iea

Will the Economic Recovery Slide on $90 Oil?

Oil prices, up more than 25% since August, are testing the $90 per barrel level and appear to be headed higher -- into what the International Energy Agency calls 'a dangerous zone' for the global economy.

World Oil Demand Will Be Lower Than Expected in 2011

World demand for oil will increase in the final months of 2010, but will be lower than expected in 2011, The International Energy Agency said. The IEA cut its forecast for 2011 demand to 1.21 million barrels per day, from 1.27 million bpd, Reuters reported. The agency also increased its estimate for 2010 by 260,00 bpd, citing factors such as heating oil restocking.

China Now World's Top Energy Consumer, Displacing U.S.

China is now the world%u2019s largest energy consumer, replacing the U.S., which had been the biggest consumer for over 100 years. According to data from the International Energy Agency, China used the equivalent of 2,252 million tons of oil last year, The Wall Street Journal reported. That figure, which is an oil equivalent for all forms of energy consumed, is 4% higher than the amount used by the U.S. in 2009.

World Oil Demand Expected to Rise 1.6% in 2011

World oil demand will rise 1.6% in 2011, driven by economic growth in developing countries, the International Energy Agency said. In its first detailed assessment of the 2011 period, the Paris-based agency forecast oil demand rising to 87.8 million barrels a day, the Associated Press reported. Demand from emerging economies such as China and India will climb 3.8% from 2010.

With Oil Up 25%, the Recovery Could Falter

With crude oil prices sloshing around near $85 a barrel, a new reality may be setting in that could threaten the recoveries of the world's major economies, according to the International Energy Agency. Crude oil futures hit 18-month highs in April as expectations rose for stronger demand.

Global oil demand forecast cut again

The dichotomy between oil demand and oil's price continues. The International Energy Agency cut its global oil demand outlook for the eighth straight...

Are speculators pushing up oil again?

Is the price of oil being artificially boosted again by speculators and investors? Driven to dizzying heights near $150 in 2008 during the recent...

Oil drops below $50 as forecast cut

There are no upsides to the current recession. Unlike previous cyclical downturns triggered by inventory adjustments, this one is anything but...