By Irina Slav – Jul 12, 2022, 9:00 AM CDT The IEA’s Executive Director Fatih Birol is warning that the global energy crunch could worsen. The top man of the IEA noted the whole global energy system was in turmoil following Russia’s invasion of Ukraine. “The world has never witnessed such a major energy crisis … Read more
Daily roundup of research and analysis from The Globe and Mail’s market strategist Scott Barlow Like Scotiabank Monday, Credit Suisse analyst Manav Gupta thinks now is the time to add energy stocks. Mr. Gupta also provided a list of top picks which includes two Canadian stocks, “We continue to believe that in a post Russia-Ukraine … Read more
Global energy investment is on the rise and expected to grow by 8 percent annually this year, pushed up by record spending on clean energy, the International Energy Agency (IEA) said in its new report World Energy Investment 2022. On the face of it, that’s great news for global energy supply and climate goals. But … Read more
Oil demand growth is set to accelerate next year, with global demand averaging a record 101.6 million barrels per day (bpd) and exceeding pre-COVID levels, the International Energy Agency (IEA) said on Wednesday in its first outlook for 2023. “While higher prices and a weaker economic outlook are moderating consumption increases, a resurgent China will … Read more
Member countries of the International Energy Agency will be releasing a total of 182.7 million barrels of oil from emergency stocks over six months, of which 74 percent will come from public stocks and the remaining 26 percent from lowering of national stockholding obligations set on industry, the IEA said on Friday in an update … Read more
This week saw some good news finally for oil consumers. Both OPEC and the International Energy Agency revised down their demand projections, suggesting that prices finally had some meaningful downward potential. But OPEC stands ready to change track. “Severe new lockdown measures amid surging Covid cases in China have led to a downward revision in … Read more
Oil prices remained fairly stable this week, with ICE Brent balancing slightly above the $100 per barrel mark. Fears of Russian supply disruptions were temporarily put on the back burner by the vast IEA-coordinated inventory release that greatly helped in flattening out the future curves of all three key crude benchmarks. The extensions of COVID … Read more
The members of the International Energy Agency (IEA) have agreed to release 120 million barrels of crude oil, according to Bloomberg. But 60 million barrels of that 120 million has already been accounted for as part of the 180 million barrel SPR release that the Department of Energy made last week. Between the IEA and … Read more
Reader Update: Whether you are new to the oil and gas industry or an energy market veteran, you will regret not signing up for Global Energy Alert. Oilprice.com’s premium newsletter provides everything from geopolitical analysis to trading analysis, and all for less than a cup of coffee per week. Chart of the Week – By … Read more
This week, the Biden administration revealed that it will release as much as 180 million barrels of crude oil in a bid to calm oil prices, which have remained above $100 per barrel for an extended period of time. The International Energy Agency, meanwhile, is coordinating a smaller but international reserve release of some 60 … Read more
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