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EIA: world petroleum use sets record high in 2012 despite declines in North America and Europe

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The world’s consumption of gasoline, diesel fuel, jet fuel, heating oil, and other petroleum products reached a record high of 88.9 In 2009, Asia surpassed North America as the world’s largest petroleum-consuming region as consumption rebounded from its 2008 decline. Year-on-year changes in petroleum consumption by region. Source: EIA.

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IHS Markit: conventional oil & gas discoveries at lowest levels in 70 years; major rebound unlikely

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Conventional oil and gas discoveries during the past three years are at the lowest levels in seven decades and a significant rebound is not expected, according to a new report by global business information provider IHS Markit. —Keith King, senior advisor at IHS Markit and a lead author of the IHS Markit E&P trends analysis.

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EIA: US household gasoline expenditures in 2015 tracking to be lowest in 11 years

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The average US household will spend about $550 less on gasoline in 2015 compared with 2014, as annual motor fuel expenditures are on track to fall to their lowest level in 11 years, according to projections by the US Energy Information Administration (EIA). The price for US regular gasoline has fallen 11 weeks in a row to an average $2.55

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IHS Markit: US gasoline demand could be cut almost in half due to COVID-19

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MMb/d, according to the US Energy Information Administration (EIA). during the global recession in 2008/2009. EVs also face another headwind with the low price of oil prices, making them less competitive in terms of fuel cost savings vis-à-vis their internal combustion engine counterparts.

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Chevron leveraging information technology to optimize thermal production of heavy oil with increased recovery and reduced costs

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Chevron, already the largest thermal heavy oil producer, is optimizing thermal production in heavy oil fields by leveraging information technology to improve the percentage recovery as well as the economics. Using thermal recovery processes in heavy oil reservoirs depends largely on. Oil production. 75,000 bpd.

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EIA: Price ratio of crude oil to natural gas continues to increase

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The ratio between the spot prices of crude oil and natural gas has been generally increasing since January 2009, but it has climbed rapidly in recent months, according to data from the US Energy Information Administration (EIA). The crude oil-to-natural gas spot price ratio has implications for production and consumption.

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IHS Markit: global commercial vehicle production to drop 22% in 2020 in wake of COVID-19

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These forecasts are informed by the latest IHS Markit global economic forecast updates, which reflect a 3.0% Existing information leads IHS Markit to believe that recovery in 2021 is expected to be substantial, but short of returning to the previous trend. decline in global real GDP in 2020. —Andrej Divis.

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