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EIA expects record global petroleum consumption in 2024, with lower crude oil prices

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The US Energy Information Administration (EIA) expects global consumption of liquid fuels such as gasoline, diesel, and jet fuel, to set new record highs in 2024. EIA forecasts that the European benchmark Brent crude oil price will average less than $80 per barrel in 2024, more than 20% lower than in 2022. per gallon in 2024.

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EIA expects global consumption of liquid fuels to surpass 2019 levels in 2022

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As outlined in its current Short-Term Energy Outlook , the US Energy Information Administration (EIA) estimates that global consumption of petroleum and liquid fuels averaged 92.3 million b/d from 2019. EIA expects that global liquid fuels consumption will grow by 5.3 million b/d—surpassing 2019 levels. in 2020.

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Report suggests low-speed electric vehicles could affect Chinese demand for gasoline and disrupt oil prices worldwide

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Low-speed electric vehicles (LSEVs) could reduce China’s demand for gasoline and, in turn, impact global oil prices, according to a new issue brief by an expert in the Center for Energy Studies at Rice University’s Baker Institute for Public Policy. “ —Gabriel Collins.

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IHS Markit: oil price collapse will change trajectory of North American gas supply

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The trajectory of North American gas supply is set to change radically as a result of the fall in oil prices that has occurred due to COVID-19 and the breakdown in production cooperation between OPEC and Russia, according to IHS Markit. The Permian Basin, long viewed as the gem of US unconventional oil production, currently produces 4.6

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EIA: US crude oil exports reached record levels in 2020 and remain high in 2021

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Despite volatility in global oil markets, US crude oil exports reached a record high in 2020, according to the US Energy Information Administration (EIA). As of 9 July 2021, US crude oil exports have averaged 3.00 The most recent four-week rolling average of US crude oil exports reached 3.51

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US EIA: US crude oil production fell by 8% in 2020, the largest annual decrease on record

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US crude oil production averaged 11.3 million b/d in 2019, according to the US Energy Information Administration (EIA). The production decline resulted from reduced drilling activity related to low oil prices in 2020. In January 2020, US crude oil production reached a peak of 12.8 million b/d set in 2019.

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CAR: US light-duty vehicle sales to dip in 2019

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million units for 2019. US Light Vehicle Sales, 2015-2018, and CAR’s Forecast, 2019-2025. Solid new housing starts and home prices rebounding to pre-recession levels. The Center for Automotive Research’s (CAR’s) updated automotive sales outlook forecasts US light-duty vehicle sales at 16.8 million units in 2021.

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