IEA

Azerbaijan and Kazakhstan save OPEC deal

According to the IEA’s September report, non-OPEC countries fulfilled the plan to reduce production in August by 118% at the expense of Kazakhstan and Azerbaijan, the September report of the IEA said. Kazakhstan exceeded the plan …

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IEA: Iran’s oil output to reach 6 mb/d by 2040

The International Energy Agency estimated that Iran’s oil output would increase to 6 million barrels per day (mb/d) by 2040. "Growth in oil demand slows over the projection period, but tops 103 mb/d by 2040," IEA said in …

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IEA keeps its oil demand forecast

The International Energy Agency kept its demand growth forecast for 2016 at 1.2 million bpd and expects consumption to increase at the same pace next year, having gradually slowed from a five-year peak of 1.8 million bpd in 2015. …

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Saudi Arabia ousts US as biggest oil producer

Saudi Arabia has retaken the position of the world’s top oil producer from the US, according to the International Energy Agency. “Saudi Arabia’s elevated oil production has allowed it to overtake the US and become the …

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IEA: oil production to fall, oil prices to go up

World oil prices increased today due to the statement by the Executive Director of the International Energy Agency (IEA), Fatih Birol, that the organization this year expects the biggest decline in non-OPEC oil supply in the last 25 years, almost 700,000 barrels per day. Low oil prices had cut investment by about 40% in the past two years, with sharp declines in the United States, Canada, Latin America and Russia, The New York Times cited Birol as saying.

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IEA: oil-freeze deal would have limited impact on market

A deal to freeze oil production by OPEC and non-OPEC producers will have a limited impact on global supply, the International Energy Agency (IEA) said in its monthly report. "If there is to be a production freeze, rather than a …

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IEA predicts decrease in Russian oil output

The largest decrease in oil output in the next six years among non-OPEC countries is expected in Russia, the Executive Director of the International Energy Agency (IEA) Fatih Birol informed at CERA WEEK in Houston. …

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