Oil markets are beginning to tighten after a dramatic collapse in prices over the last year, reducing production in many parts of the world and stimulating extra fuel consumption, the West's energy watchdog said.
The International Energy Agency (IEA) is concerned about current high oil prices, but did not see the need for any release of strategic stockpiles as the market is well supplied despite supply outages in Libya, the group's head said on Tue
The global oil market is sufficiently supplied and there is no reason to release extra reserves now, the head of the International Energy Agency (IEA) said on Thursday.
"There is no reason for action at this moment," Mar
Gulf oil producers are unlikely to ramp up oil production further unless demand rises, according to the Organisation of Petroleum Exporting Countries (Opec) delegates from the Gulf region.
Finance ministers from the Group of Seven most
The head of the International Energy Agency (IEA) on Tuesday voiced her strongest opposition yet to a release of emergency oil stocks, risking a rift with the agency's most influential member, the US, over strategic reserves policy.
World oil consumers are poised to tap into emergency oil inventories as soon as early September after the International Energy Agency (IEA) dropped its resistance to a US-led plan, a source and an oil journal said.
Just one week after i
Global oil demand growth will fall next year below already very weak levels of 2012 due to a slowdown in economic activity, according to the West's energy watchdog.
The outlook by the International Energy Agency (IEA) echoes similar
The European Union could cope with an abrupt halt by Iran of its oil exports to the region as buyers of Iranian oil are already adjusting to the EU's forthcoming ban on Iranian shipments, an International Energy Agency official said on Monday.
Global oil demand will grow by less than one per cent in 2012, the International Energy Agency (IEA) said yesterday, cutting its oil growth demand forecast for a sixth consecutive month due to a weak global economy.
The agency, which provi
Consumer watchdog the International Energy Agency's (IEA) emergency oil release is a desperate measure that threatens to undo two decades of co-operation with Opec and could fail to calm prices, said experts.
Thursday's announcement of a 6