EIA

Oil rises after bigger-than-expected drop in inventories

Oil prices moved higher on Wednesday after an industry report showed that U.S. inventories of crude fell more than analysts expected, bolstering hopes that fuel demand in the world’s biggest economy can weather the coronavirus pandemic. …

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Russia supplies record amount of oil to U.S.

According to the Energy Information Administration's January-November 2019 report, Russia increased its oil supplies to the United States to record levels last year, despite difficult political relations and economic sanctions. …

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EIA forecasts Brent may reach $183

The Energy Information Administration (EIA) in its Annual Energy Outlook 2020 projects the price of Brent crude oil to reach $183 per barrel by 2050. That is possible in the case of high costs and fewer easily accessible resources. …

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IEA does not expect 'huge increase' in crude prices

The International Energy Agency (IEA) doesn’t expect oil prices to rise significantly because demand is slowing and there is a glut in global crude markets, its executive director Fatih Birol said Electric …

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IEA: oil output from OPEC falls in May

Oil output from OPEC fell in May by 230,000 barrels per day to 29.95 million bpd, hitting a five-year low, according to data from the International Energy Agency (IEA). In May, top OPEC producer Saudi Arabia’s output fell by …

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Oil demand growth may be slowed by prices above $70

Oil prices at $70 per barrel and higher increase the risk of slowing demand growth against the backdrop of uncertainties in global economy, International Energy Agency said in its Oil Market Report. "Oil prices at …

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EIA: US oil export may outstrip Russia by 2024

The U.S. will become a net oil and oil product exporter in 2021, and will export more oil than Russia by 2024, the International Energy Agency (IEA) said in its new Oil 2019 report. In 2018, the combined production of liquid …

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Venezuela crisis puts oil market in panic mode

Oil rose today, shaking off persistent concern about the outlook for demand after the U.S. government said it could impose sanctions on OPEC member Venezuela's crude exports. Brent crude futures were up 10 cents at $61.24 a barrel …

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IEA: U.S. shale oil growth underestimated

Shale oil's impact will have "huge implications" for global energy markets for many years, executive director at the International Energy Agency Fatih Birol said at the World Economic Forum in Davos, …

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