The IEA said it now expects world oil demand to recover by 5.5 million barrels per day to 96.6 million this year.
The closely-watched oil market report comes as coronavirus cases continue to surge worldwide, with new lockdowns imposed in Europe and parts of China.
The move could open the market to numerous fintech services, spurring competition and increasing users' options when it comes to managing their own finances.
Qatar Financial Centre has targeted $25 billion of foreign direct investment inflows by 2022, its CEO Yousuf Al-Jaida told CNBC in an exclusive interview.
Yousuf Al-Jaida of the Qatar Financial Centre says the end of the blockade on Qatar is a "historic moment" that will bring more travel and more access to markets in the region. He says he's "very optimistic" about more foreign direct investment inflows coming into Doha.
Angus Blair of the American University in Cairo says it was a "very practical solution" for Gulf countries to bring Qatar back into the fold in a time where the region has been hit economically by Covid, but there still might be resistance behind the scenes. He also weighs in on Saudi Arabia's plans to build a zero-carbon city.
Oil prices hit 11-month highs and were on track for a weekly gain on Friday, supported by Saudi Arabia's pledge to cut output and a global stocks rally as investors looked beyond rising coronavirus cases.
Goldman Sachs sees demand rebounding by March, with the arrival of warmer weather and increased vaccinations.
The Al-Ula declaration resolves all of the outstanding issues that Qatar and other Arab nations had, said Faisal bin Farhan al-Saud, Saudi's foreign minister.
Resolving the Qatari dispute allows the Gulf Cooperation Council's countries to promote greater mutual security interests and economic integration, says Faisal bin Farhan Al-Saud, Saudi Arabia's foreign minister.
Oil prices rose on Wednesday to their highest since February 2020 after Saudi Arabia agreed to reduce output more than expected.
Pavel Molchanov, Raymond James, joins 'Closing Bell' to discuss Saudi Arabia's decision to cut its crude output and what it could mean for the oil markets.
Saudi Arabia, the United Arab Emirates, Bahrain and Egypt had imposed a diplomatic, trade and travel blockade on Qatar, accusing it of supporting terrorism.
Oil prices jumped to their highest level in nearly a year on Tuesday.
Iran's Revolutionary Guards Corps seized a South Korean-flagged tanker in Gulf waters, Iranian media said on Monday.
Oil was discovered in the Al-Ajramiyah well, northwest of the city of Rafhaa.
Google Cloud and Saudi Aramco will partner to deliver cloud infrastructure to Saudi Arabia, as Covid-19 accelerates rapid digital adoption in the Gulf.
The oil market has rallied almost 40% in the last two months, but a surge in virus cases in the U.K., which has lead to fresh travel restrictions in Europe, has sparked a sell-off. Dan Yergin, IHS Markit vice chairman, joins "Squawk Box" to discuss.
Outgoing U.S. Energy Secretary Dan Brouillette visited Abu Dhabi to discuss regional energy security with counterparts from the UAE, Bahrain and Israel.
Saudi Arabia is on a hiring spree for lobbyists as Joe Biden, who has signaled that he will take a tougher stance with the nation, prepares to take office.