International Energy Agency Executive Director Fatih Birol pressed the European Union to revisit its moratorium on drilling for oil and gas in the Arctic, challenging the bloc’s long-held opposition to new fossil fuel development there. “I support the Commission to give a very close look at this issue because it is extremely important for the European energy […]
International Energy Agency chief Fatih Birol says the Iran war has permanently changed the fossil fuel industry and will accelerate a shift toward renewables, nuclear power and electrification at the expense of oil demand.
The International Energy Agency appears to have bowed to threats from the U.S. to pull its funding if the agency didn’t realign its forecasting toward unbiased, policy-neutral projections. In the middle of the COP30 United Nations Climate Change Conference last month, the agency released its annual “World Energy Outlook.” Unlike previous iterations, the report doesn’t […]
The demand growth projection for 2025 was revised slightly down to 990,000 bpd from 998,000 bpd, as the agency warned that demand growth this year and next will be much lower than in previous years, also because of weak Chinese demand.
Russia-Saudi oil cooperation is still going strong as part of the OPEC+ alliance, which will do “whatever necessary” to support the market, Saudi Energy Minister Prince Abdulaziz bin Salman told a conference on Wednesday.