National oil companies (NOCs) will continue to dominate upstream oil and gas investments if oil prices remain at current low levels, creating a new dynamic in the market, the head of the International Energy Agency (IEA) told Reuters.
Oil fell on Tuesday following a series of gloomy predictions on demand growth that pointed to the global overhang of unused inventories persisting for much longer than anticipated.
The International Energy Agency (IEA) said a sharp slow
A sharp slowdown in global oil demand growth, coupled with ballooning inventories and rising supply means the crude market will be oversupplied at least through the first six months of 2017, the International Energy Agency said on Tuesday.
The International Energy Agency (IEA) expects oil markets to reach a balance between supply and demand in 2017 as the current oil glut slowly eases, IEA chief Fatih Birol said during meetings in South Korea.
Oil markets will begin to tighten in the second half of 2016 but at a slow pace as global demand growth declines and non-Opec supplies rebound, the International Energy Agency (IEA) said on Thursday.
The IEA, i
Oil prices steadied on Thursday after the International Energy Agency forecast crude markets would rebalance in the next few months following several years of heavy overproduction.
The IEA, which advises large developed economies
The global glut in oil is refusing to ease and acts as a major dampener on crude prices despite robust demand growth and steep declines in non-Opec production, the International Energy Agency said.
The IEA, whi
Premature deaths from air pollution will continue to rise to 2040 unless changes are made to the way the world uses and produces energy, the International Energy Agency said on Monday.
Around 6.5 million deaths globally are attrib
The oil market is now in balance thanks to unplanned outages and robust demand, particularly from emerging economies, but this equilibrium will tilt into surplus again early next year, the International Energy Agency said on Tuesday.
Oil prices rose toward six-month highs on Thursday, supported by data from the International Energy Agency (IEA) showing tightening supply in addition to a surprise drop in US crude inventories.
Brent crude futures LCOc1 were trad