International Gas Union Reaction to the IEA World Energy Outlook 2017
The less-than-bullish forecast for Canadian oil and gas, means the IEA has cut the country's investment spend in the country to US$1.08 trillion in 2040 (from US$1.68 trillion in its forecast last year) - part of a global cut in investment projections. This is expected to cut 2.5 million bpd, or about 2 percent, off global oil demand by that time.Still, the IEA's "New Policies Scenario", based on existing legislation and announced policy intentions, expects oil prices to rise towards $83 a barrel by the mid-2020s.
The largest disruptive force to supply will be shale production in the U.S. - the IEA estimates USA crude oil will reach peak output in the 2020s of around 17m bpd.
Brent crude oil prices recently climbed to two-year highs of more than $60 a barrel due to supply disruptions, geopolitical concerns and a growing expectation that an Opec-led agreement to reduce production will be extended through 2018.
The Paris-based group said it cut its demand outlook for next year by 190,000 barrels a day, and global production could vault above demand by 600,000 barrels a day in the first quarter of 2018, and by 200,000 barrels a day in the second quarter.
Solar power will surge globally in the coming decades, but oil demand will also continue to grow, according to a new report from the International Energy Agency.
The US government said on Monday US shale production in December would rise for a 12th consecutive month, increasing by 80,000 bpd.
Oil prices have risen in recent months, after both Opec and non-Opec countries struck a landmark deal at the end of a year ago to cut back production to combat a global oil glut.
Salman Khan on twitter with team of his Upcoming Movie Race 3
He also shared his first look from the upcoming flick in which he can be seen pointing a gun wearing an intense look on his face. Salman makes his franchise debut with the upcoming film and is likely to essay his first ever negative character in the film.
Final Fantasy XV's Noctis coming to Tekken 7
All in all, it seems like the guy has plenty of tools at his disposal to make him one of the most risky characters on the roster. The announcement comes after yesterdays Tekken 7 World Finals and no other announcement of when he will be available.
Trump asked Xi to resolve Ball arrest
Ball, Riley and Hill remain in China after to team flew back to Los Angeles following the Bruins' win Saturday over Georgia Tech . The players were arrested last week and charged with shoplifting from a Louis Vuitton store located next to the team's hotel .
Traders said they were cautious about betting on further price rises.
"Over the same period, United States gas companies ramped up their exports to Canada and Mexico, pushing net U.S. imports of pipeline gas down to around 25 bcm in 2016, compared with 80 bcm some ten years earlier", IEA economists said.
The IEA also revised down its 2018 oil demand forecast for Brazil from 3.15 million bpd to 3.13 million bpd.
"Prices ... are starting to look like a pause or pullback is needed", said Greg McKenna, chief market strategist at futures brokerage AxiTrader.
Over the next two decades, the global energy system would be reshaped by four major forces: the United States, as it becomes the global oil and gas leader; rapid deployment of renewables; growing share of electricity in the energy mix; and China's new economic strategy, taking it on a cleaner growth path.
"It's quite spectacular, because you're going to see the number of cars on the road double from one billion to 2 billion, thanks to electric vehicles and fuel economy standards", said Laura Cozzi, head of the Energy Demand Outlook division.
Timothy Piazza Hazing Death
In fact, authorities say, every drink consumed was provided to him by a fraternity brother. Members of the fraternity carried Piazza up the steps and put him on the couch.
Chance of rain on Tuesday
Rain chances will stay at 0% and we will still be breezy with wind coming from the north at 10-15 miles per hour . A fast-moving front brings a few showers Wednesday night and Thursday before it's back to nice weather Friday .
Sierra Nevada Dream Chaser Conducts Critical Flight Test
Both SpaceX and Orbital ATK developed wingless cargo capsules that launch to the station on top of the companies' rockets. The company is under contract from NASA to fly its Dream Chaser spaceplane to the International Space Station by 2020.
Alex Azar Nominated as HHS Secretary
Azar, 50, served as deputy secretary in the Department of Health and Human Services from 2005 to 2007, under George W. President Donald Trump announced his decision on Twitter Monday morning to nominate Alex Azar as U.S.
Carbon emissions on track to rise this year
Global CO2 emissions from all human activities are set to reach 41 billion tonnes (41 Gt CO2) by the end of 2017. Data from the Department of Environment and Energy shows Australia's emissions have been increasing since 2013.