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China creates two-tier oil dynamic
There is a bifurcation in the global oil market as China’s stockpiling contrasts with reduced inventories elsewhere
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A brutally honest picture about the potential role of oil and gas in 2050 should prompt policymakers to not only reflect but also change course to meet vital energy needs
OPEC+’s extra barrels mostly made of paper
Robust demand and a limited supply of additional physical barrels from key OPEC+ producers has kept the oil market in a healthy price range
Gas pricing finds a new norm
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Oil demand ramps up air miles
Jet fuel will play crucial role in oil consumption growth even with efficiency gains and environmental curbs, with geopolitical risks highlighting importance of plentiful stocks
Letter from the Middle East: Iran-Israel war risks dire straits
A blockade of the Strait of Hormuz would have reverberations that would sound around the world
IEA and OPEC energy assumptions on fragile ground
Geopolitical uncertainty casts a pall over expectations around demand, supply, investment and spare capacity
The oil risk premium fable
Israel’s attack on Iran caught oil firms with low inventories due to their efforts to protect themselves from falling prices, creating a perfect storm
Saudi Arabia and Russia pull OPEC+ in different directions
The two oil heavyweights’ diverging fiscal considerations are straining unity within the group
OPEC+ still showing restraint
Petroleum Economist analysis shows OPEC bringing back some barrels in May, but fewer than expected, while OPEC+ continues to see output fall
Fatih Birol, IEA executive director
Markets
Paul Hickin,
Editor-in-chief
22 May 2023
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IEA’s Birol sees role for oil and gas as part of ‘orderly’ energy transition

Tackling both the energy security crisis and the climate crisis means clean energy push must be secure and affordable

Energy security and energy sustainability do not always make the most comfortable of bedfellows. Concerns over sufficient oil and gas, stemming partly from the Russian invasion of Ukraine, have raised questions over the pace, cost and practicality of climate goals. But for the Paris-based IEA—the global energy authority—security of supply, environmental sustainability and increased energy cooperation around the world make up its triple-headed mission. Petroleum Economist sat down at the IEA’s headquarters with its executive director, Fatih Birol, to discuss the big energy issues facing the world. How has the IEA’s mission evolved from a focus on energy security to a focus also on energy sust

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Mozambique’s insurgency continues, but the security situation near the LNG site has significantly improved, with TotalEnergies aiming to lift its force majeure within months
China creates two-tier oil dynamic
25 July 2025
There is a bifurcation in the global oil market as China’s stockpiling contrasts with reduced inventories elsewhere
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24 July 2025
The reaction to proposed sanctions on Russian oil buyers has been muted, suggesting trader fatigue with Trump’s frequent bold and erratic threats
US oil sector faces complicated path
24 July 2025
Trump energy policies and changing consumer trends to upend oil supply and demand

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