'Revival unlikely'

IEA predicts oil price fall in 2026 due to oversupply

Het agentschap verwacht dat de prijs van een vat Brentolie, de benchmark voor olie uit het Midden-Oosten en de Noordzee, volgend jaar daalt tot 58 dollar.

The International Energy Agency (IEA) expects oil prices to fall significantly next year due to oversupply and declining demand. ANP reports.

According to a recent IEA report, the figures “point to weak demand in major economies”. “As consumer confidence remains low, a sharp rebound seems unlikely for the time being,” it says.

The agency expects the price of a barrel of Brent oil, the benchmark for Middle East and North Sea oil, to fall to $58 next year. By comparison, this year the average price is $69. For motorists, this could be an advantage at the pump.

However, the price of petrol in the Netherlands risks becoming more expensive next year if politicians do not intervene, writes the ANP. From 1 January, a discount on excise duty will expire, which could cause a litre of petrol to rise 25 cents in price all at once. Former infrastructure minister Barry Madlener earlier called on the House of Representatives to take action. If there are no plans for a solution by Budget Day, the excise duty increase will go ahead. Avoiding the excise increase will cost €1.6 billion, according to an earlier estimate.

The IEA further expects global oil supply to rise to 2.1 million barrels per day this year. Earlier, the advisory body assumed 1.8 million barrels per day. According to the agency, global oil markets are likely to face a record surplus next year. “It is clear that something will have to be done to balance the market,” the IEA stated.

Also read:

This article was automatically translated from the Dutch language original to English (British).

Author: Nina Koelewijn

Source: MobilityEnergy.com

E-mail

Related posts

'back against the wall' Industry body Nove disappointed with energy support package and sends fire letter to Parliament

According to Nove, trade association of independent fuel companies and EV providers, the support package now on the table pushes petrol station operators with their backs against the wall. According to Nove, it leads to leakage of VAT and excise duty revenues due to increasing fuel tourism. The industry association writes this in a letter…
Ten sites in two years Second Tango x Bakker Bart location opened in Den Bosch

A new Tango x Bakker Bart location has opened in the Maaspoort district of Den Bosch in Brabant. It is the second location of these parties combining the petrol station concept with a food and accommodation offer.
Long-term focus ‘No lower petrol price despite billion-dollar cabinet package’

To cushion the economic impact of the war in the Middle East, the government is coming up with a support package of almost EUR 1 billion. However, lower prices at the pump do not seem to be in the cards for the time being, reports NOS.
From the magazine Amsterdam in transition: charging infrastructure as key to emissions-free transport in the city

Amsterdam wants to improve air quality in the city by making urban traffic emission-free, among other things. This has implications for the role of filling stations. Together with the industry, the municipality is looking at how these stations fit into the city’s future charging network.