Posts filtered by tags: International Energy Agency[x]


 

‘Missing Barrels’ Could Make Oil Prices Soar Even Higher - Bloomberg

‘Missing Barrels’ Could Make Oil Prices Soar Even Higher - Bloomberg Where did all the oil go? According to the latest estimates, the world should still be awash in oil stockpiles built up during the pandemic. But that’s not what the actual data on oil supplies show.The International Energy Agency’s latest report, published on Wednesday, shows that, if their supply-and-demand numbers are right, the world’s oil stockpiles are about 660 million barrels higher than they were before the pandemic —...
Tags: Travel, Saudi Arabia, Russia, Opec, Bloomberg, International Energy Agency, Rupert Neil Bumfrey


Morgan Stanley just raised its outlook for oil prices to $100 per barrel by the 3rd quarter. Here's why.

Getty Images Morgan Stanley just raised its outlook for oil prices on the back of a "triple deficit" for the commodity. The bank said it now sees Brent crude oil jumping to $100 per barrel by the third quarter of this year. Brent crude dropped as much as 0.78% to $87.69 or barrel as of noon ET on Friday. Sign up here for our daily newsletter, 10 Things Before the Opening Bell. Morgan Stanley on Friday raised its outlook for oil prices on the back of a "triple deficit" for the commodity — low ...
Tags: Oil, Trends, Markets, Brent, Goldman Sachs, Wti, Morgan Stanley, Jpmorgan, International Energy Agency, Morgan Stanley Oil, Brent Crude Oil, US Russia, Oil & Gas, Brent crude oil price, WTI oil price, Wti Oil


OPEC+ Alone Cannot Solve World’s Oil-Supply Issues, #UAE Says - Bloomberg

OPEC+ Alone Cannot Solve World’s Oil-Supply Issues, UAE Says - Bloomberg OPEC and its allies are increasing oil production but can’t solve all the sector’s issues alone, the United Arab Emirates’ energy minister said.The industry needs investment, through the involvement of international oil companies, in order to provide adequate supplies, Suhail Al-Mazrouei said, according to the UAE’s state-run WAM news agency. Failure to provide sufficient capital may lead to future price hikes, he warned....
Tags: Travel, London, Wam, Opec, Bloomberg, United Arab Emirates, Uae, International Energy Agency, Suhail Al Mazrouei, Rupert Neil Bumfrey, Mazrouei, Bloomberg OPEC


Oil Traders Plow Half a Billion Barrels Back Into Crude Market - Bloomberg

Oil Traders Plow Half a Billion Barrels Back Into Crude Market - Bloomberg Money is gushing back into oil. While total holdings in the main oil and fuel futures contracts collapsed late-last year, the first few days of 2022 have seen almost 500,000 contracts added to the oil market. That’s the equivalent of almost half a billion barrels, a sign that the new year has begun with a flurry of liquidity in the crude market. The burgeoning flows underpin a resurgence in Brent crude prices back...
Tags: Travel, London, International Energy Agency, Rupert Neil Bumfrey


Global surge in electricity use could bring three more years of price rises

International Energy Agency says pollution from power generation will worsen until alternatives are foundThe global surge in demand for energy could spark another three years of market volatility and record power plant pollution unless countries make major changes to how they generate electricity, the world’s energy watchdog has warned.The International Energy Agency recorded the steepest ever increase in electricity demand last year, which triggered blackouts in major economies and led to histo...
Tags: Energy, Business, China, Environment, World news, Household bills, Consumer affairs, Energy industry, Energy Bills, International Energy Agency


Oil prices are going to $90 per barrel in the 2nd half of this year on the back of a 'triple deficit' for the commodity, Morgan Stanley says

