An oil production shortfall in Iran and Venezuela may force OPEC and Russia to decide later this month to open their taps, the International Energy Agency said Wednesday.
The Paris-based IEA raised its forecast for oil demand this year to 99.3 million barrels per day (bpd), from 97.8 million bpd in 2017.
Barely one tenth of renewable energy technology is ready to meet long-term climate change targets as governments have failed to adequately support large-scale deployment ...
A global oil glut that has hurt producers but means cheaper pump prices for consumers looks set to go on at least six months longer than previously thought, the International Energy Agency said on Tuesday.
Oil markets will begin to tighten in the second half of 2016 but the process will be slow and painful as global demand growth declines and non-Opec supplies rebound, the International Energy Agency said on Thursday.
The global glut in oil is refusing to ease and acts as a major dampener on crude prices despite robust demand growth and steep declines in non-Opec production, the International Energy Agency said on Wednesday.