Oil – Demand and production increases are common themes in the outlook for oil in 2014.
Articles Tagged "international energy agency"
Coal – Bloomberg reported that according to the International Energy Agency (IEA), global coal consumption will rise by 2.3 percent per year until 2018. Last year, the agency predicted that coal use would grow by 2.6 percent per year through to 2017.
Oil – Bloomberg reported that Iran is now dealing with another obstacle for its oil export. With the United States imposing the penalty of expulsion, Iranian crude buyers will be restricted to using their own currencies when buying, effective today.
Oil – Reuters reported that Iran’s crude exports to Asia, which is its biggest customer, went down by a quarter in 2012 and shipments are expected to fall to at least 12% this year due to pressure from US sanctions.
Oil – Reuters reported that data from the International Energy Agency shows that Iran's oil exports fell to 860,000 barrels per day in September, a new low. If Western sanctions continue, the country's exports could descend even lower in the coming months.
Oil – Bloomberg reported that the price of oil dropped after the International Energy Agency reduced its outlook for global oil demand by 100,000 barrels per day for 2012 and 2013. The organization anticipates that world oil demand will be 89.7 million barrels per day this year and 90.5 million barrels next year.
Oil – The Wall Street Journal reported that oil futures gained following the announcement that the International Energy Agency is unlikely to release strategic oil reserves and news that Hurricane Isaac has shut down most oil output in the Gulf of Mexico.
Oil – Reuters reported that the International Energy Agency may intervene in the oil market by calling for a release of emergency oil reserves.