Getty Images Oil prices will continue to rise in the second half of 2022 on the back of a "triple deficit," Morgan Stanley said. The bank sees the price of Brent crude oil hitting $90 per barrel by the second half of this year. Brent crude hovered near two-month highs Wednesday, trading at $84.96 per barrel. Sign up here for our daily newsletter, 10 Things Before the Opening Bell. Oil prices will continue to rise in the second half of the year on the back of a "triple deficit" — low inventori...
Tags: US, Trends, Opec, Bloomberg, IEA, Brent, Rats, Morgan Stanley, International Energy Agency, Petroleum Exporting Countries, US Energy Information Administration, Commerzbank, Fatih Birol, Carsten Fritsch, Getty Images Oil, Isabelle Lee


Energy Monitor Blames Russia for Worsening Europe Gas Crisis

The head of the International Energy Agency has blamed Russia for worsening Europe’s natural gas crisis.
Tags: Europe, Russia, International Energy Agency, Worsening Europe Gas Crisis


Energy Monitor Blames Russia for European Gas Crisis

The head of the International Energy Agency has blamed Russia for much of Europe’s natural gas crisis.
Tags: Europe, Russia, International Energy Agency


Uranium and oil prices have spiked as Kazakhstan's political upheaval spurs fears about reduced production and supply chain disruptions

The mayor of Almaty's office seen ablaze in Almaty, Kazakhstan, on January 5, 2022.Valery Sharifulin\TASS via Getty Images Kazakhstan's government resigned after a week of social unrest, but turmoil in the country has intensified. Uranium and crude oil prices have spiked in the wake of the country's political upheaval. Oil-rich Kazakhstan produces 40% of the world's uranium supply. Prices of uranium and crude oil have spiked as social unrest in Kazakhstan has created fears abou...
Tags: Toronto, Trends, Bbc, Kazakhstan, Chevron, Platts, Reuters, Almaty, International Energy Agency, Interior Ministry, Almaty Kazakhstan, Kazatomprom, Valery Sharifulin, Huileng Tan, Getty Images Kazakhstan, John Ciampaglia


The world could burn a record amount of coal next year despite efforts to scrap the dirtiest fossil fuel

Rising consumption in China, India and the United States could bring global coal-fired power demand to a new all-time high, undermining efforts to cut greenhouse gas emissions, the International Energy Agency said.
Tags: Cnn, United States, China India, International Energy Agency


Global demand for coal could hit all-time high in 2022

Electricity from coal plants has risen by 9% this year to fuel economic recovery from Covid, says watchdogCoal power is on track to hit a new global record this year after an economic rebound that could drive worldwide coal demand to an all-time high in 2022, according to the International Energy Agency.The amount of electricity generated from coal power plants has soared by 9% this year after a surge in fossil fuel demand to fuel the recovery from Covid lockdowns, a report by the watchdog says....
Tags: Energy, Business, Utilities, Environment, World news, Coal, Fossil Fuels, International Energy Agency, Coronavirus, COVID


Oil Falls Further on Looming Surplus, China Demand Constraints - Bloomberg

Oil Falls Further on Looming Surplus, China Demand Constraints - Bloomberg PRICES: West Texas Intermediate for January delivery dropped 1.1% to $69.93 a barrel at 8:32 a.m. local time after falling 0.8% on Tuesday.Brent for February settlement slumped 1% to $72.98 a barrel.Brent’s prompt timespread was at 8 cents a barrel in backwardation after briefly flipping into contango on Tuesday. Oil declined for a third day as global markets tip into a supply surplus, with demand pressured by th...
Tags: Travel, New York, China, Bloomberg, International Energy Agency, Rupert Neil Bumfrey, Stephen Brennock, PVM Oil Associates Ltd


US stock futures struggle in countdown to Fed decision, while oil slips as Omicron cases surge

New York Stock Exchange on Nov. 20, 2018.Xinhua/Wang Ying via Getty Images US stocks wavered Wednesday ahead of the Fed's policy decision at the end of its two-day meeting. Analysts expect the US central bank to accelerate the pace of tapering its bond-buying program. Oil prices slid in the wake of the IEA's warning that surging COVID-19 cases will dent demand. US stock futures struggled to find direction Wednesday, as investors waited to see whether red-hot inflation and the fast-spr...
Tags: Europe, UK, London, US, Trends, Opec, Bank Of England, European Central Bank, Frankfurt, IEA, Deutsche Bank, World Health Organization, Tokyo, West Texas Intermediate, New York Stock Exchange, Federal Reserve


