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International Energy Agency Executive Director Fatih Birol discusses the outlook for oil production and prices in light of current geopolitical uncertainties. "This year, we expect the oil demand to increase about 700,000 barrels per day, and the production growth is significantly higher than that," Birol told Bloomberg Television.
Oil prices retreat as supply builds and demand forecasts fade. WTI slips on bearish data, with resistance near $61.55 capping recovery attempts.
Natasha Kaneva, JPMorgan head of global commodities, shares her thoughts about oil demand and how oil prices are tied to the US dollar. Kaveva also says copper is trading too high at the moment.
CVX, COP and EOG offer stability and upside, as OPEC's outlook signals slower growth but confirms oil's lasting role in the global economy.
The International Energy Agency on Tuesday cut its projection for oil demand growth this year and the next, blaming the toll on the global economy from President Donald Trump's tariffs.
The International Energy Agency (IEA) on Tuesday sharply cut its forecast for the growth in global oil demand this year due to escalating trade tensions, a day after a similar move by producer group OPEC.
Oil demand growth is forecast to be weaker than previously projected as escalating global trade tensions sparked by U.S. President Trump's tariffs weigh on the global economy, the International Energy Agency said.
Oil futures edged lower Thursday morning, after the International Energy Agency's monthly report underscored worries that rising global trade tensions could undercut energy demand.
The escalating trade war is putting pressure on global oil demand at the same that OPEC+ is reviving output, threatening to deepen a supply surplus, the International Energy Agency said. Toril Bosoni, head of oil markets at IEA joins “Bloomberg Brief.
The International Energy Agency said the macroeconomic conditions underpinning its oil-demand projections have worsened over the past month due to global trade tensions.