The International Energy Agency (IEA) trimmed its forecast for 2024 oil demand growth, citing lower than expected consumption in OECD countries and a slump in factory activity

OPEC’s forecast for 2024 will likely be lower than the growth it expects this year of 2.35 million barrels per day, or 2.4 percent, an abnormally high rate as the world moved out of the pandemic

Denmark and Costa Rica are trying to forge an alliance of countries willing to fix a date to phase out oil and gas production and to stop giving permits for new exploration

IEA’s monthly report said rising demand for oil reversed course in July and was set to proceed more slowly for the rest of the year after the latest wave of COVID-19 infections prompted countries to bring in restrictions again

The International Energy Agency warned that world oil markets are likely to remain volatile following a breakdown in talks between OPEC members and their non-OPEC allies, creating a no-win situation

“The pathway to net zero is narrow but still achievable. If we want to reach net zero by 2050 we do not need any more investments in new oil, gas and coal projects,” Fatih Birol, the IEA’s executive director

Climate-changing CO2 emissions are set to surge by the second-biggest amount in history this year as the global economy recovers from the Covid-19 pandemic, the IEA warned

Goldman Sachs expects OPEC + to keep its oil production unchanged for May, when the group meets next week, and to continue making “still the big rise of 3.4 million barrels per day that is expected. for September”

The International Energy Agency (IEA) warned the world oil market remains fragile, despite a recent recovery in prices, as tighter restrictions are imposed to curb more contagious coronavirus variants

Oil demand recovery will take a hit from a spike in new coronavirus cases before vaccine roll-outs and stimulus measures help in the second half of the year, International Energy Agency (IEA) said