Oil Extends Losses on Omicron Spread Uncertainty, China Demand - Bloomberg

Oil Extends Losses on Omicron Spread Uncertainty, China Demand - Bloomberg PRICES: West Texas Intermediate for January delivery dropped 1.3% to $69.83 a barrel at 2:04 p.m. in Singapore after falling 0.8% on Tuesday.Brent for February settlement slumped 1.1% to $72.86 a barrel.Brent’s prompt timespread was at 7 cents a barrel in backwardation after briefly flipping into contango on Tuesday. Oil declined for a third day as further restrictions were imposed to counter the spread of the ...
Tags: Travel, New York, China, Singapore, Oil, Beijing, Paris, International Energy Agency, Rupert Neil Bumfrey, Omicron Spread Uncertainty China Demand Bloomberg


Oil Slides on Global Surplus as Omicron Stokes Demand Fears - Bloomberg

Oil Slides on Global Surplus as Omicron Stokes Demand Fears - Bloomberg PRICES: West Texas Intermediate for January delivery fell 56 cents to settle at $70.73 a barrel in New YorkBrent for February settlement dropped fell 69 cents to settle at $73.70 a barrel Oil fell as the International Energy Agency said the global oil market has returned to surplus, while some countries tightened restrictions in an effort to tame the omicron variant’s spread.Futures in New York closed down 0.8% ...
Tags: Travel, New York, Scotland, European Union, Italy, IEA, International Energy Agency, Rupert Neil Bumfrey, Omicron Stokes Demand Fears Bloomberg


IEA sees Philippines at top 5 global biofuel importer by 2026

In the Philippines, BusinessWorld reports that International Energy Agency data shows the country will become one of the top five biofuel importers globally in the next five years as its sugar industry shrinks. Although domestic sugar mills produce ethanol, it costs nearly twice as much as landed ethanol, typically from the US. The E10 blending mandate establishes quarterly quotas of domestic ethanol that must be used, depending on availability, while the rest of the volume is supplied by import...
Tags: US, Philippines, IEA, International Energy Agency, Fuels, Philippines BusinessWorld


The CEO of the world's largest oil producer said the oil industry must play a role in energy transition to avoid 'energy insecurity, rampant inflation, and social unrest'

Anton Petrus/Getty Images Saudi Aramco CEO Amin Nasser said the energy system can't be transformed overnight. Nasser told CNBC that the industry needs an "orderly transition." Energy prices have risen rapidly this year on the back of the global economic recovery. The world's largest oil producer has warned of runaway inflation and social unrest should investment in fossil fuels taper off too quickly in the world's transition to green energy. Saudi Aramco CEO Amin Nasser made t...
Tags: US, Trends, European Union, IEA, Copenhagen, Cnbc, Reuters, Saudi Aramco, International Energy Agency, Nasser, Houston Texas, Frans Timmermans, Fatih Birol, Nassir, Timmermans, Amin Nasser


Renewables are being installed at top speed -- but still far too slow to fix the planet, energy watchdog says

The International Energy Agency reports renewable energy growth is set to hit an all-time record this year.
Tags: Cnn, International Energy Agency


IEA reports compares different pathways for CCUS

In France, the International Energy Agency has released a report comparing different pathways for carbon capture, use and storage. The reports shows: • Almost all CCU routes showed potential for lower life cycle emissions per ton of product compared to their counterfactual. The potential scale for deployment was much greater for fuels and building materials than for chemicals and polymers, which typically had existing markets orders of magnitude smaller.   • For fuels, annual abatement lev...
Tags: France, US, Eu, IEA, International Energy Agency, CCUS, Fuels


