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IEA

US to overtake Russia as top oil producer by 2019

TOKYO: The United States will overtake Russia as the world’s biggest oil producer by 2019 at the latest, the International Energy Agency (IEA) said on Tuesday, as the country’s shale oil boom continues to upend global markets. IEA…

Sunny future for renewables thanks to China: IEA

PARIS: Solar energy is to lead the race to new power generation over the coming decades, thanks in large part to China and India, the International Energy Agency said on Tuesday. The IEA's annual World Energy Outlook report said that,…

OPEC output cut may hasten oil market rebalance: IEA

SINGAPORE: The oversupplied oil market will be rebalanced earlier than expected if major crude producers implement a deal to cap output when they meet next month, the International Energy Agency chief said Tuesday. Under current…

IEA says worst may be over for oil price

PARIS: The oil price may have finally bottomed out after an unprecedented drop over the past 18 months, the International Energy Agency (IEA) said Friday, noting oil's "remarkable recovery" over recent weeks.

Ample crude supples until mid-2016: IEA chief

SINGAPORE: The head of the International Energy Agency said Monday that ample supplies of oil in the world market would extend into the middle of next year, while investment is expected to decline further because of persistently low prices.