Demand is expected to reach 101.9 million barrels per day on average in 2023, an increase of two million barrels per day from last year, the IEA said. It would be up 1.4 million barrels a day from the pre-pandemic level in 2019 as consumption of fossil fuels behind global...

IEA Executive Director Fatih Birol said the measures taken following Russia's invasion of Ukraine helped European nations whether Russia cutting off most of its gas supplies. The IEA said the meeting is expected to identify and endorse measures to improve the balance between gas supply and demand.

With activity in China unlikely to pick up in earnest until after the Lunar New Year holiday, the prospect of a lull in activity could be the trigger for a pause in the current rally – especially across industrial metals where copper has started the year with an 11% gain,...

The US Inflation Reduction Act signed by President Biden last year, is the most significant climate pact since the Paris Agreement in 2015, says IEA Executive Director Fatih Birol.

The global market for key mass-manufactured technologies including solar panels, wind turbines, electric vehicle batteries, heat pumps and electrolyzers for hydrogen will be worth around $650 billion a year by the end of the decade, the IEA predicted in a report.

The increase brings total amount of investment support that governments have allocated to clean energy to $1. 215 billion.

Paris, France— The energy crisis is fuelling an acceleration of the rollout of renewable power, raising hopes for efforts to meet ambitious targets against global warming, the International Energy Agency said Tuesday. Total renewables capacity worldwide is set to almost double in the next five years and overtake coal as the...

PARIS, FRANCE - Russia's invasion of Ukraine has driven countries across the world to boost energy efficiency, creating "huge potential" to tackle high prices, security and climate change, the IEA said on Friday. Governments have scaled up fossil fuel subsidies to cushion the impact of rising energy costs on households...

Europe must act immediately to prevent a shortage of natural gas next year as Russia slashes deliveries in the wake of the Ukraine war, the International Energy Agency warned. The IEA said the shortfall would occur if Russia stops pipelines deliveries completely and China steps up its imports of liquefied...

Owing to surging energy prices fueled largely by the Russian invasion of Ukraine, the IEA feels global emissions will peak in 2025 as investment in renewables has grown in the recent months. Last year, the IEA had said there was "no clear peak in sight" in energy emissions.

The International Energy Agency has said that global carbon dioxide emissions from fossil fuel combustion will grow just one percent this year despite concerns that the energy crisis could lead countries to slow their transition to renewables. The IEA predicted CO2 emissions would stand at 33.8 billion tonnes in 2022.

More efforts are required to make the world reach net zero emissions by mid-century, according to the International Energy Agency's (IEA) latest appraisal of global progress on clean energy technologies.

In addition, demand in China continues to linger after the IEA said the world's largest importer of oil was heading for its biggest annual drop in demand in more than three decades. Meanwhile, the US walked back on its SPR refill stance by saying that it didn’t include a strike...

Indonesia has a viable path to reaching its target of net zero emissions by 2060, bringing major benefits to its citizens in the process such as more secure and affordable energy supplies, according to a new IEA report.

Many believe Russian President Vladimir Putin is using energy supplies as a strategic weapon to put pressure on nations that have applied sanctions against Moscow for its invasion of Ukraine.

Global oil demand will rise more than previously forecast this year as heatwaves and soaring gas prices are prompting countries to switch fuels for power generation, the International Energy Agency said Thursday. Oil prices have dropped by $30 per barrel from a peak in June due to growing supplies and...

The agency said renewable sources of energy were growing faster than demand and replacing fossil fuels.

The Paris-based agency cautioned that the global economic recovery could be derailed unless governments take measures to reduce consumption and fuel prices that pose a threat to stability in some nations. Oil prices have surged from around $80 per barrel earlier this year to over $120 at times.

Gas consumption will contract slightly this year due to high prices and Russian cuts to Europe, with only slow growth over coming years as consumers switch to alternatives, the IEA said Tuesday.

The International Energy Agency (IEA) has said that G7 economies are well placed to be first movers on driving down carbon dioxide emissions from heavy industry.