All articles tagged with #iea
The IEA warns that global electricity demand is surging beyond emerging economies, driven by renewable growth and electrification, with significant implications for energy security and climate goals, despite political setbacks like the US's withdrawal from the Paris Agreement.
The International Energy Agency now projects that global oil consumption could continue to grow until 2050, driven by slower electric vehicle adoption and increased natural gas use, challenging previous expectations of peak demand and raising concerns about climate change impacts.
The International Energy Agency predicts that global oil and gas demand could continue to grow until 2050 under current policies, with no peak expected before then, and warns that the world is unlikely to meet the 1.5°C temperature rise limit without significant technological advancements. Despite recent shifts towards clean energy, existing policies suggest energy demand will increase, and LNG capacity is set to expand significantly, driven by rising power sector needs and data center growth.
The IEA's latest report indicates that global oil and gas demand will continue to rise through 2050 under current policies, with less momentum for emission reductions despite growth in renewables and electric vehicles, leading to minimal CO2 emission cuts and rising climate risks.
The IEA's latest outlook indicates that global fossil fuel use is expected to peak before 2030 under current policies, with coal near or at peak, oil around 2030, and gas by 2035, while renewable energy sources like solar and wind continue to grow rapidly. However, if policies are abandoned, global warming could reach 2.9°C by 2100, highlighting the importance of policy commitments for climate mitigation.
The International Energy Agency (IEA) predicts that global demand for oil and gas will continue to rise for the next 25 years unless significant changes are made to address climate issues, highlighting a concerning outlook for energy and environmental sustainability.
The IEA has lowered its forecast for global renewable power capacity growth by 2030 to 4,600GW, citing weaker outlooks in the US and China due to policy changes and economic factors, which may hinder the global goal of tripling renewable energy use by 2030. However, growth prospects remain positive in India, the Middle East, North Africa, and parts of Europe, with solar power leading the expansion.
The International Energy Agency predicts that global oil supplies will significantly exceed demand in 2025, leading to increased inventories, despite geopolitical tensions in the Middle East. Supply growth is driven by Opec+ and non-Opec+ producers, while demand growth is restrained by weak consumption in China and the US. The IEA also forecasts that oil supply will continue to outpace demand through 2030, with China's demand peaking around 2027.
Global investment in clean energy is projected to reach $2.15 trillion in 2025, nearly double the $1.15 trillion spent on fossil fuels, indicating a strong and ongoing shift towards renewable energy sources, with the trend expected to continue and potentially meet the $4.5 trillion annual investment needed to achieve net zero by 2050.
The International Energy Agency (IEA) reports that global renewable energy capacity additions surged by 64% in 2023, with China leading the way. Despite this progress, only 14 out of 194 countries have set explicit 2030 renewable capacity targets in their Nationally Determined Contributions (NDCs) under the Paris Agreement. The IEA's analysis suggests that if countries include all existing policies and plans in their updated NDCs, they could achieve 70% of the goal to triple global renewable capacity by 2030. Key challenges remain, including project permit delays and inadequate grid infrastructure investment.
Crude oil prices continue to rise in Asian trade, driven by supply concerns and bullish sentiment following an IEA report forecasting a swing into deficit and higher demand growth. Ukrainian drone attacks on Russian refineries have added a risk premium to crude prices, while geopolitical tensions between Israel and Hamas further contribute to market uncertainty. Traders are also keeping an eye on the upcoming Fed meeting and the start of CERAWeek in Houston.
The International Energy Agency predicts a supply deficit in global oil markets through 2024 if OPEC+ maintains production cuts, with Saudi Arabia and its partners extending curbs on roughly 2 million barrels per day until mid-2024, potentially balancing oil markets.
The International Energy Agency (IEA) has raised its 2024 global oil demand growth forecast for the third consecutive month, now projecting a rise of 1.2 million barrels per day (bpd) compared to 2023, citing macroeconomic headwinds and an expanding electric vehicle fleet. Meanwhile, OPEC expects robust world oil demand growth of 1.8 million bpd in 2025, with higher global economic growth and solid activity in China contributing to the outlook.
The International Energy Agency (IEA) has indicated a "substantial surplus" of oil for this year due to a slowdown in demand growth, reflecting concerns about the impact of the Omicron variant on the global economy. This surplus is expected to put pressure on the energy market and could lead to challenges for oil-producing nations.
The International Energy Agency (IEA) has raised its 2024 global oil demand growth forecast by 180,000 barrels per day (bpd), but it remains lower than OPEC's projection, with world supply growth expected to exceed demand growth. The IEA sees a potential supply surplus in the second quarter if OPEC and its allies unwind output cuts as scheduled, and attributes the demand growth revision to improving global economic growth, lower crude prices, and China's expanding petrochemicals sector. The agency expects world oil supply to rise to a new high of 103.5 million bpd in 2024, fueled by record-setting output from the United States, Brazil, Guyana, and Canada, while rising geopolitical tensions in the Middle East have raised concerns about potential disruptions to oil flows.