Report IEA: Iran opened the way for the oil market

Report IEA: Iran opened the way for the oil market

LONDON, 10 Nov. Denis Voroshilov. The world situation has opened the way for Iran’s return to oil market, the share of renewable energy increases, reaching half, the report said World Energy Outlook, annually prepared by the International energy Agency (IEA).

“Signs of change in the world economy became more numerous during the 12 months since last year’s report. The prices for oil and other fuels fell sharply in many parts of the world. Countries, including India and Indonesia, have used the benefits from lower prices, continuing the reduction of subsidies for the sector associated with fossil fuels. During instability in some regions of the Middle East has opened an opportunity to return to the oil market of Iran, which has one of the largest hydrocarbon reserves in the world,” the document says.

The role of China as a country that defines global trends, according to the authors of the forecast, has changed after the country moved to a phase of development that require less power.

The IEA notes that renewable energy sources are becoming increasingly involved in the content market, and States increasingly set in a rule that would tighten requirements on conservation of energy and thus encouraging the development of “green energy”.

“Renewable energy almost half of the world formed the General scope of generation (energy) in 2014. The proliferation of mandatory standards governing the energy efficiency has increased by more than a quarter of total consumption,” the report notes.