Special to WorldTribune.com Saudi Arabia’s continued flooding of the crude oil market has ushered in cheap prices that could stop the U.S. shale energy industry’s growth in its tracks, according to the International Energy Agency (IEA). High-cost producers like U.S. shale drillers are likely to see the biggest drop in output in nearly a quarter […]
Special to WorldTribune.com LONDON — Iran has reached a record in crude oil exports. The International Energy Agency said Iranian oil exports reached a one-year high in January and February. The Paris-based agency said Iran’s biggest clients were in East Asia as Teheran exported 1.3 million barrels per day. “Higher Iranian imports in recent months […]
Special to WorldTribune.com LONDON — The global demand for oil was expected to increase in 2014. The International Energy Agency revised its forecast for global oil demand this year. The Paris-based agency, citing an economic recovery by several countries, said demand would increase to 92.6 million barrels per day. “Far from drowning in oil, markets […]
Special to WorldTribune.com ANKARA — Regional rivalries have threatened energy projects in the Mediterranean Sea. The International Energy Agency warned that challenges by Lebanon and Turkey threaten major energy projects by Israel and the Republic of Cyprus. The Paris-based organization said the emerging conflict over reserves could stop the exploration of an estimated 10 trillion […]
Special to WorldTribune.com LONDON — Despite reduced tension with Iran, global oil prices were expected to remain high throughout 2012. The International Energy Agency (IEA) said oil prices would remain high amid rising demand. The Paris-based agency said demand would increase in China and Japan with a decline reported in Europe and the United States. […]