Oil supplies will remain tight despite record prices that have trimmed demand, according to the International Energy Agency.
Downsizing its estimate of how much oil will reach the market, the IEA predicted supply will exceed projected demand only by 2 million barrels a day.
The IEA is the energy watchdog for the Organization for Economic Cooperation and [...]

Venezuela’s state oil company wants to increase crude production by nearly 8 percent this year.
Petroleos de Venezuela SA says it hopes to produce more than 3.4 million barrels per day.
State oil company vice president Luis Vierma says the company is investing some $15 million this year — up 50 percent from 2007.
Vierma says that Venezuela [...]

The International Energy Agency said it hopes talks in Saudi Arabia later this month between oil producing and consuming nations will “convey clear messages that oil supply is going to keep pace with demand growth in the coming years.”
“We would welcome an opportunity to act collectively to reassure the market about future demand and [...]

The Energy Department and the Paris-based International Energy Agency both lowered their global oil consumption forecasts for this year amid surging prices, but said demand for oil and petroleum products is accelerating in parts of the developing world.
In its monthly short-term Energy outlook, the Energy Department’s Energy Information Administration said oil consumption is falling more [...]

The world needs to invest $45 trillion in energy in coming decades, build some 1,400 nuclear power plants and vastly expand wind power in order to halve greenhouse gas emissions by 2050, according to the International Energy Agency.
The IEA envisions an “energy revolution” that would greatly reduce the world’s dependence on fossil fuels while maintaining [...]

Iran is continuing to defy UN demands that it suspend uranium enrichment, the UN atomic watchdog said on Monday.
“Contrary to the decisions of the (UN) Security Council, Iran has not suspended its enrichment related activities,” the International Atomic Energy Agency wrote in its latest report on Tehran’s disputed nuclear drive.
In all, Iran was operating about [...]

The International Energy Agency says it is worried whether world oil supplies can meet growing demand.
The IEA’s chief economist says the organization is studying depletion rates at about 400 fields in its first study of world oil supply, and is preparing a revision of its forecasts.
Fatih Birol says the study was prompted by soaring oil [...]

The International Energy Agency, an adviser to mostly western, industrialized nations, said high prices are cutting demand for oil and petroleum products in the U.S. and Europe. The IEA cut its global oil demand growth forecast for this year to 1.2 percent from 1.5 percent. In the U.S., the IEA said demand for oil may [...]

Paris-based International Energy Agency has put coal in the future energy mix.
Due to strong demand, record oil and gas prices, concerns over energy security and a reluctance to fully bring back nuclear energy, coal has seen a resurgence in the European energy market.
It’s a trend that has been seen in the United States and Asia [...]

Crude oil prices climbed to within a penny of $114 a barrel, setting new records as concerns mounted about global supplies.
Light, sweet crude for May delivery rose as high as $113.99 a barrel for the first time on the New York Mercantile Exchange before settling at $113.79, up $2.03 from Monday’s record settlement price of [...]