Investment will need to be inclusive of all fuels, including oil and gas, renewables and nuclear, with oil demand alone expected to grow by around 10% by 2030 and gas by 18%
The International Energy Agency on Wednesday warned that from May onwards roughly 3 million barrels per day of Russian oil could be shut-in due to sanctions or voluntary embargoes
Prices hit 14-year highs last month as Western sanctions on Russia disrupted crude and oil product exports from the world's number two crude exporter
The International Energy Agency (IEA) on Thursday confirmed member country contributions to the second collective action to release oil stocks in response to Russia's invasion of Ukraine.
More details of specific contributions will be made public soon, IEA Executive Director Fatih Birol tweeted
The benchmark Brent and WTI contracts were both on course for their biggest weekly falls in two years at 13% and 12%, respectively
Oil prices plunged on Thursday on news that the United States was considering releasing up to 180 million barrels from its strategic petroleum reserve (SPR)
The IEA is also extremely worried about an impending oil supply crisis
President Vladimir Putin's invasion of Ukraine has upended global commodity markets, sending prices soaring and prompting a search for alternative sources of energy
Russia said an agreement had yet to be reached after a fourth day of talks with Ukraine during which some signs of progress had emerged earlier in the week
The supply loss would be far greater than an expected drop in demand of one million bpd triggered by higher fuel prices, the IEA said in a report on Wednesday
Oil prices climbed about 3% on Thursday after the International Energy Agency (IEA) said markets could lose three million barrels a day (bpd) of Russian crude and refined products from April.
Oil prices climbed after the International Energy Agency (IEA) said markets could lose three million barrels per day (bpd) of Russian crude and refined products from April.
The IEA board made the decision at an extraordinary board meeting of energy ministers chaired by US Energy Secretary Jennifer Granholm
Crude oil was trading around $104 a barrel on Tuesday as some buyers shunned Russian barrels after Western allies imposed sanctions on Moscow
India has set a target of raising the share of natural gas in its energy basket to 15 per cent by 2030 from the current 6.72 per cent
The International Energy Agency said that emissions of planet-warming methane from oil, gas and coal production are significantly higher than governments claim.
A massive expansion of the global gas pipeline network threatens climate goals and creates a $485.8 billion stranded asset risk, according to a new survey by Global Energy Monitor (GEM).
HSBC aims to cut emissions associated with loans made to its oil and gas clients by 34% by 2030, said bank's sustainability chief.
Brent crude futures rose 39 cents, or 0.4%, to $91.80 a barrel at 1015 GMT, while U.S. West Texas Intermediate crude gained 45 cents, or 0.5%, to $90.33 a barrel