Opec and IEA diverge on world’s capacity cushion
As trade tensions and disruptions ripple through the market, Opec and the IEA disagree on the risks to supply
Global energy bodies parted ways this week on the expected impact of oil capacity risks caused by sanctions and production outages in Venezuela, Libya and elsewhere. While the International Energy Agency's monthly report projected that capacity could be "stretched to the limit ", Opec said rising supply, particularly from its rivals, will easily meet slowing global demand growth. The prospect of tightened markets saw WTI prices spike as high as $74.77 a barrel in recent weeks, frustrating Opec's efforts to moderate prices, announced following the group's Vienna meeting at the end of June. But this week global trade tensions, a revival of Libyan production and US assurances over Iran sancti
Also in this section
21 April 2026
After overcoming a COVID-induced demand collapse with several years of successful market management, geopolitical events have conspired to provide the pact’s biggest test to date
21 April 2026
The regime’s policy of using nuclear ambiguity as a deterrent may have failed but it has realised it has other cards to play, while its neighbours are reappraising their approach to security
21 April 2026
As the global energy system undergoes a fundamental realignment, Algihaz Holdings has established itself as a critical player bridging conventional energy markets and the next generation of renewable infrastructure.
21 April 2026
The 25th WPC Energy Congress is taking place from 11-15 October 2026 at the Riyadh Front Exhibition & Conference Center.
