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Tag: International Energy Agency

International Energy Agency surprised Oil Producing Countries in the World

International Energy Agency surprised Oil Producing Countries in the World

The IEA (International Energy Agency) issued a report and surprised the world, notably the oil-producing countries. The agency has indicated when the end of oil will start as the main source of fuel and energy in light of the growing use of clean energy. It is noteworthy that oil demand worldwide is expected to slow from 2025 due to fuel efficiency improvement and an increase in the use of electric-powered vehicles. But, the IEA said that it is unlikely to…

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Fitch warned about a risk due to closure of Strait of Hormuz

Fitch warned about a risk due to closure of Strait of Hormuz

Fitch has indicated that it has maintained Iraq’s credit rating at B-, a degree of risk and a stable outlook. Fitch issued a statement and warned about the backlashes of the outbreak of antagonistic actions leading to the closure of the Strait of Hormuz. It is due to Iraq lacks other routes of export of oil in the south. Fitch also estimated that the closure of the strait for a month could result in Iraq losing 6.5 billion U.S dollars…

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