Oil Slumps
IEA Predicts End to Oil & Gas Demand Growth Before 2030
The International Energy Agency has stoked the flames by predicting that global demand for all fossil fuels will stop growing this decade
Oil prices hold at 2-week low on lower oil demand growth forecasts
Oil prices held near a two-week low on Wednesday after dropping about 7% over the prior three days on forecasts for less oil demand growth and reduced concerns that Middle East conflicts will disrupt supply.
Oil Slumps as IEA Trims Demand Forecast
Crude oil prices slumped Tuesday as the International Energy Agency (IEA) cut its projection for oil demand growth, noting China's slowing economy was behind the decision. The IEA said oil demand will grow “just shy of” 900,000 barrels per day (B/D) in 2024. In September, the IEA had projected average annual gains of 900,000 B/D for 2024.
Lower oil and natural gas prices, higher electricity demand expected over next five years: IEA
Natural gas and oil prices are likely to decline in the second half of the decade, but unexpectedly high worldwide demand for electricity will complicate efforts to reduce greenhouse gas emissions, the International Energy Agency (IEA) said Wednesday in its yearly World Energy Outlook.
OPEC Further Trims Oil-Demand Outlook
The Organization of the Petroleum Exporting Countries further trimmed its forecast for oil-demand growth, as it prepares to bring some barrels back into the market despite weaker global prices.
Clean Energy Push to Bring Peak in Oil Demand by 2030, IEA Says
The momentum in clean energy sources amid growing electricity demand is "strong enough" to bring a peak in demand for fossil fuels, including oil, by the end of the decade, the International Energy Agency said Wednesday.
Oil, Middle East
Oil prices could soar 62% by early 2025 if the geopolitical situation deteriorates, Citi strategist says
Citi's bull case for oil hinges on conditions deteriorating sharply in the Middle East as tensions keep rising between Israel ...
Crude Oil Prices7h
Bears Still Rule Oil Market, But for How Long?
Despite concerns about lower demand and rising non-OPEC supply, oil demand—particularly from China—remains resilient.
Oil prices down for 4th straight session as traders weigh supply and demand
Crude futures were slightly lower early Wednesday, drifting to the downside a day after a rout sparked by news reports that ...
Oil Futures Hammered By 5% Declines Following Bearish Triple Whammy
Global oil futures suffered heavy declines on Tuesday following a series of bearish market developments and a renewed focus ...
Heightened Egyptian demand in tight market buoys European fuel oil prices
A spike in Egyptian imports of fuel oil used for power generation has coincided with lower supply in Europe, helping to push ...
Why Oil Traders Have Become So Pessimistic About 2025
Even as oil prices swirl amid the turmoil gripping the Middle East, many traders have remained resolutely pessimistic about ...
Oil could fall to $25 per barrel by 2050 if net zero emissions goals met, IEA says
The IEA sees cheaper energy prices in the future as oil gets displaced by EVs and renewables meet growing electricity demand.
Oil falls 2% as OPEC cuts oil demand growth view, China concerns
Oil prices fell 2% on Monday as OPEC again lowered its outlook for 2024 and 2025 global oil demand growth while China's oil ...