Commentary The International Energy Agency (IEA) is again demonstrating its usefulness in creating whips for Western governments to flagellate themselves with. Last time, it was their Net-Zero report, which recommended building no new fossil-fuel-fired power stations. Ever. It was released the day before Australia approved a new gas-fired power station. This time, it is the…
Global Climate Agencies Publish Dubious Emissions Calculations, Tighten the Noose Around Energy
July 17, 2023
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Renewable Energy Capacity to Nearly Double Over 5 Years: Report
December 6, 2022
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The world’s renewable energy capacity will jump by almost 75 percent in the next five years, the International Energy Agency (IEA) said on Tuesday, as countries turn to solar and wind power to curb their reliance on fossil fuels. This rapid growth, representing nearly 2,400 gigawatts of added capacity from 2022 to 2027, significantly exceeds…
Oil Markets Affected by Supply Squeeze and Fears of Recession
July 13, 2022
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Global oil markets are in a tough spot as recession fears and worries about supply push the sector into “walking a tightrope,” an International Energy Agency (IEA) report warned. Though a “resilient Russian supply” and weaker-than-expected oil demand growth in advanced economies have “loosened headline balances,” price tensions persist and refinery margins remain extreme, said…
Oil Prices Near 3-Week High as Supply Worries Dominate Market Sentiment
Crude oil prices were trading close to a three-week high on April 18 amidst fears of supply disruption due to the ongoing Ukraine crisis. Brent crude oil futures hit a high of $113.80 per barrel, a level unseen since March 30. U.S. West Texas Intermediate futures hit $105.55 per barrel, which was also the highest…
IEA Marginally Cuts Global Oil Demand Forecast on Mired Outlook Due to China COVID-19 Lockdown, Russia-Ukraine War: FT
April 14, 2022
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The International Energy Agency (IEA) has lowered its global oil demand forecast amid surging coronavirus cases in China and weaker than expected demand in the U.S. and other developed countries. According to the Financial Times report, The agency now expects demand to average 99.4 million barrels a day this year, down from its previous estimate…
Oil Prices Drop Amid China COVID-19 Worries, Reserve Release
April 12, 2022
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Brent crude oil fell below $100 per barrel on April 11 due to concerns about COVID-19 lockdowns lowering Chinese demand, as well as fresh supplies pouring into the market from global oil reserves. Brent oil futures were trading at $98.59 per barrel as of 16:08 coordinated universal time (12:08 p.m. Eastern time) on April 11,…
Oil Declines to Lowest Level Since March Following IEA Announcement, Lockdowns in China, and Strengthening Dollar
April 8, 2022
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Oil settled lower for a third straight session supported by the news of a coordinated effort by member states of the International Energy Agency (IEA) to release 60 million barrels into the global marketplace, renewed lockdowns in power-hungry China, indecision in Europe, and a strong dollar. Brent started April 6 trading at $106.16, and dropped…
IEA Releasing 60 Million Oil Barrels Into Market, Price Cools Down But Rises Slightly as Fears of Instability Persists
April 7, 2022
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The International Energy Agency (IEA) will release 60 million barrels of oil from its member nations into the global marketplace in an effort to cool down prices after the Russian invasion of Ukraine, following which, prices have risen and remain reluctant to lower. “The @IEA is moving ahead with a collective oil stock release of…
Global Energy Agency Proposes Car-Less Sundays to Help Reduce Oil Use
Adopting a 10-point plan that includes car-less Sundays would eliminate 2.7 million barrels of oil consumption per day within four months if fully implemented by advanced nations in response to Russia’s invasion of Ukraine, the International Energy Agency (IEA) claims. “If fully carried out in advanced economies, the measures recommended by the IEA’s new 10-Point Plan…
Global Energy Agency Proposes Carless Sundays to Help Reduce Oil Use
Adopting a 10-point plan that includes carless Sundays would eliminate 2.7 million barrels of oil consumption per day within four months if fully implemented by advanced nations in response to Russia’s invasion of Ukraine, according to the International Energy Agency (IEA). “If fully carried out in advanced economies, the measures recommended by the IEA’s new 10-Point…
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