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.
Global demand for oil will be slightly higher than expected this year, driven by increased consumption in India, the US and Germany, the International Energy Agency (IEA) predicted on Thursday.
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.