Tag Archives: IEA

US, IEA Agree to Release 60 Million Barrels From Oil Stockpiles Amid Ukraine’s CrisisThe US and other major oil-consuming nations said Tuesday they willl release 60 million barrels of oil from their emergency stockpiles, sending a jolt of new crude supplies into the market amid a price surge caused by …

WTI crude futures are currently trading above a key area of support in the USD 70.00 region, a psychologically important level that also coincides with WTI’s 200-day moving average (which resides at USD 70.37). In recent trade, WTI dipped under the USD 70.00 level and the 200DMA to print session …

The International Energy Agency said that oil prices are unlikely to rise sharply and continuously, despite the expectation that demand will be supported by vaccines later in the year, as the world is still awash with oil. She added in her monthly report, “The great rise of oil to close …

The International Energy Agency said today, Thursday, that global oil supplies are still exceeding demand due to the continuing general isolation measures aimed at combating the Coronavirus and the spread of its strains, but vaccines should help to recover demand and quickly allow producers to pump more. The Paris-based Energy …

An analyst from the International Energy Agency announced that global gas demand is expected to grow by 2.8% this year, equivalent to about 110 billion cubic meters, to recover towards 2019 levels. The expected recovery will not be significant and that the more mature markets will only see a gradual …

The International Energy Agency (IEA) cuts its expectations for the global demand for crude oil during 2021 by 280,000 barrels per day (b/d) to 5.5 million b/d, according to the monthly report released on Tuesday. A decline of 600,000 b/d is expected during the first quarter (Q1) of the year, …

The International Energy Agency has warned that the start of vaccination campaigns to prevent Coronavirus this month will not quickly reflect the devastation inflicted on global oil demand. “The understandable euphoria around the start of vaccination programmes partly explains higher prices but it will be several months before we reach …

The International Energy Agency said that the permanent shutdowns of refining capacity expected in 2020-2021 rose to about 1.7 million barrels per day in light of the Covid-19 pandemic striking demand for oil products. The agency added that the past few months have witnessed the announcement of the closure of …

The International Energy Agency said that it is unlikely that global oil demand will receive a big boost from the distribution of vaccines to prevent infection with Covid-19 before late 2021, in a view that is likely to dampen the oil price gains made since the announcement of progress on …

The International Energy Agency reduced its forecast for oil demand this year, indicating caution about the pace of the economic recovery from the Corona pandemic. The Paris-based agency lowered its forecast for 2020 by 200,000 bpd to 91.7 million bpd, the second cut of its oil demand forecast in several …