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Tag: International Energy Agency

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How is oil stored in the strategic petroleum reserve?

In the global energy landscape, oil remains a vital commodity, serving as a cornerstone of economic development and national security for many countries. Recognizing...

Oil prices continued their upward trajectory in Asian trading

Oil prices continued their upward trajectory in Asian trading on Monday, building upon gains observed last week, driven by the perception of tightening supply...

Oil Prices Remain Near Three-Week Highs on Middle East Tensions and China Demand

Oil prices held steady on Tuesday, remaining close to three-week highs amid increased tensions in the Middle East and a recovery in demand from...

Oil Prices Decline Amid Persistent US Inflation Concerns

Oil prices experienced a decline as market focus shifted back to demand prospects following reports of elevated producer prices in the United States, the...

Oil Prices Retreat Amid China Demand Concerns and Supply Predictions

Oil prices experienced a decline on Friday, retracing from the previous day's gains, as geopolitical tensions and disruptions in U.S. oil production were offset...

How Much Crude Oil is Trading at and Factors Influencing Prices?

Crude oil, often referred to as the lifeblood of the global economy, serves as a critical commodity with far-reaching implications on various industries and...

Oil Industry Leaders Emphasize Role of Fossil Fuels in Energy Transition

Top executives from Exxon Mobil Corp. and Saudi Aramco voiced their support for the global transition to cleaner energy sources while emphasizing the ongoing...

Oil Prices Steady as Market Awaits Monthly Oil Forecasts

Oil prices showed minimal change on Monday, with Brent crude settling at $90.64 per barrel, down just 1 cent, and U.S. West Texas Intermediate...

IEA cuts 2023 oil demand growth forecast for first time this year as global economy slows

The International Energy Agency (IEA) said on July 13 that oil demand will hit a record high this year, but economic headwinds and interest...

The IEA raised its crude oil supply forecast for this year

On June 14, the International Energy Agency (IEA) raised its 2023 oil supply forecast by 200,000 barrels to 101.3 million barrels per day, and...

What does strategic oil reserve mean?

Strategic oil reserves refer to one of the effective ways to deal with short-term oil supply shocks (large-scale reductions or interruptions). It serves national...

Difference Between EIA and IEA

IEA usually refers to the International Energy Agency. The International Energy Agency, also known as the "International Energy Agency", was established in November 1974...

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