Wednesday 22 October 2014
 
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IEA

Oil plunges to 4-year low after IEA cuts forecast

Brent crude fell almost three per cent to a fresh low near $86 a barrel on Tuesday, trading at its weakest level since 2010 after the West's energy watchdog cut its estimates for oil demand this year and next. The global oil b

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IEA sees 2015 oil demand growth much lower, supply hitting prices

Demand for oil in 2015 will grow far slower than previously forecast as global economies remain weak, the International Energy Agency (IEA) said, and prices may extend their sharp fall so long as Opec shows no sign of countering a supply surge

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Nearly 3pc of global output vulnerable if oil falls to $80

Nearly 3 per cent of global oil production is vulnerable to cuts if prices fall to $80 per barrel, making some projects in Canada, Angola, Brazil and Norway unprofitable, the International Energy Agency (IEA) said.  

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Oil falls below $88 after IEA cuts demand forecasts

Brent crude fell below $88 a barrel on Tuesday, returning to a nearly four-year low hit the day before, after the world's energy watchdog cut its estimates for oil demand this year and next. The global oil benchmark has droppe

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Price slump yet to hit US shale oil: IEA

The vast majority of shale oil in the US is produced at costs far below the current price of crude, the head of the west's energy watchdog said, which means US projects can withstand the market slump squeezing other producers.

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Increase in Iran oil storage to increase export flexibility

A substantial increase in Iranian oil storage capacity will give the sanctions-hit country more flexibility to export crude, the International Energy Agency (IEA) said.   The US and the European Union have impose

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Oil hits two-year low below $97 as supplies build

Brent crude dropped to a two-year low below $97 a barrel on Thursday, falling for a sixth straight session as worries over mounting supply and weak demand outweighed concerns that conflicts in the Middle East could curb oil production.

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Global renewable energy expansion to slow to 2020: IEA

Last year power capacity from sources such as wind, solar or hydro expanded at its fastest pace to date, putting renewables on a par with natural gas at almost 22 per cent of global electricity generation.   Howe

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Oil market well supplied despite conflicts: IEA

Huge rises in oil production from North America are keeping oil markets increasingly well supplied, the West's energy watchdog said on Tuesday, suggesting oil prices are unlikely to rise much soon despite conflicts near key oil producing are

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US must decide on crude export ban: IEA chief

The United States must decide soon whether to overturn its nearly 40-year ban on oil exports or it risks inhibiting output from the domestic drilling boom, the executive director of the International Energy Agency said on Tuesday.

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