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Summary Raises demand growth forecasts for this year and next IEA expects global supply to rise by 3.1 mln bpd in 2025 Implied surplus to reach 4.09 mln bpd in 2026, up by 120,000 bpd from last month Reuters – The global oil market faces an even bigger surplus next year of as much as …
World Oil Market Faces Even Larger 2026 Surplus, IEA Says Read More »
Around 1.4 million barrels per day of Russian oil, or almost a third of the country’s seaborne exporting potential, remain in tankers as unloading slows due to U.S. sanctions against Rosneft and Lukoil, JPMorgan said on Thursday. The U.S. set a November 21 deadline to wind down all dealings with Rosneft and Lukoil, in the …
Almost a Third of Russian Seaborne Oil Export Potential Stuck in Tankers, JPMorgan Says Read More »
European Union lawmakers backed further cuts to the bloc’s corporate sustainability law on Thursday, following months of pressure from companies and some governments demanding the EU weakens its rules. The European Union’s corporate sustainability due diligence directive (CSDDD) was adopted last year and requires companies to fix human rights and environmental issues in their supply …
EU Lawmakers Back Further Weakening of Sustainability Law Read More »
(Reuters) – From Egypt to Kazakhstan, the foreign assets of Russian oil major Lukoil are attracting potential bidders as time runs out to clear deals before U.S. authorities enforce sanctions. The U.S. has hit Lukoil with sanctions as part of its effort to bring the Kremlin to peace talks over Ukraine, and has already blocked …
The energy watchdog says it’s possible global oil consumption could keep increasing through the middle of the century. By Grant Smith For several years, one of the world’s top oil forecasters seemed sure that demand growth would soon plateau. That certainty is fraying. On Wednesday, the International Energy Agency in Paris — founded in the …
The IEA Isn’t So Sure About Peak Oil Anymore: Energy Daily Read More »
By Elena Mazneva The global market could absorb a record wave of new supply of liquefied natural gas, but much depends on net zero policies and renewables growth, the International Energy Agency said. The IEA said it revised up overall gas demand in its World Energy Outlook published Wednesday, but “questions still linger about where …
IEA Says Questions Linger on Who Will Scoop Up New LNG Wave Read More »
CALGARY – Baytex Energy Corp. says it has signed a deal to sell its U.S. Eagle Ford assets to an undisclosed buyer for about $3.25 billion in a move to focus on its operations in Alberta and Saskatchewan. The company says the light oil Eagle Ford operations in Texas represent all of its U.S. business. Baytex chair …
World oil supply is expected to match demand next year in a reflection of the wider OPEC+ group’s production increases, an OPEC report showed on Wednesday, marking a further shift from its earlier projections of a supply deficit in 2026. OPEC+, which groups the Organization of the Petroleum Exporting Countries, Russia and other allies, has …
OPEC Sees Balanced Oil Market in 2026, Moves Further Away from Deficit Projection Read More »
Summary IEA’s current policies scenario shows no oil demand peak before 2050 LNG supply to grow 50% by 2030 US has criticized the IEA for clean energy focus IEA says target to limit temperature rise at 1.5C out of reach (Reuters) – Global oil and gas demand could grow until 2050, the International Energy Agency …
World Oil and Gas Demand Could Grow Until 2050, IEA Says Read More »
RIO DE JANEIRO, Nov 10 (Reuters) – Organized workers from Brazilian state-run oil firm Petrobras (PETR3.SA), opens new tab rejected a work agreement offered by the company and its subsidiaries, which prompted the approval of a “state of strike,” the workers’ union said in a statement on Monday. According to the union, the motion approved …
Brazilian Oil Firm Petrobras’ Workers Approve Potential Strike Read More »
