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opportunities in the CO2 marketRisks and opportunities in the CO2 marketVenezuela Signs Oil Deals With SLB and Hunt to Boost ProductionChinese Oil Tankers Turn Back as Hormuz Risks Mount
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Trending News: Qatar ‘cuts government budget’ as LNG income collapsesIndia Boosts Battery Investment to Cut Solar Power WasteIranian Oil Supply to China Is Rapidly Drying UpNigeria Eyes $50 Billion Offshore Oil and Gas Investment BoomEast African Nations Offered 30% Share of Dangote’s Kenya Mega-RefinerySaudi Oil Exports from Mediterranean Soar with Shuttles North to Avoid HouthisUkrainian Drone Attack Hits Lukoil Refinery Deep in Russia China’s Teapots Look Beyond Iranian Oil amid U.S. BlockadeCourt Upholds Trump Admin Order to Restart SYUWhisky waste-to-biomethane plant to meet 4% of Scotland’s gas demandCCS projects could put pressure on US Midwest CO2 supplyCO2 tightness hits US Southeast as brewers halt productionCO2 tightness hits US Southeast as brewers halt productionCO2 tightness hits US Southeast as brewers halt productionUS end users should embrace RNG as a source of CO2US end users should embrace RNG as a source of CO2Weekly Tech Insights: LONGi Advances Hi-MO X10 & Hi-MO 9, Growatt Explores Floating Solar, JinkoSolar Expands Sunny 365 Solar-Storage, Hoymiles Powers Rooftops with MIT-5000-8TChina Is Squeezing India Out of Russia’s Oil TradeWashington Eases Gasoline Rules as Iran Pressure Campaign Jolts Fuel CostsOil Prices Head for Second Straight Weekly Gain as Iran Risks MountAustralia’s Beetaloo Shale Basin Is About to Start Pumping GasChina’s Oil Imports Set to Rebound as Refiners Hunt for New SupplyGreen Energy Stocks Show Mixed Performance As Indian Markets Trade Flat (21 August 2026)US AFET credit for LNG tankers under scrutinyUS AFET credit for LNG tankers under scrutinyUS AFET credit for LNG tankers under scrutinyMalaysia Revises NEM 3.0 Rules For Residential And Government Solar InstallationsSpark Raises €2 Million To Expand Off-Grid Solar Access Across Sub-Saharan AfricaUK’s Grosvenor Farms invests in biogas and biomethaneSaudi Arabia Signs Four BESS Agreements Worth SAR 4.35 Billion For 2,000 MW Storage CapacityBajel Projects’ AGPOPL Wins Gujarat TBCB Project for 270 km of 765 kV Transmission LinesCan era of US LNG abundance boost global energy security?Continental Resources Expands Permian FootprintOil prices rise toward $94 as U.S. prepares new Iran economic measuresIAEA project focuses on research reactor testing of fuels and materialsDoosan Enerbility contracted for Natrium componentsRussia plans to add 30 GW nuclear capacity, expand exportsBlue Ghost to carry nuclear power source to the MoonCoking Coal Prices Surge 25%, Squeezing India’s SteelmakersCoal India Ventures into Critical Minerals TradingTajikistan Turns to Iran for Oil as Russian Fuel Supply CollapsesElevated Oil Prices Push Japan’s Imports to an All-Time HighMiddle East Oil Crisis Sends Supertanker Prices to Record HighsHas Iranian Crude Become Irrelevant to Global Oil Supply?Trump Threatens “Tremendous” Consequences for Countries Helping IranBrent Oil Price Tops $93 as U.S.-Iran Impasse PersistsADNOC Issues Ninth Spot Crude Tender Since June as UAE Boosts ExportsEIA Sees Oil Crunch in 2026, Glut in 2027Renergen starts commissioning at South African helium projectPertagas and Renikola move ahead with Indonesia’s first biomethane-to-grid projectCompany profile: AtocoNovaAir starts up new Malaysia ASUIndia Daily: Tata Steel Gets 50 MW Solar Nod, FAGMIL Tenders 2.52 MW Solar, Mahindra Susten Secures ₹875 Cr, Kerala Ratifies 103 MW Banking Deal, KSERC Clears Nine Power Swaps and More…Solar & Storage Leadership Forum 2026: Tanzania Concludes as a Grand Success in Dar es Salaam  Indian Stock Market Gains As Green Energy Stocks Lead Selective Rally (20 August 2026)Blue Star Helium capitalises on volatility and outlines drilling and CO2 plansAMPIN Energy Secures USD 195 Million for 100 MW Solar-Wind-BESS Project in Andhra PradeshMesser invests $40m to support Vietnam’s semiconductor boomSaudi Aramco Gives Full September Oil Allocations to 3 European RefinersFire Breaks Out at Rosneft-Owned Refinery After Ukrainian Drone StrikeWorld’s Largest Electric Plane Flies for 27 Minutes on $5 