The International Energy Agency warned that oil and natural gas prices soaring to multi-year highs will likely stymie worldwide industrial activity, adding another ripple to the world's economic recovery
Oil and natural gas prices have soared to multi-year highs recently, sending power prices surging to record levels as widespread energy shortages hit Asia and Europe.
It made upward revisions to its demand forecasts for this year by 170,000 bpd, or a total addition of 5.5 million for the year, and by 210,000 bpd in 2022, or a total addition of 3.3 million. The sun is seen behind a crude oil pump jack in the Permian Basin in Loving County, Texas, U.S., November 22, 2019. REUTERS/Angus Mordant/File PhotoMeanwhile, the IEA estimated that producer group OPEC+ is set to pump 700,000 bpd below the estimated demand for its crude in the fourth quarter of this year, meaning demand will outpace supply at least until the end of 2021.
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
The IEA warns much more ambition is needed to curb global warmingThe IEA published its report a month early so that it could be a “guidebook” for the UN’s climate conference
Lire la suite »
Daligas becomes third UK energy supplier to collapse this weekSmall British energy supplier Daligas ceased to trade on Thursday, the regulator Ofgem said, becoming the third to collapse this week and one of a dozen to fail since September as they struggle to cope with record wholesale energy prices.
Lire la suite »
Economic collapse, energy crisis, now fear of civil war In Lebanon'We're in the midst of a ticking time bomb,' one Lebanese citizen who lives in Ein Rummaneh and witnessed the confrontation told Newsweek.
Lire la suite »
'Green' ETFs are minting some green as the energy crisis sparks a boomlet in alternativesEvery week we highlight the most timely exchange-traded fund news, from new launches to inflows and performance
Lire la suite »
Climate change: North Carolina gov signs major energy lawDemocratic Gov. Roy Cooper of North Carolina signed a milestone energy bill into law Wednesday that aims to sharply reduce greenhouse gas emissions from the state's power plants by 2030, celebrating the legislative accomplishment with Republican lawmakers. In a ceremony with legislators from both parties, Cooper enacted a consensus measure that now tasks the state Utilities Commission with coming up by the end of 2022 with the arrangements to meet the carbon dioxide reduction goals sought by the governor. At least 16 states previously have passed legislation establishing greenhouse gas emissions reduction requirements, according to the National Conference of State Legislatures.
Lire la suite »
“It looks fairly disparate but there is a theme: a lack of investment”—energy markets’ contortionsToday on “The Intelligence”: a global squeeze on energy markets, Hong Kong émigrés’ unusual story in Britain and booming business for “femtech” entrepreneurs
Lire la suite »