Sunday 13 July 2014
 
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IEA

Opec oil demand to shoot up in 2014: IEA

The Organisation for Petroleum Exporting Countries (Opec) will have to produce a million barrels per day (bpd) more oil on average in the second half of 2014 to balance the global market, which will see a steep seasonal spike in demand, the West

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Iran's oil exports fall second month in April

Iran's oil exports dropped for a second month in April, the International Energy Agency said, moving closer to levels allowed by November's interim deal on curbing Tehran's nuclear programme. Global imports of Iranian

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Iran's oil exports surge above West's sanctions cap

Iran's crude oil exports have surged to their highest in 20 months, far exceeding a 1 million barrel-per-day limit set by the West under an interim deal on curbing Tehran's nuclear program. The International Energy Agency&

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Robust demand tightening oil market: IEA

Stronger-than-expected demand has drained oil inventories to the lowest level since 2008, tightening the market and defying predictions of a glut, the West's energy watchdog said on Thursday. The International Energy Agency (I

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Oil reaches $108, IEA says demand to accelerate

Oil rose to touch $108 a barrel on Tuesday after the International Energy Agency (IEA) raised its forecast for global oil demand this year, citing accelerating economic growth. The West's energy watchdog said world oil consump

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Oil demand 'will rise quickly as growth picks up'

Global oil demand will increase more quickly this year as economic growth accelerates, outstripping supply even as shale oil production in the US reaches record highs, the West's energy watchdog said on Tuesday. The Internatio

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Global oil demand growth 'gaining momentum'

Surging oil demand and faltering supplies mean oil prices face upside risks over the next few months, the West's energy watchdog said. The International Energy Agency (IEA) said in its monthly report that after eight consecuti

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More refinery closures on the cards for 2014: IEA

An increase in new oil refining capacity and a rise in production of fuel not processed at refineries will lead to more plant closures in 2014, the International Energy Agency (IEA) said in its latest monthly report. Crude distill

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Oil prices 'could rise over supply worries'

Oil markets look well supplied in the short term but prices could rise in the next few months due to a seasonal increase in demand and production problems in some Opec producers, the West's energy watchdog said on Thursday. Th

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Mideast will still dominate oil market

Recent major developments in the global oil space, particularly in the Americas, will not significantly impact the Middle East’s status as an energy leader in the long run, according to a report.  

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