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The International Energy Agency said it expects more than 20 million EVs should be sold this year

EV sales to continue growing despite trade uncertainty

Uncertainty about trade and industrial policy triggered by US tariffs will not derail growth in sales of electric vehicles, which should account for one in four cars sold this year, the IEA said today.

Business • 14 May

The IEA said that surplus fossil fuel supplies would likely lead to lower prices and could enable countries to dedicate more resources to clean energy

'Age of electricity' to follow fossil fuel peak - IEA

The world is on the brink of a new age of electricity with fossil fuel demand set to peak by the end of the decade, meaning surplus oil and gas supplies could drive investment into green energy, the International Energy Agency said today.

Business • 16 Oct 24

The IEA said the end of a post-Covid economic bounce in China was limiting global oil demand

IEA maintains 2024 oil demand forecast, trims outlook

The International Energy Agency (IEA) kept its 2024 global oil demand growth forecast unchanged today but trimmed its 2025 estimate, citing the impact of Chinese consumption.

Business • 13 Aug 24

Global electricity demand is set to grow at its fastest pace in nearly 20 years in 2024 due to increased demand for air conditioning

Increased cooling demand to keep coal plants online - IEA

Global electricity demand is set to grow at its fastest pace in nearly 20 years this year, spurred by increasing demand for air conditioning as temperatures rise, the International Energy Agency (IEA) said in a report today.

Business • 19 Jul 24

Trucks haul away ore from a pit in Tenke Fungurume Mine in the Democratic Republic of Congo, one of the largest copper and cobalt mines in the world

IEA warns of key energy mineral shortage risk

The sharp drop in prices for minerals critical to the green energy transition is masking a looming shortage due to inadequate investment, the International Energy Agency has said.

Business • 17 May 24

Fatih Birol, executive director of the International Energy Agency, speaking at Davos 2024 today

Trade barriers can slow energy transition - IEA chief

Trade barriers can slow the world's energy transition but commerce also needs to be fair, International Energy Agency chief Fatih Birol said today, as world powers tussle over the technologies key to fighting climate change.

Business • 17 Jan 24

For 2023, the IEA has raised its growth forecast to 2.4 million barrels per day from 2.3 million bpd and moving closer to OPEC's forecast of 2.46 million bpd

Oil climbs as IEA lifts demand growth forecast

Oil prices firmed today after the International Energy Agency (IEA) raised its demand growth forecasts, adding to bullish sentiment from the previous day's OPEC guidance, while US data showed inflation in the world's biggest economy was slowing.

Business • 14 Nov 23

IEA said global temperatures could rise by around 2.4C this century

Fossil fuel use still 'far too high', says IEA

The International Energy Agency has warned that energy policies must evolve if global warming is to be limited to 1.5 degrees Celsius above pre-industrial levels, saying fossil fuel use is still "far too high".

Climate Change • 24 Oct 23

Palestinian militants fire rockets towards Israel from Rafah

IEA says risk of oil supply disruptions is limited

The International Energy Agency said today the risk of oil supply disruptions due to the conflict between Israel and Hamas is limited but that it stands ready to intervene in markets if necessary.

Business • 12 Oct 23

The IEA's annual medium-term gas market outlook said global gas demand was on course to increase by an average of 1.6% a year from 2022 to 2026

Natural gas demand set for slower growth to 2026 - IEA

Global natural gas demand is expected to experience slower growth to 2026 after peaking in mature markets such as Europe and North America in 2021, a report by the International Energy Agency (IEA) said today.

Business • 10 Oct 23

IEA has lowered its forecast for growth of the first time this year, by 220,000 barrels per day, to 2.2 million bpd

IEA cuts 2023 oil demand forecast on economic headwinds

Oil demand is set to hit a record high this year and the market is tightening but economic headwinds and interest rate hikes have deflated growth expectations slightly, the International Energy Agency said.

Business • 13 Jul 23

The IEA said that for every dollar invested in fossil fuels, about $1.70 is now going into clean energy

Solar power to overtake oil production investment - IEA

Investment in clean energy will extend its lead over spending on fossil fuels in 2023, the International Energy Agency said today, with solar projects expected to outpace outlays on oil production for the first time.

