IEA

abbreviation

1. International Energy Agency

Example Sentences

The IEA is among the energy-market forecasters anticipating that the glut will grow in the coming months given that producers from the Middle East to Midland, Texas, are pumping oil as though prices were climbing toward highs rather than tumbling to multiyear lows.

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Oil futures were picking up in early U.S. trade after falling the previous session on renewed U.S.-China trade tensions and an even more bearish outlook from the IEA.

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Analysts note the IEA forecasts put supply next year nearly 4 million barrels a day above demand.

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The IEA’s monthly report was “unusually bearish,” adding to downside momentum, Ritterbusch says in a note.

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“The oil market has been in surplus since the start of the year, but stock builds have so far been concentrated in crude in China and gas liquids in the U.S.,” the IEA said.

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