The Latest Breaking News from International Energy Agency

IEA: 3 Mln bpd of Russian Oil Could Be Shut in Next Month

Three million barrels per day (bpd) of Russian oil and products may not find their way to market beginning in April in the wake of its invasion of Ukraine, the International Energy Agency said on Wednesday, as sanctions bite and buyers hold off. "Of the cutback, we see a reduction…

Asharq Al-Awsat · Mar 16, 2022

Oil price tumbles after UAE official signals support for boosting production

The price of oil plunged on Wednesday, after a diplomat from the United Arab Emirates said the country was in favour of the oil-producing group OPEC increasing production. The ambassador's statement was followed by a tweet from the Emirati energy minister, who said the UAE would stick to current production…

France 24 · Mar 10, 2022

International Energy Agency To Draw Up Plan To Cut Oil Usage As Prices Surge: Reuters

The International Energy Agency (IEA) head says they could plan to release more oil from stocks to ease surging fuel prices and would draw up an action plan to reduce oil usage swiftly, reported Reuters. After Russia invaded Ukraine, oil prices spiked higher, and the West toughened sanctions on Moscow, stirring fears…

Benzinga · Mar 9, 2022

IEA members move to build cushion against oil price shock

NEW DELHI: Member countries of the International Energy Agency (IEA), including India, late on Tuesday agreed to release 60 million barrels of oil from their emergency stockpiles as a message to the global oil markets that there will be no shortfall in supplies as a result of the conflict between…

The Times of India · Mar 1, 2022

Nations agree to release 60 million barrels of oil amid war

The International Energy Agency says all 31 member countries have agreed to release 60 million barrels of oil from their strategic reserves “to send a strong message to oil markets” that there will be “no shortfall in supplies” as a result of Russia’s invasion of Ukraine

The Independent UK · Mar 1, 2022

Ukraine crisis could be ‘historic turning point' for European energy, IEA chief Birol says

The head of the International Energy Agency, Fatih Birol, has said the crisis in Ukraine could be a "historic turning point" in how European countries source their energy. Speaking to FRANCE 24 on Wednesday, before the Russian invasion of Ukraine, Birol noted that supplies of Russian gas to Europe had…

France 24 · Feb 24, 2022

Energy agency: Methane emissions higher than countries claim

The International Energy Agency says emissions of planet-warming methane from oil, gas and coal production are significantly higher than governments claims

The Independent UK · Feb 23, 2022

Oil and gas facilities could profit from plugging methane leaks, IEA says

International Energy Agency reports nearly all the industry’s methane emissions could be avoided at no net cost

The Guardian - UK · Feb 23, 2022

OPEC+ Would Seek to Bring Iran into Oil Supply Deal

OPEC+ will work to integrate Iran into its oil supply-limiting accord should agreement be reached on reviving its nuclear deal with world powers, sources close to the group said, seeking to avoid market share competition that could hit prices. A successful outcome to the talks could lift US sanctions on…

Asharq Al-Awsat · Feb 18, 2022

Canada praised for climate leadership despite scathing watchdog report on climate-policy failures

When the International Energy Agency (IAE) released its update report on Canada in mid-January, it was largely a summary of the Canadian fossil fuels landscape coupled with praise for the federal government’s climate policy commitments and Canada’s climate leadership.

The Conversation · Jan 20, 2022