Business • 25 May 23

The International Energy Agency warned that deep output cuts announced by OPEC+ producers could exacerbate an oil supply deficit and hurt consumers

Oil gains after IEA sees demand rising to record high

Oil prices rose today and were headed for a fourth week of gains in a row after the West's energy watchdog said it expected global demand to rise to a record high this year on the back of a recovery in Chinese consumption.

Business • 14 Apr 23

International Energy Agency head Fatih Birol is at Davos this week

IEA's Birol expects tighter energy markets in 2023

International Energy Agency (IEA) head Fatih Birol said today that energy markets could be tighter in 2023, adding he hoped prices would not rise further in order to ease the pressure on energy-importing developing countries.

Business • 19 Jan 23

Greta Thunberg spoke on the sidelines of the WEF with fellow activists

Energy firms throwing people 'under the bus' - Thunberg

Swedish climate activist Greta Thunberg has accused attendees of the World Economic Forum in Davos of "fuelling the destruction of the planet" as she arrived at the event in the Swiss Alps.

Business • 19 Jan 23

Oil pumping jacks in operation in an oilfield near Almetyevsk, Russia (file pic)

IEA predicts 2025 peak in global fossil fuel emissions

The International Energy Agency (IEA) said it believes global energy emissions will peak in 2025 as surging prices due to the Russian invasion of Ukraine propel investment in renewables.

World • 27 Oct 22

International Energy Agency (IEA) head Fatih Birol

World is in its first truly global energy crisis - IEA

Tightening markets for liquefied natural gas (LNG) worldwide and major oil producers cutting supply have put the world in the middle of "the first truly global energy crisis", the head of the International Energy Agency said today.

Business • 25 Oct 22

The IEA has downgraded its oil demand growth estimates slightly for this year to 1.9 million bpd and by 470,000 bpd in 2023 to 1.7 million bpd

Oil prices rise on low diesel stocks ahead of winter

Oil prices traded about $1 higher today, reversing course as low levels of diesel inventory ahead of winter helped investors shrug off higher-than-expected stocks of crude and gasoline.

Business • 13 Oct 22

The IEA has raised its outlook for 2022 demand by 380,000 barrels per day

Oil rises as IEA hikes 2022 demand growth forecast

Oil prices rose by over 1% today after the International Energy Agency raised its oil demand growth forecast for this year as soaring gas prices drive some consumers to switch to oil.

Business • 11 Aug 22

The IEA is made up of 31 mostly industrialised countries - but not Russia

IEA to release 120 million barrels of oil over 6 months

The International Energy Agency (IEA) has listed members' contributions to a 120-million-barrel release of crude and oil products from emergency stockpiles aimed at cooling global oil prices following Russia's invasion of Ukraine.

Business • 08 Apr 22

The International Energy Agency (IEA) in Paris agrees that when done on a large scale, small behavioural changes can significantly reduce gas and oil demand

Europe told 'turn down the heat' in Russia gas standoff

Fears of a Russian gas supply crunch prompted some European countries today to ask people to consume less energy in a move that could potentially yield big results.

Business • 30 Mar 22

Russia - the world's biggest exporter of oil - has been hit with a slew of international sanctions over the war in Ukraine

IEA cuts oil demand outlook, fears Russia supply shock

The International Energy Agency cut its world oil demand forecast for 2022 today, warning that sanctions against Russia over its invasion of Ukraine could spark a global supply "shock".

Business • 16 Mar 22

The precise timing and nature of the release is "yet to be determined."

Ireland to release 222,000 barrels of oil from NORA

In a statement to RTÉ News this afternoon, the Department of the Environment, Climate and Communications confirmed that Ireland will release 222,000 barrels of oil from the National Oil Reserves Agency (NORA) as part of a co-ordinated action by the International Energy Agency (IEA).

Business • 07 Mar 22

Gas demand rebounded last year as the world economy recovered from Covid

High gas prices to hit demand in 2022 - IEA

Demand for natural gas is expected to fall sharply in Europe and slow in Asia this year as prices have rocketed to record heights, the International Energy Agency said today.

Business • 31 Jan 22

The IEA warned of 'a looming mismatch' between new climate ambitions and the availability of critical minerals

Shortage of key minerals could delay low carbon switch

A shortage in critical minerals could delay, and make more expensive, transitions to low carbon emission energy and transport systems.

Climate Change • 10 May 21