International Energy Agency

Oil demand growth to halve in 2024: IEA

World oil supply will continue to rise this year, the International Energy Agency said Thursday, as it predicted that demand growth would continue a downward slide throughout 2024. The Paris-based IEA, which advises oil-consuming nations, said it expects increase in global oil demand to halve from 2.3 million barrels per day (bpd) last year to 1.2 million bpd in 2024. It cited economic headwinds, tighter efficiency standards and growth in […]

18 January, 2024

Environment

World added 50% more renewable energy but more needed: IEA

The world added 50 percent more renewable energy capacity in 2023 over the previous year but more is needed in the battle against climate change, the International Energy Agency said Thursday. The increase was the fastest growth rate in the past two decades and the 22nd year in a row that renewable capacity additions set a new record, the Paris-based IEA said. The rise was driven by China, the planet's […]

11 January, 2024