IEA

IEA members could release more oil stocks ‘as and if needed,’ agency chief says

More than 1.4 billion barrels remain in members’ emergency oil stocks

International Energy Agency (IEA) executive director Fatih Birol speaks during a press conference in Istanbul, Turkey on Mar 12.

Iran war is causing biggest-ever oil market disruption, IEA says

The conflict will slash global oil supply by eight million barrels a day this month

Brent crude surged above US$100 a barrel again on Thursday (Mar 12).

Oil surges above US$100 again as Iraq halts ports, IEA release fails to quell rally

The IEA has recommended the release of 400 million barrels of oil, the largest such move in its history

The Thailand-flagged cargo ship Mayuree Naree engulfed in black smoke in the Strait of Hormuz on Mar 11.

Iran fires back at bases and ships despite war’s most intensive strikes

Israel believes new Supreme Leader Mojtaba Khamenei has been injured early in the war

 Orsknefteorgsintez oil refinery in Russia. The supply of oil has outpaced demand because Opec+, which includes Russia, began boosting its output in April 2025 after years of cuts.

World oil market faces major surplus in first quarter: IEA

It forecasts that the global oil supply will exceed demand by 4.3 million barrels a day, equal to 4% of the world demand

The outlook matters because there’s little sign of oil demand peaking soon, meaning that elevated output will be needed for years to come.

World must spend US$540 billion a year looking for oil and gas: IEA

The outlook also means that companies will need to tap reserves that have not yet been discovered

Fatih Birol, executive director of the International Energy Agency, said in Amundi's World Investment Forum in Paris that access to secure and clean sources of energy for data centres will determine the winners in AI.

Critical minerals are the new battlefront of energy security, says IEA chief

Average market share of top 3 mining countries for key energy materials has risen from 73% in 2020 to 77% in 2024

The IEA revised its overall 2025 demand growth forecast higher by 20,000 barrels per day (bpd) to 740,000 bpd in its May report, with growth slowing to 650,000 bpd for the rest of this year, from 990,000 bpd in the first quarter.

IEA predicts slower oil demand growth for the rest of 2025

Lower oil prices stemming from trade tensions and rising output are impacting US shale output growth