The pandemic and a mild winter in the northern hemisphere have delivered a “historic shock” to the global natural gas market, with consumption set to decline in 2020 by twice the amount lost after the 2008 financial crisis, the International Energy Agency (IEA) said Wednesday.
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The United States is forecast to contribute 40% of global natural gas production by 2025 and nearly 75% of oil growth in the next six years, driven mainly by unconventional onshore supplies, the International Energy Agency (IEA) said Tuesday.
U.S. domestic crude oil production this year is likely to exceed 10 million b/d, surpassing output from Saudi Arabia and rivalling that of Russia, according to the International Energy Agency (IEA).
The oil and gas industry is able to respond faster than it did a decade ago when severe storms hit the U.S. Gulf Coast, but the region today also is more strategic to world energy markets, which means disruptions like Hurricane Harvey have to be overcome, and quickly, the International Energy Agency (IEA) said.
Rebalancing the global oil glut is going to take more than a temporary pullback by the world’s largest producers because U.S. unconventional production is overwhelming any shortfall and coming back faster than anticipated, the International Energy Agency said.
U.S. carbon dioxide (CO2) emissions in 2016 fell more than anywhere else in the world, down 3% year/year, driven by a flood of shale natural gas supply and renewable power increasingly displacing coal, the International Energy Agency (IEA) said.
A more flexible global natural gas market, linked by trade doubling in exports, will lead to a second “revolution” for the industry to 2040, the International Energy Agency said in its flagship annual publication.
Worldwide oil and natural gas investments fell for the second consecutive year in 2015 by 8%, lifted by efficiencies, pummeled by weaker finances and squeezed by robust outlays in renewables, the International Energy Agency (IEA) reported Wednesday.
Global energy-related carbon dioxide (CO2) emissions, considered the largest source of man-made greenhouse gas emissions, remained flat in 2015 for the second year in a row, in part on the rising use of natural gas, according to an analysis of preliminary data by the International Energy Agency (IEA).
U.S. light tight oil (LTO) production should be on a downward slope through 2017 before an expected rebound in prices resets growth from 2018 through 2021, the International Energy Agency (IEA) said Monday.