Oil market faces bigger surplus even as China reopens
Global oil markets face a bigger surplus this quarter than previously expected, with demand still constrained despite Chinaโs bid to reopen its economy from Covid lockdowns.
Global oil markets face a bigger surplus this quarter than previously expected, with demand still constrained despite Chinaโs bid to reopen its economy from Covid lockdowns.
The International Energy Agency (IEA) said that global renewable capacity is expected to grow much quicker than previously forecast following the energy crisis.
Ithaca Energy (LON: ITH) has celebrated first oil from Abigail, a tiny North Sea oil and gas field which made national headlines this year.
As COP27 continues apace, the slew of demands for more โ or less โ hydrocarbon investments is mounting.
As humankind drives relentlessly towards climate catastrophe, just a few days ago the International Energy Agency offered a crumb of comfort regarding CO2 emissions.
On Sunday, the global climate summit COP27 will convene in Egypt. Bloomberg Green will cover the conference in depth and weโve been preparing for it, looking at Egyptโs future under a possible 3C of warming and discussing why every election is now a climate election.
European natural gas demand will slump next year as high prices drive nations to enact energy-saving measures amid Russian supply curtailments, according to the International Energy Agency.
OPEC producers will need to pump crude at the fastest pace in five years in 2023 if they are to balance oil supply and demand. Capacity constraints suggest they may struggle.
Green grids and international renewable energy are the only way to save Africa โ and the world โ with the alternative being a โclimate abyssโ.
The International Energy Agency cut its forecast for global oil demand this year after China reimposed lockdowns to contain the spread of a resurgent coronavirus.
Oil rebounded after a steep slump that was triggered by prospects for further crude releases from strategic reserves, the outlook for tighter U.S. monetary policy and weaker demand in virus-hit China.
The definitions of Environmental, social and corporate governance (ESG) have been challenged by Russiaโs invasion of Ukraine, nowhere more so than in the energy sector, where companies have been forced by events to exit Russia abruptly and energy prices have soared to record levels.
The UK will join the US in releasing more oil from its reserves as part of a joint effort to lower prices and reduce reliance on Russian supplies, two people familiar with the matter said.
OPEC members have opted to drop their use of data from the International Energy Agency (IEA) in their monthly reporting.
Sky-high oil prices and extreme volatility have exposed the fragility of the worldโs dependence on fossil fuels.
New analysis from the International Energy Agency (IEA) suggests adopting a suite of measures could enable the European Union to reduce its imports of Russian gas by more than one-third within a year.
Emissions of planet-warming methane from oil, gas and coal production are significantly higher than world governments claim, according to the International Energy Agency.
The tightness in global oil markets that propelled prices to a seven-year high is starting to ease as production recovers in the U.S. and elsewhere, the International Energy Agency said.
The UK wonโt join an alliance of countries fixing a date to phase out fossil fuel production, which critics argue calls into question the host nation's climate leadership.
A first draft of the Glasgow final decision text at COP26 has been published ahead of the conference wrapping up this week.
Climate change is threatening increasing amounts of energy infrastructure, the International Energy Agency (IEA) has warned.
Progress towards a clean energy system is โstill far too slowโ to be compatible with net zero by 2050, a report has claimed.
Oil and gas majors are being warned they must plan for a โmajor production dropโ in order to hit the 1.5ยฐC Paris Agreement target.
The International Energy Agency cut forecasts for global oil demand โsharplyโ for the rest of this year as the resurgent pandemic hits major consumers, and predicted a new surplus in 2022.
Plans for ammonia exports are taking shape around the world, as companies compete to secure the most attractive opportunities to fuel future zero carbon aspirations.