Russia is the world's main supplier of oil and gas, and potential sanctions and retaliatory measures could have big implications for the entire energy market, said IEA chief Fatih Birol Fatih Birol The world is experiencing the first global crisis in history in energy, said the head of the International Energy Agency (IEA) Fatih Birol … Continue reading The head of the IEA announced the first global energy crisis

In its latest report — which did not take into account an oil price war after Saudi Arabia and Russia failed to agree to continue production cuts — the IEA chopped its current demand forecast by 1.1 million barrels per day (mbd) in its base case scenario as the coronavirus continues to spread around the … Continue reading ‘Covid-19 to cause 1st decline in oil use in decade’