Global natural gas demand is set to expand at a slower pace over the coming years, with most of the growth coming from China and other emerging Asian markets, the International Energy Agency (IEA) said Tuesday. In its latest medium-term gas market forecast, the global energy watchdog said it expects worldwide demand to rise every…
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Renewables to Overtake Coal as World’s Top Source of Electricity, with Natural Gas to Endure, Says IEA
Renewable sources of energy are collectively on track to eclipse coal as the world’s leading source of electricity, with capacity growth forecast to nearly double in the next five years, the International Energy Agency (IEA) said in a new report. IEA’s Renewables 2022 report forecasts that abundant energy drivers such as wind and solar will…
December 20, 2022
IEA says Energy Markets Changed ‘for Decades to Come,’ Sees Fossil Fuels Declining by mid-2020s
Amid a “profound reorientation” in international energy markets due to a supply disruption following Russia’s invasion of Ukraine, global demand for natural gas, coal and oil is expected to peak or plateau by the mid-2030s, the International Energy Agency (IEA) said Monday. In its annual World Energy Outlook (WEO-2022), the IEA said the global energy…
November 1, 2022
Natural Gas Supply Shortages Could Test Market for Years, IEA Says
Liquefied natural gas (LNG) production outages broke records last year and combined with upstream underperformance to limit supplies and tighten the global market in a way that could worsen over the coming years, the International Energy Agency said Monday. The total LNG volume lost to planned or unplanned outages was 53 billion cubic meters (Bcm)…
February 1, 2022
OPEC-Plus Shrugs Off Omicron, Moves to Pump More Oil
A coalition of major oil producing countries agreed on Tuesday to further boost output to meet expectations for strong demand, despite concerns about the rapidly spreading Omicron variant of the coronavirus. Policymakers from the Organization of the Petroleum Exporting Countries (OPEC), headed by Saudi Arabia, and a Russia-led group of allies known as OPEC-plus, said…
January 4, 2022
Surging Coronavirus Cases Expected to Slow Global Oil Demand
Rising coronavirus cases driven by the new Omicron variant are expected to curb but not derail a global recovery in oil demand, the International Energy Agency (IEA) said Tuesday in its latest Oil Market Report for December. IEA noted that cases are climbing across many regions of the world in the wake of Omicron outbreaks…
December 14, 2021
Increased U.S. Crude Output, ‘New Covid Waves’ Could Balance Market, Curb Prices
Rising U.S. production – and expectations for more to the end of the year – could soon balance supply/demand and curb soaring oil prices, the International Energy Agency (IEA) said Tuesday in its closely watched monthly Oil Market Report. The global energy watchdog said it now expects crude output to jump by 1.5 million b/d…
November 16, 2021
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