IEA warns of a looming oil glut

If global oil demand growth continues to languish with uncertainties around the global economy and Brexit, the oil market will likely have to cope with another oversupply next year, according to the International Energy Agency (IEA).  “Unless other things change, we will see a surplus probably, unless there is very strong demand growth recovery,” Keisuke […]

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Oil demand crawling at slowest pace since 2008 financial crisis: IEA

Mounting signs of an economic slowdown and a ratcheting up of the U.S.-China trade war have caused global oil demand to grow at its slowest pace since the financial crisis of 2008, the International Energy Agency (IEA) said. “The situation is becoming even more uncertain … global oil demand growth has been very sluggish in the first half of 2019,” the IEA […]

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Demand from Asia set to power global gas industry growth over the next five years – IEA

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Global demand for natural gas is set to keep growing over the next five years, driven by strong consumption in fast-growing Asian economies and supported by the continued development of the international gas trade, the International Energy Agency (IEA) said. Demand for natural gas grew 4.6% in 2018, its fastest annual pace since 2010, according […]

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Global energy investment stabilised above $1.8 trillion in 2018; security and sustainability concerns growing – IEA

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Global energy investment stabilised in 2018, ending three consecutive years of decline, as capital spending on oil, gas and coal supply bounced back while investment stalled for energy efficiency and renewables, according to the International Energy Agency’s latest annual review. The findings of the World Energy Investment 2019 report signal a growing mismatch between current trends and […]

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Renewable capacity growth worldwide stalled in 2018 after two decades of strong expansion, says IEA

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After nearly two decades of strong annual growth, renewables around the world added as much net capacity in 2018 as they did in 2017, an unexpected flattening of growth trends that raises concerns about meeting long-term climate goals, the International Energy Agency (IEA) said. Last year was the first time since 2001 that growth in […]

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Increase of cheaper coal in Southeast Asia foils global green push

Southeast Asian countries are turning to low-cost coal to satisfy their surging electricity demand as the West shies away from the fossil fuel under pressure from green-minded investors. Indonesia is on track for the third-largest coal-fired power capacity of new plants under development, behind China and India. Vietnam follows in fourth place, while the Philippines […]

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