As a result, the report forecasts that global oil demand, including biofuels, averaged just over 102 million barrels per day in 2023, and will level off near 106 million barrels per day towards the end of this decade. In parallel, a surge in global oil production capacity is expected to o...
Growth is heavily concentrated in a narrow set of non-OECD countries, led by China where September consumption set another all-time record at 17.1m bpd." The IEA said global oil production exceeded expectations owing to growth in the US and Brazil, as it now estimates supply to hit a ...
The global oil market will find itself in a large surplus next year, even as OPEC+ has decided to defer the start of production increases to April, the International Energy Agency (IEA) said on Thursday. The OPEC+ group last week decided to delay the start of the easing of...
IEA said India follows China in terms of growth in the demand for oil, and together the oil demand of those two countries accounts for about half of the growth in global oil demand. Thanks to the shale revolution, the United States leads the picture, with total liquids production reaching n...
Global oil markets are tightening due to robust demand and OPEC+ production cuts, causing crude oil prices to rally. Refining capacity is tight, with diesel prices surging faster than crude. Chinese demand remains resilient, with oil demand averaging up ~1.6 mb/d y/y so far this year, drive...
Achieving the COP28(第28届缔约方大会) target of tripling global renewable capacity by 2030 hinges on(有赖于,和rely on意思比较接近) policy implementation 实现COP28目标,即2030年将全球可再生能源容量增加两倍,关键在于政策的实...
Fatih Birol, executive director of IEA, said at a press conference at the CERAWeek by IHS Markit that the United States led the growth in global oil production and it is expected to provide as much as 70 percent of increase in global oil supply in the next five years. ...
processing it and delivering it to consumers accounts for almost 1 percent of global energy-related emissions – that’s more than all the emissions produced by the United States or twice the emissions of the entire European Union. Our latest report shows how the oil and gas industry can reduc...
• Growth in renewable energy is mainly in electricity through hydropower, solar energy and wind power. The traditional use of biomass for residential heating is going down (and mostly replaced by oil and gas). Modern use of biomass for power and/or heat production is growing. ...
"While the market is closely assessing ongoing geopolitical tensions and evolving OPEC+ supply dynamics, the bigger question for 2025 remains global oil demand," the IEA said, noting that the "abrupt halt toChinese oil demandgrowth this year," as well as "sharply lower increases" in some emerg...