IEA

According to the International Energy Agency, the world is oversupplied with oil by around 1.5 million barrels per day and this glut is only expected to expand. The IEA estimated that in the near term the world will be oversupplied with 1.75 million barrels per day. The agency cited increased...

The International Energy Agency cut the estimate of crude oil production from OPEC countries by 300,000 barrels a day, with consumption increasing by 230,000 barrels a day, less than forecast last month. Oil output from non-OPEC countries, however, is expected to expand at a faster pace than the...

The Wall Street Journal is reporting that U.S. commodity regulators are examining whether the decision to release global oil stockpiles may have been leaked prior to yesterday's announcement by the International Energy Agency. Officials at the Commodity Futures Trading Commission as well as oil...

Republicans walked out of budget talks yesterday, saying President Obama needs to step up his influence on talks of extending the debt ceiling. Federal regulators are discussing whether to issue subpoenas to Google Inc. (NASDAQ: GOOG), to inquired whether Google has abused its search monopoly....

The broader markets are plunging at the open, as the Dow is off more than 150 points, far higher than the futures had indicated. This morning, the IEA announced a coordinated release of 60 million barrels of oil in the next few months to help drive down oil prices to stimulate world economies....

The IEA just announced that it will be releasing 60 million barrels of oil over the next few months in an effort to drive down oil prices. The release is being done to ensure the supply of oil due to the war in Libya, which had negatively impacted oil prices in the past few months. The IEA is...

The Organization of the Petroleum Exporting Countries needs to raise oil output in June to avoid further price increases, the head of the International Energy Agency said Wednesday. The price of oil has jumped above $100 as global geopolitical uncertain has risen and demand has risen, particularly...

According Reuters, the Obama Administration may choose to sell oil reserves in an attempt to bring down prices and generate revenue. Currently, the U.S. has the world's largest stockpiles of emergency oil in its Strategic Petroleum Reserve (SPR). It is government policy to only release oil if there...