Will the Historic Decisions Bring the Oil Industry Back From the Brink?

The IEA Oil Market Report (OMR) is one of the world’s most authoritative and timely sources of data, forecasts and analysis on the global oil market – including detailed statistics and commentary on oil supply, demand, inventories, prices and refining activity, as well as oil trade for IEA and selected …

Oil Price Volatility Will Give a Boost to Renewables

Everyone loves low prices, but what the business community values most of all is predictability. The recent volatility in global oil markets — spearheaded by a fight to the death between Saudi Arabia and Russia — has sent the price of oil plunging to lows not seen in years. You …

Oil and Gas Industry Needs to Step Up Climate Efforts Now

Oil and gas companies are facing a critical challenge as the world increasingly shifts towards clean energy transitions. Fossil fuels drive the companies’ near-term returns, but failure to address growing calls to reduce greenhouse gas emissions could threaten their long-term social acceptability and profitability. The oil and gas industry now …

Campaigners Try Again to Stop Norway Drilling for Oil in Arctic

Climate campaigners are taking Norway’s government back to court to oppose its plans to open the Arctic for oil drilling despite a public commitment to tackle the environmental crisis. Greenpeace Nordic and Norway’s Nature and Youth organisation will appeal on Tuesday against the government’s decision to allow oil exploration in …

Oil Market Report: Economic Woes Hold Sway Over Geopolitics

While geopolitical tensions in the Middle East Gulf remain high, with US sanctions recently extended to more Iranian officials and a Chinese oil importer, as well as another tanker seizure, oil prices (Brent) have eased back from the most recent high of $67/bbl. Shipping operations are at normal levels, albeit …

IEA Launches New Tool for Tracking Oil and Gas-Related Methane Emissions Worldwide

The International Energy Agency has launched a new online tool that tracks oil and gas-related sources of methane, a major and often overlooked greenhouse gas. The new “methane tracker” offers the most comprehensive global picture of methane emissions, covering eight industry areas across more than seventy countries. This new and …