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The Paris-based IEA, a top energy watchdog, warned investors last year not to fund new oil, gas and coal supply projects if the world wants to reach net zero emissions by mid-century.

IEA Warns Against Energy Crisis Deepening Fossil Fuel Reliance

The International Energy Agency on Wednesday said its member countries had agreed to release 120 million barrels of oil, with the United States contributing half, in a bid to cool oil prices after Russia's invasion of Ukraine.

IEA Confirms 120 Million Barrel Oil Release With U.S.

India said it was examining ways to support decisions by the International Energy Agency (IEA) member countries to release crude from their national inventories to calm rising global prices.

India Says It Is Exploring Ways To Support IEA Members' Oil Release

Oil demand is set to rise by half a million barrels per day (bpd) as the power sector and heavy industries switch from more expensive sources of energy, the IEA said.

Oil Prices Rise, As Saudis Dismiss Supply Concerns As Demand Grows

"Growth for the second half of 2021 has been downgraded more sharply, as new COVID-19 restrictions imposed in several major oil consuming countries, particularly in Asia, look set to reduce mobility and oil use," the Paris-based IEA said.

Spread Of COVID-19 Delta Variant Knocks Oil Demand Outlook: Report

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