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IEA: The Next Oil Price Shock Could Be To The Upside
Wednesday, March 23, 2016 - 2:00pm | 366Read More...While most of the talk surrounding oil in recent years has been about how low prices can go, the International Energy Agency (IEA) believes the next major price shock in coming years could be to the upside. Slumping oil prices and a massive global crude oil supply glut have lead to historic...
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IEA: Oil Supply Glut To Widen In 2016
Tuesday, February 9, 2016 - 12:38pm | 165Read More...According to the International Energy Agency, the world is oversupplied with oil by around 1.5 million barrels per day and this glut is only expected to expand. The IEA estimated that in the near term the world will be oversupplied with 1.75 million barrels per day. The agency cited increased...
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IEA Projects $80 Oil By 2020
Tuesday, November 10, 2015 - 11:48am | 435Read More...The IEA’s newest projections call for $80/bbl oil by 2020. The agency projects that emerging markets will drive global oil demand to 103.5 million bpd by 2040. The IEA projects that oil investment cuts will spill over into 2016. The International Energy Agency (IEA) released its...
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Oil Traders Take Profits As OPEC Lowers Production Projections
Monday, October 12, 2015 - 2:40pm | 392Read More...OPEC now projects negative non-OPEC global oil production growth in 2016. OPEC believes the oil market is now moving toward a more balanced state. WTI crude is trading down on Monday after a strong rally in recent weeks. On Monday, OPEC joined the International Energy Agency (IEA) in predicting...
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IEA Cuts Oil Production Forecast
Friday, December 12, 2014 - 9:22am | 124Read More...The International Energy Agency cut the estimate of crude oil production from OPEC countries by 300,000 barrels a day, with consumption increasing by 230,000 barrels a day, less than forecast last month. Oil output from non-OPEC countries, however, is expected to expand at a faster pace than the...
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Markets Unable To Hold On To Gains As Oil Continues To Plunge
Tuesday, October 14, 2014 - 4:47pm | 2414Read More...U.S. markets ended the day mostly flat after giving up earlier gains. The Dow traded higher by 142 points before ending the day in negative territory. The S&P 500 and Nasdaq indices closed the day almost unchanged. The CBOE Volatility Index fell 7.5 percent to 23.79. Airline stocks traded...
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IEA Report Indicates Trouble For OPEC
Friday, August 9, 2013 - 3:59pm | 421Read More...The International Energy Agency published its oil market report for August, recapping recent oil action and revising 2014 demand down. The agency expects demand of 29.8 million barrels per day for 2014, up 1.1 million from 2013, but lower than their original expectations. The elevated 2014...
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The 10 Best Financial Tweets For Thursday, July 25
Thursday, July 25, 2013 - 1:37pm | 1451Read More...There are millions of tweets written every day. Benzinga sifts through the maelstrom of information to find the ten best tweets of the day that are either informative, insightful, or just down right comical. 1. Carl Icahn Carl Icahn (@Carl_C_Icahn) took to Twitter to tweet his displeasure...
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Suspicious Oil Trading Ahead Of Yesterday's Release Of Reserves
Friday, June 24, 2011 - 3:32pm | 168Read More...The Wall Street Journal is reporting that U.S. commodity regulators are examining whether the decision to release global oil stockpiles may have been leaked prior to yesterday's announcement by the International Energy Agency. Officials at the Commodity Futures Trading Commission as well as oil...
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Benzinga Political Roundup June 24, 2011
Friday, June 24, 2011 - 12:07pm | 162Read More...Republicans walked out of budget talks yesterday, saying President Obama needs to step up his influence on talks of extending the debt ceiling. Federal regulators are discussing whether to issue subpoenas to Google Inc. (NASDAQ: GOOG), to inquired whether Google has abused its search monopoly....
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Stocks Plunging At Open
Thursday, June 23, 2011 - 9:35am | 104Read More...The broader markets are plunging at the open, as the Dow is off more than 150 points, far higher than the futures had indicated. This morning, the IEA announced a coordinated release of 60 million barrels of oil in the next few months to help drive down oil prices to stimulate world economies....
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IEA Releasing 60 Million Barrels Of Oil In Coming Months
Thursday, June 23, 2011 - 9:15am | 149Read More...The IEA just announced that it will be releasing 60 million barrels of oil over the next few months in an effort to drive down oil prices. The release is being done to ensure the supply of oil due to the war in Libya, which had negatively impacted oil prices in the past few months. The IEA is...
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OPEC Needs to Raise Oil Output: International Energy Agency (USO)
Wednesday, April 20, 2011 - 5:11am | 220Read More...The Organization of the Petroleum Exporting Countries needs to raise oil output in June to avoid further price increases, the head of the International Energy Agency said Wednesday. The price of oil has jumped above $100 as global geopolitical uncertain has risen and demand has risen, particularly...
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U.S. May Dip Into Reserve Oil Supply
Monday, March 7, 2011 - 2:17pm | 277Read More...According Reuters, the Obama Administration may choose to sell oil reserves in an attempt to bring down prices and generate revenue. Currently, the U.S. has the world's largest stockpiles of emergency oil in its Strategic Petroleum Reserve (SPR). It is government policy to only release oil if there...
