The International Energy Agency (IEA) released its World Energy Report for February on Tuesday, saying global oil markets are generally calm and that supply will outpace demand in the first half of 2023. But with the economy and demand recovering, Russian oil production curtailing and U.S. and Europ

OPEC oil production fell in January as Iraqi exports fell, Nigerian output failed to recover further and Gulf members continued to stick closely to OPEC's deal to cut output, a survey showed on Tuesday. OPEC produced 28.87 million barrels per day (BPD) for the month, down 50,000 BPD from December, t

Global oil demand is expected to reach a record 101.7 million barrels a day this year, well above pre-pandemic levels, according to a report released by the International Energy Agency (IEA) on January 18, local time.In its report, the IEA said it has raised its forecast for global oil demand growth