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bp Statistical Review shows 4.5% drop in primary energy consumption in 2020; mainly driven by oil

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bp released the 70 th annual edition of the bp Statistical Review of World Energy ; the data collected in this year’s edition includes energy data for 2020. The Review captures the significant impact the global pandemic had on energy markets and how it may shape future global energy trends. million b/d in 2020 driven by both OPEC (-4.3

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Today’s Stunted Oil Prices Could Cause Oil Price Shock In 2020

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As oil prices remain unsteady and OPEC continues to make headlines every hour, the world is focused on oil’s immediate future. With this kind of impending discrepancy between supply and demand, the industry needs to start looking for new sources of oil, and quickly. by Haley Zaremba for Oilprice.com.

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EIA: China processed record amounts of crude oil in 2021 but exported less gasoline and diesel

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China processed record amounts of crude oil in 2021 to meet rising domestic consumption of petroleum products, according to analysis by the US Energy Information Administration (EIA). Energy Information Administration, based on data from China General Administration of Customs, as compiled by Bloomberg, L.P. increase from 2020.

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Roskill: Molybdenum demand to drop by more than 8% in 2020

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Roskill expects demand for molybdenum to drop by more than 8% in 2020. The molybdenum market enjoyed three years of growing demand between 2016 and 2018, but macroeconomic concerns and a slower steel market resulted in a 2.3% Consequently, molybdenum prices came under downward pressure. bbl in April 2020.

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IHS Markit: US poised to be world’s largest LNG exporter in 2022 as China becomes top LNG importer

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The world’s two largest economies—the United States and China—are poised to be the world’s top export and import markets for liquefied natural gas (LNG), respectively, in 2022, according to a new report by IHS Markit. Average utilization for US plants climbed from 43% in third quarter 2020 to 98% in third quarter 2021.

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

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IHS Markit is forecasting that global commercial vehicle production (GVW 4-8) volumes in 2020 compared to 2019 will be down 22% (more than 650,000 units) to 2.6 decline in global real GDP in 2020. China slowly gaining momentum after shutdown. Most commercial vehicle factories in mainland China have returned to production.

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

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The four-week average US gasoline demand for the week ending 6 March 2020 was 9.1 Further, according to the latest IHS Markit forecasts, the global auto industry will exerience an unprecedented and almost instant stalling of demand in 2020, with global auto sales forecast to plummet more than 12% from 2019 to 78.8 million units.

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