Oil demand has been on a rollercoaster ride over the last five years due to a global pandemic, wars, and other economic pressures. That’s happened against a backdrop of the U.S. ramping up shale production, countries tightly controlling how much oil is released, and the world transitioning to alternative energy sources. All these factors will […]
A looming glut in global oil supply could “upend” attempts by the Organization of the Petroleum Exporting Countries and its allies, or OPEC+, to prop up prices by cutting production, according to the International Energy Agency. The Paris-based IEA said Wednesday that it expects growth in global oil production — led by the United States […]
The International Energy Agency (IEA) has raised concerns about a potential oversupply in the global oil market, warning that a surge in US-led production could outstrip demand by a staggering 8 million barrels per day by the year 2030. Yahoo Finance’s Ines Ferré breaks down the projection, shedding light on the factors contributing to this […]
Insights from the IEA, Bloomberg, and Science The News Investment in clean energy sources will double that of fossil fuels in 2024, the International Energy Agency said. Globally, it will surpass $3 trillion this year, with over $2 trillion going toward clean energy, according to the IEA. More than two-thirds of that green investment will […]
Solar panel costs have decreased by 30 percent over the past two years, the IEA said (Sia KAMBOU) More money is pouring into solar power than all other electricity sources combined, with investments set to reach half a trillion dollars this year, the world’s top energy research body said Thursday. The International Energy Agency (IEA) […]
(Bloomberg) — Most Read from Bloomberg Since the International Energy Agency’s inception in 1974 following the world’s first major oil crisis, it would be an understatement to say that the energy industry has gone through a lot of change. And yet, even as it celebrates its 50th anniversary, the IEA has found a way to […]
The head of the international Energy Agency (IEA), Fatih Birol, believes nuclear power is making “a strong comeback” around the world. This applies in France, Asia, North America, the Middle East and elsewhere, he told dpa ahead of the association’s ministerial meeting in Paris on Tuesday. “After the invasion of Ukraine by Russia, many countries […]
Solar panels operate at Mohammed bin Rashid Al Maktoum Solar Park as Dubai, United Arab Emirates hosts the COP28 U.N. Climate Summit, on Monday, Dec. 11, 2023. Solar is now the cheapest form of electricity in a majority of countries.AP Photo/Joshua A. Bickel The US and European Union are seeing solar panels pile up amid […]
BENGALURU, India (AP) — The world’s renewable energy grew at its fastest rate in the past 25 years in 2023, the International Energy Agency reported Thursday in its first assessment since nations agreed in December on ambitious new targets to slow dangerous climate change. The Paris-based agency said rapid growth of solar in China was […]