of PowerChinese Refiners Snap Up Iraqi Oil as Gulf Supply Routes FractureDEWA Integrates Environmental Stewardship Into Dubai’s Clean Energy ProjectsASEAN Power Grid Delay Beyond 2035 Could Cost Southeast Asia $2.6 Billion Annually, Increase Gas Use and Stall Solar Deployment: EmberSunScout And Alta Renewables Partner For 87.5 MW Solar-Plus-Storage Portfolio In PhilippinesHeidelberg’s Edmonton cement CCUS project faces delaysDr. Florian Wessendorf on the Middle East’s Next Solar Growth Era Powered by Storage, AI and Smart GridsSolarAfrica Secures R1.5 Billion Financing For 114 MW Suncentral 2 Solar ProjectEskom Drops Fines And Disconnection Threats For Unregistered Rooftop Solar Systems In South AfricaU.S. Orders Emergency Operation Of Wagner Unit 4 To Protect Mid-Atlantic Grid ReliabilityIndia’s Battery Cell Manufacturing Faces 10–15 Year Gap to Self-Sufficiency: Wood MackenzieBiomethane ‘best case’ supply could reach 52 bcm by 2030UERC Rejects UJVN Review, Upholds Renewable Energy And BESS Trading Margins In UttarakhandBuilding Domestic Polysilicon Capacity Is Key to India’s Integrated Solar Manufacturing EcosystemHindustan Power Achieves Financial Closure for 435 MWp Solar Project in Uttar PradeshOyster Renewable Signs Binding Term Sheet With Kutch Chemical for 25.2 MW Wind-Solar Hybrid RTC Project in GujaratRERC Recognizes GST Hike As Change In Law For 600 MW Solar Project In RajasthanMERC Approves Rooftop Solar For 2.11 Lakh Low-Income Households In MaharashtraIEEFA Calls for Thailand Rooftop Solar Policy Reforms to Cut LNG Dependence and Electricity CostsKSERC Ratifies Nine KSEB Power Banking And Swap Arrangements In KeralaKerala Regulator Ratifies 103% Power Banking Deal With ChhattisgarhJSERC Approves Tata Steel’s 50 MW Solar Power Procurement From SECI In JharkhandEuropean Heatwaves Push Electricity Demand Up 28%; Solar Output Climbs 17% in France and Hungary, Ember FindsThe smarter E South America 2026: Accelerating Latin America’s Integrated Energy TransitionFAGMIL Invites Bids For 2.52 MW Solar Project Under PM-KUSUM In RajasthanFirst Solar Backs U.S. Section 232 Action on Polysilicon Imports to Strengthen Domestic Solar Supply ChainVoltalia Announces Proposed €120 Million IFC Investment to Support Solar and BESS ExpansionEurope’s Solar Manufacturing Capacity Set For Major Expansion To 88.2 GW By 2030 – ReportMahindra Susten Secures INR 875 Crore Financing For 150.80 MW Maharashtra Hybrid ProjectAvangrid Generates 13,891 GWh in H1 2026, Boosted by Solar Projects as U.S. Installed Capacity Surpasses 11 GWSecond US port to explore nuclear maritime technologiesFurther Chinese order for Doosan Enerbility forgingsAtomic Canyon launches virtual assistant for US nuclear fleetBruce Power gets go-ahead for isotope processingTrump Dangles Keystone XL Revival as Canada Tariff Deadline LoomsUAE Freezes Trade With Iran After Missiles Fall Near Its CoastWebinar preview: Risks and opportunities in the CO2 marketRisks and opportunities in the CO2 marketVenezuela Signs Oil Deals With SLB and Hunt to Boost ProductionChinese Oil Tankers Turn Back as Hormuz Risks Mount
Mon. Aug 24th, 2026

IEA chief Birol Sees ‘Comfortable’ Oil Markets, Unless Geopolitical Shock

Equinor's Autumn Conference 2024
Executive Director of International Energy Agency (IEA) Fatih Birol gives a speech during Equinor’s Autumn Conference 2024 at Det Norske Teater in Oslo, Norway November 26, 2024. Thomas Fure/NTB/via REUTERS

(Reuters) – The supply of oil and gas will be plentiful, with oil markets being “comfortable” this year and next unless major geopolitical escalation happens, the head of the International Energy Agency (IEA) Fatih Birol told a conference in Norway on Tuesday.

Global oil supply will exceed demand in 2025 even if OPEC+ cuts remain in place, the IEA said on Nov. 14 as rising production from the United States and other outside producers outpace sluggish demand.

The prospect of excess supply is a headwind for OPEC+, which comprises the Organization of the Petroleum Exporting Countries and allies such as Russia, in its plan to start raising output.

“This year and next year, we expect comfortable oil markets unless a major geopolitical escalation happens,” Birol said on Tuesday. “There will be plenty of oil and gas.”

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