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World Energy Outlook

10 November 2015, Xinhua News Agency

The IEA has warned that if the current low oil prices persist, world energy security would be threatened due to the reduced investment and increased reliance on several oil producers with low exploration cost in the Middle East. In the regional distribution picture of oil demand, the developing economies in Asia are expected to be the primary drivers of growth. China is currently in the process of transforming its economy towards less energy intensive sectors, a decision that is expected to re-shape the world energy market.

10 November 2015, Nikkei

On 10 November the IEA released World Energy Outlook 2015. It projects that excess supply will continue for the moment in the oil market due to factors such as increased production from OPEC, but that the market will rebalance by around 2020, toward which the prices will go up to $80/bbl.

10 November 2015, El Pais

The fall in oil prices has put in motion the forces that drive the market to rebalance, increasing demand while supply growth slows. Although the self-adjustment mechanism in the oil market is usually not without obstacles, the price of crude oil will return to $80/bbl by 2020 from the current $47/bbl. That is the main scenario which the International Energy Agency (IEA) considers and was presented in London on Tuesday in its annual report on the energy sector. The IEA warns of the risks of a prolonged period of low prices.

10 November 2015, Le Parisien

The share of coal in the global energy mix will decline while the share of non-hydro renewable energies will increase in the same proportion. The link between economic growth, energy demand and GHG emissions is becoming weaker. GDP will increase by 150% from now until 2040, while global energy demand will only increase by a third over the same period thanks to energy efficiency.

10 November 2015, Bloomberg

The plunge in oil prices risks undermining efforts to reduce the pollution blamed for global warming, especially projects designed to wring more from each barrel of oil, the International Energy Agency concluded in its annual assessment of markets. “Lower prices are not all good news for consumers,” the Paris-based institution wrote in its annual World Energy Outlook released Tuesday.“Longer payback periods mean that the world misses out on almost 15 percent of energy savings.”

10 November 2015, CNBC

Oil prices are set for a slow recovery, according to the latest report from International Energy Agency (IEA), which cautioned against the deep investment cutbacks in the industry. IEA Executive Director Fatih Birol told CNBC the organization did not think a world in which the price of oil was stuck at $50 for "many many years" was a likely scenario.

10 November 2015, New York Time

Even as the world shifts toward lower-carbon forms of energy, the changes are happening too slowly to keep global temperatures from rising to dangerous levels in the coming decades, an international research group warns in a report released on Tuesday. “Now is not the time to relax,” Fatih Birol, the agency’s executive director, said in a statement accompanying the report

10 November 2015, Financial Times

In its closely watched annual outlook, the International Energy Agency said oil demand would rise by less than 1 per cent a year between now and 2020, a slower pace than necessary to quickly mop up an oil glut that has driven prices to multiyear lows. “We are approaching the end of the single largest demand growth story in energy history,” Fatih Birol, executive director of the IEA, told the Financial Times ahead of the launch of its long-term forecasts.

10 November 2015, Guardian

Renewable energy accounted for almost half of all new power plants in 2014, representing a “clear sign that an energy transition is underway”, according to the International Energy Agency (IEA). Green energy is now the second-largest generator of electricity in the world, after coal, and is set to overtake the dirtiest fossil fuel in the early 2030s, said the IEA’s World Energy Outlook 2015 report, published on Tuesday.

14 July 2015, Bloomberg Business

Energy Mix to Shift Because of Climate Pledges, IEA's Birol says Pledges to curb climate-warming gases by China, the U.S. and European Union will have a “material impact” on the global energy sector, International Energy Agency Chief Economist Fatih Birol said. Political momentum in the three biggest emitters makes Birol optimistic for a successful outcome at a United Nations climate summit in December in Paris, where envoys aim to broker the first deal to fight global warming that binds all nations. If pledges made by all the nations are implemented, “there will be a material impact on the energy sector,” Birol told reporters at a briefing in Beijing on Tuesday. “I am hopeful. I have two reasons. One, today’s political momentum being led by China, the U.S., Europe and other countries. And second, is the data, what is happening today.”