More could be done to fill storage sites ahead of winter heating season, says energy body
Brent crude rallies above $74 as Storm Nicholas hits US Gulf Coast
It's a marked reversal for the Paris-based agency, which just a month ago was urging the Opec+ alliance to open the taps or risk a damaging spike in prices
Oil prices declined on Thursday after the International Energy Agency said the spread of the Delta variant of the coronavirus would slow the recovery of global oil demand
In a Q&A, Fatih Birol dwells on India's future in renewables, Reliance's aggressive green energy foray and how advanced countries should support the emerging world in its net-zero emission drive
The energy watchdog said the figure represented around a third of what it envisioned was needed in order to put the world on course to reach net zero emissions by mid-century.
The IEA said market volatility stoked by the impasse served neither producers nor consumers and that while higher fuel prices could provide an impetus to developing more renewable energy
Within three decades, the role of fossil fuels should reverse entirely -- from 80% of global energy needs today to barely a fifth by mid-century.
Global energy-related CO2 emissions are on course to surge by 1.5 billion tonnes in 2021,the second-largest increase in history
Global oil demand and supply are set to be rebalanced in the second half of this year
IEA saw primary energy consumption almost doubling to 1,123 million tonnes of oil equivalent as the Gross Domestic Product (GDP) expands to USD 8.6 trillion by 2040
IEA forecast India accounting for the biggest share of energy demand growth over the next two decades
India's growing energy needs will make it more reliant on fossil fuel imports as its domestic oil and gas production has been stagnant for years
India on Wednesday inked a strategic partnership agreement with the International Energy Agency (IEA) to strengthen cooperation in global energy security, stability and sustainability. This partnership will lead to an extensive exchange of knowledge and would be a stepping stone towards India becoming a full member of IEA, a power ministry statement said. "The Framework for Strategic Partnership between the IEA members and the Government of India was signed on 27th January, 2021 to strengthen mutual trust and cooperation & enhance global energy security, stability and sustainability," it said. The Memorandum of Understanding (MoU) was signed by Power Secretary Sanjiv Nandan Sahai and IEA Executive Director Fatih Birol. "The contents of the strategic partnership will be jointly decided by IEA members and India, including a phased increase in benefits and responsibilities for India as an IEA strategic partner, and building on existing areas of work within Association and the Clean .
LONDON (Reuters) - Oil producers face an unprecedented challenge to balance supply and demand as factors including the pace and response to COVID-19 vaccines cloud the outlook, an official with International Energy Agency (IEA) said on Wednesday.
The Covid crisis has hastened a seismic shift in the global refining industry as demand for plastics and fuels grows in China and the rest of Asia
India is expected to be the largest contributor to the renewables upswing in 2021, with the country's annual additions doubling from 2020
At the same time, markets are set to receive fresh supplies in January as OPEC and its partners relax some of the measures they've taken to prevent a glut
The Paris-based IEA slashed its 2020 outlook by 140,000 bpd to 91.9 million bpd, its first downgrade in several months
Governments are easing restrictions put in place to curb the spread of the virus after the confinement of around 3 billion people brought the global economy to a near standstill