International Energy Agency

The International Energy Agency (IEA) forecasted that global oil markets are expected to experience a significant surplus by the end of this decade. However, Bob McNally, President of Rapidan Energy Group, warned of a potential shortage of transportation fuels by 2028. What Happened: During CNBC...

Oil prices surged during the first quarter of 2024 as the supply/demand outlook tightened and global geopolitical concerns intensified, pushing both U.S. and European benchmark crude futures to five month highs. Over the first three months of the year, Nymex West Texas Intermediate, the U.S....

The International Energy Agency (IEA) disclosed that the sale of electric vehicles, which accounted for one-fifth of all new cars sold worldwide last year, resulted in a notable reduction in oil demand. What Happened: The IEA’s report states that without EVs, solar, wind, and...

The International Energy Agency (IEA) has projected an enduring slowdown in oil demand until 2024, a viewpoint that starkly clashes with the optimistic forecasts of the Organization of the Petroleum Exporting Countries (OPEC). What Happened: As reported by CNBC on Thursday, the IEA perceives a...

Global oil prices fell on Monday after COP28 president Sultan Al Jaber hit back at criticisms of comments he made before the climate summit about scientific evidence of the need to phase down the use of fossil fuels. In an online event in November, Al Jaber had reportedly remarked there was “...

The International Energy Agency (IEA) is set to hold an emergency meeting Friday among consuming nations to discuss a new release of strategic reserves alongside a plan by the United States to pump massive supplies starting in May to cool soaring oil prices, reported Reuters. Global oil prices...

Good news for tanker rates: Port congestion is on the rise, particularly in China. Floating storage is down from its peak, but there's a very long way to go before all those cargoes are unloaded. And on the tanker supply side of the equation, surging congestion in China is offsetting declines in...

Good day, It is no surprise that e-commerce is a definitive winner within the retail segment in the context of COVID-19. E-commerce retail sales spiked as an increasing number of people moved online to shop, while retail outlets remained shut due to the pandemic. Though it was evident that Amazon....

Equity index futures are pointing to a flat open to begin the week. The focus this morning is on Crude Oil futures and the move lower to an 18-year low overnight — to levels we haven’t seen since 2002 — as coronavirus demand destruction continues to take its toll on price. The...

There are several electric vehicle exchange traded funds available to U.S. investors, all of which have come to market this year. While none of these funds are particularly large, some research points continue to confirm the validity of the electric vehicle investment theme. In a report out...

Hurricanes Harvey and Irma body slammed two of the biggest export-import hubs in the world, and the impact on prices and shipping costs will be felt for months in places far removed from the scenes of destruction. The impact on ports — Houston alone is the world’s sixth-largest —...

Tesla Inc (NASDAQ: TSLA) eclipsed General Motors Company (NYSE: GM) and Ford Motor Company (NYSE: F) to become the largest auto company in the world this year in terms of market valuation. Tesla shares are up an incredible 72.3 percent in 2017, while GM and Ford shares are down 1.5 percent and 8.6...

The International Energy Agency (IEA) put a damper on the bullish case for oil in its latest report. The agency said in its latest monthly report on Wednesday that it now expects oil stockpiles to continue accumulating through 2017, which will make the fourth consecutive year in which the world...

The United States, the world's top oil producing nation since April 2014, was just overtaken by Saudi Arabia. The U.S. was the largest producer of crude and liquid hydrocarbons after the 2014 shale oil boom attracted many producers to the market. According to a Bloomberg report, Saudi...

OPEC ministers said the oil market is fixing itself upwards and the prices are moving in the right direction, according to a report on Bloomberg. "From the beginning of the year until now, the market has been correcting itself upward," U.A.E. Oil Minister Suhail Al Mazrouei told...