Tag Archives: IEA

Oil industry faces boom-and-bust, warns IEA energy group

A new oil industry boom-and-bust cycle is likely if the current reduction in new investment is not reversed, says the International Energy Agency. The IEA says unless more money is spent exploring for, and developing, new oil fields, then demand may outstrip supply in the early years of the next decade. That could see oil prices surging again,… Read More »

Oil inches up after mixed IEA report ahead of Doha meeting

Oil prices rose slightly on Thursday in choppy trade as the market processed a mixed report from the International Energy Agency (IEA) and skepticism that an upcoming meeting of major producers would do much to tighten the supply demand balance. Brent crude futures LCOc1 were up 17 cents at $44.35 a barrel by 12:20 p.m. EST (1620 GMT).… Read More »