The post-COP26 state of coal

Environmental organisations say that COP26 ended with ​​90 new coal power projects, worth a total of 88GW, are likely to be cancelled The post The post-COP26 state of coal appeared first on The Mail & Guardian.
Tags: Climate Change, Environment, Global Warming, Coal, Fossil Fuels, Carbon Emissions, Dave Jones, International Energy Agency, University of Cape Town, EmbeR, Climate Crisis, Top Six, Groundwork, Centre for Research on Energy and Clean Air, Integrated Resource Plan, Cop26


Electric vehicles won't save us — we need to get rid of cars completely

Electrifying heavy cars like trucks and SUVs causes other issues like air pollution and traffic deaths.Insider World leaders are focusing on electric vehicles to reduce emissions and combat the climate crisis.  But electrifying vehicles is simply not enough — especially given their large production footprint.  To really make a difference, we need smaller cars, less cars, and more transportation alternatives.  Paris Marx is the host of the Tech Won't Save Us podcast and author of the forth...
Tags: Trends, Canada, United States, Glasgow, Silicon Valley, North America, Biden, Quebec, Latin America, International Energy Agency, International Transport Workers Federation, World Energy Outlook, Paris Marx


A key oil price indicator turned bearish for the first time in weeks as watchdog signals oversupply possible

Getty Images Oil prices slipped to their lowest level in almost six weeks amid indications that more supply is on the way. Inventories at the main delivery hub for US oil futures saw their first weekly increase after five straight declines.  The IEA forecast earlier that it sees US producers ramp up their oil production. Sign up here for our daily newsletter, 10 Things Before the Opening Bell. US oil prices slipped to their lowest in more than a month Wednesday amid a growing number of indica...
Tags: China, US, Trends, Opec, Bloomberg, Joe Biden, Xi Jinping, IEA, Wti, Biden, Ftc, International Energy Agency, Energy Department, Cushing Oklahoma, Federal Trade Commission Chair, OANDA


Gas Price Relief Looks To Be On The Horizon As Global Oil Supply Picks Up, Experts Say

(CNN/CBS13) — A rise in global crude oil supply could put the brakes on surging gasoline prices that have hit record levels in California. According to the International Energy Agency’s latest market report, global oil supplies jumped by 1.4 million barrels per day in October, with the United States accounting for half that increase as Gulf of Mexico output recovered from the damage caused by Hurricane Ida in August. The Paris-based agency said it expected a further boost of 1.5 million barrels ...
Tags: Europe, News, California, China, India, Oil, US, Opec, Joe Biden, Cnn, United States, United Kingdom, Paris, IEA, Gas Prices, Gulf of Mexico


New Global Methane Pledge Can Buy Time While World Drastically Reduces Fossil Fuel Use

This article is part of TPM Cafe, TPM’s home for opinion and news analysis. It first appeared at The Conversation. There were four big announcements during the first week of COP26, the U.N. climate conference in Glasgow: on coal, finance, methane and deforestation. Of those four, the global methane pledge could have the most immediate impact on Earth’s climate – provided countries follow through on their pledges and satellite monitoring works as effectively as advertised. More than 10...
Tags: News, China, Russia, US, Barack Obama, European Union, Earth, Paris, Glasgow, Biden, George W Bush, Cafe, International Energy Agency, Intergovernmental Panel, Jeff Nesbit, Yale University This


LNG News for November 7, 2021: #Qatar Orders 6 Gas Ships - Bloomberg

LNG News for November 7, 2021: Qatar Orders 6 Gas Ships - Bloomberg Qatar has ordered six liquefied natural gas ships from South Korea as it pushes ahead with a multi-billion dollar project to boost production of the fuel.The world’s biggest LNG exporter is buying four vessels from Daewoo Shipbuilding & Marine Engineering and two from Samsung Heavy Industries, state producer Qatar Energy said Sunday. They’re the first batch of orders under a $19 billion deal signed between Qatar and Korean shi...
Tags: Travel, South Korea, Europe, Japan, China, Samsung, Qatar, Bloomberg, International Energy Agency, Persian Gulf, Samsung Heavy Industries, Rupert Neil Bumfrey, Qatar Energy, Gas Ships Bloomberg Qatar, Daewoo Shipbuilding Marine Engineering, Daewoo Hyundai Heavy Industries Co


