Another Europe News
US set to lead world oil production
http://www.euronews.com/ We won’t be using as much oil as was first thought this year or next. The International Energy Agency has trimmed its forecast for world demand.
The IEA, which is the industrialised countries’ energy watchdog reckon the demand for crude will drop by as much a 100,000 barrels a day next year.
The weak global economy and the impact of Hurricane Sandy were cited as two reasons behind the drop while the report added that, “rarely have so many things gone wrong in the oil patch at the same time.”
The report follows the agency’s prediction the US would overtake Saudi Arabia as the world’s largest oil producer by 2017.
It points out the production boost in the US has been made possible by new technologies helping oil, shale gas and bioenergy production.
The forecast could have huge geo-political implications for some countries especially China.
“It’s actually going to make it possible for the U.S. to pay less attention and actually foot less of the bill for protecting Middle Eastern oil supply and basically, in effect, say to China and other countries hey you guys are the big consumers now you guys have to step up and do your part,” explained Mike Wittner, Global Head of oil research at Societe Generale.
The report also predicts renewable power will become an indispensable part of the global energy mix by 2035, generating almost one-third of electricity on the planet the same amount as from coal.
It stresses there will have to be careful energy management for such a forecast to become a reality.
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Another Europe News
UK PM Starmer pays tribute to stabbing victim Henry Nowak and family, condemns protest violence
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In our latest episode of #TheRing, Euronews’ weekly debate show, we’re discussing the outcome of the Hungarian election and whether the EU should drop the veto on key decisions.
We’re joined by MEPs Daniel Freund and Sander Smit.
Tune in tonight at 20.30 CET on Euronews.
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Catch up with the most important stories from around Europe and beyond this May 15th, 2026 – latest news, breaking news, World, Business, Entertainment, Politics, Culture, Travel.
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Another Europe News
Watch: The oldest trick in the book—how Russia’s shadow fleet hides from global tracking
Watch: The oldest trick in the book—how Russia’s shadow fleet hides from global tracking
Last Sunday, French maritime forces, operating alongside the UK, intercepted a sanctioned Russian oil tanker that was part of the shadow fleet. What actually is this ghost fleet, and how does it affect Europeans?
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