The Fuse

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IEA Sees Renewables Overtaking Fossil Fuels and Nuclear by 2026

A record volume of renewable energy is expected to come online in 2021, with 290 gigawatts of new capacity. That surpasses 2020’s record, when renewables accounted for all of the new electricity capacity installed worldwide.

topics: Electricity, IEA, Renewable Energy, Renewables, Solar

Omicron Ends Oil Rally. OPEC+ Decides to Wait and See

The emergence of the new Omicron variant has ended, at least for the moment, the surge in oil prices that has unfolded over the course of much of this year.

topics: COVID-19, Global Oil Demand, oil, OPEC

Biden Taps SPR, But Remains at the Mercy of OPEC+

The U.S. government announced that it would release oil from the strategic petroleum reserve in coordination with a handful of other countries in an effort to tame oil prices.

topics: Biden administration, oil, OPEC, SPR, WTI

IEA: Oil Price “Reprieve” On The Way

After months of oil prices steadily climbing amid a tightening market, the worldwide rally may soon take a breather.

topics: Crude Oil, IEA, oil, Oil Markets, Oil Prices, OPEC