Hertz CEO says his record-breaking $4.2 billion Tesla buy was inspired by electric vehicles going 'mainstream' as consumer demand for EVs rises

Hertz Interim CEO Mark Fields. REUTERS/Brendan Mcdermid Hertz Interim CEO Mark Fields spoke with Morning Brew about the company's latest electric vehicle purchase. The once-bankrupt car rental company announced on Monday it bought 100,000 Teslas for $4.2 billion. "Electric vehicles are now mainstream, and we've only just begun to see rising global demand and interest," Fields said. Hertz Interim CEO Mark Fields is shedding light on why the once-bankrupt car rental agency has decide...
Tags: Transportation, Electric Vehicle, Europe, Elon Musk, News, Interview, Cars, US, Trends, Tesla, Bloomberg, Mark Fields, Rental Cars, North America, Electric, Hertz


The insurance industry needs to stop funding fossil fuels and lead on the transition to clean energy, says COP26 panel

It's getting harder for plants like this to get insurance and funding. Enviromantic/Getty Images For decades, the insurance industry has invested and assessed risk for fossil fuel companies. These investments and insurance policies have helped fossil fuel companies grow and expand. Some insurance companies have sold off their fossil fuel assets, but others continue to invest. Insurance is seen as a measure of protection against the worst-case scenarios, like fire, flooding, and severe ...
Tags: Trends, Atlantic, Arctic, Glasgow, International Energy Agency, United Nations Climate Change Conference, Intergovernmental Panel, World Energy Outlook, Karen K Ho, UN s Net Zero Asset Alliance, Joseph Sikulu, Sikulu


The global energy crisis has 4 possible paths through early 2022, says Bank of America

Getty Images The worldwide energy crisis unfolding has thrown markets into unprecedented turmoil. In Europe, natural gas prices are at record highs. And in China, thermal coal futures are also at all-time highs. Francisco Blanch of Bank of America provided Insider with four possible paths through early 2022. Sign up here for our daily newsletter, 10 Things Before the Opening Bell. The worldwide energy crisis unfolding amid a surge in demand and an ongoing supply crunch has thrown the oil...
Tags: Asia, Europe, China, US, Trends, Bank Of America, Federal Reserve, Francisco, International Energy Agency, US Energy Information Administration, Francisco Blanch, Isabelle Lee


US oil hits highest since OPEC began price war against shale producers

Getty Images US oil prices hit a new seven-year high amid a surge in global demand and a supply crunch. The price of WTI crude oil is now at the highest level since OPEC began a price war against shale producers. Meanwhile, the price of Brent crude oil reached a fresh three-year high, inching above $85 on Friday. Sign up here for our daily newsletter, 10 Things Before the Opening Bell. US oil prices hit a fresh seven-year high on Friday amid a surge in global demand and an ongoing supply...
Tags: US, Trends, Bank Of America, Opec, Biden, International Energy Agency, Organization of the Petroleum Exporting Countries, OANDA, Edward Moya, Isabelle Lee


Peak Oil is Coming. That Won't Save the World

The shift to clean energy is sending the oil industry into decline. But the world needs a much more ambitious plan to save the climate and achieve net-zero emissions by 2050. From a report: That's according to the International Energy Agency, which said in its global energy outlook published Wednesday that more aggressive climate action is needed as world leaders prepare for the crucial COP26 summit in Glasgow in November. "The world's hugely encouraging clean energy momentum is running up again...
Tags: Tech, European Union, Glasgow, International Energy Agency, Save the World, Fatih Birol