article thumbnail

BNEF: Oil price plunge to have only moderate impact on low-carbon electricity development, but likely to slow EV growth

Green Car Congress

The collapse in world oil prices in the second half of 2014 will have only a moderate impact on the fast-developing low-carbon transition in the world electricity system, according to research firm Bloomberg New Energy Finance. However, the slump in the Brent crude price per barrel from $112.36 on 30 June to $61.60

article thumbnail

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

Green Car Congress

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. million units, in the wake of the COVID-19 pandemic. China slowly gaining momentum after shutdown.

2020 191
article thumbnail

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

Green Car Congress

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.

Gasoline 269
article thumbnail

The New Oil Cartel Threatening OPEC

Green Car Congress

According to Bloomberg’s Carl Pope , Europe and Japan, previously reluctant to take part in any anti-OPEC projects, may now join in. The reason they are likely to join in is that unlike in previous oil price cycles, now there are alternatives to fossil fuels. India, China, and Europe are all very big on EV adoption.

Oil 170
article thumbnail

The New Oil Cartel Threatening OPEC

Green Car Congress

According to Bloomberg’s Carl Pope , Europe and Japan, previously reluctant to take part in any anti-OPEC projects, may now join in. The reason they are likely to join in is that unlike in previous oil price cycles, now there are alternatives to fossil fuels. India, China, and Europe are all very big on EV adoption.

Oil 150
article thumbnail

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

Green Car Congress

Average utilization for US plants climbed from 43% in third quarter 2020 to 98% in third quarter 2021. A new map of LNG is taking shape as 2021 became the year of rapid recovery, making the oversupply and price lows of 2020 seem like a distant memory. Brazil more than tripled its 2020 imports by receiving 7.5

Qatar 186
article thumbnail

3 Years Of Painful Cuts Sets Oil Markets Up For Serious Supply Crunch

Green Car Congress

But Statoil’s CFO said the world could start to see supply problems by 2020. A sharp rise in oil prices would spur new investment and new drilling. The price acts as a self-correcting mechanism. When oil prices go up, people buy fuel efficient cars. Of course, these figures are not inevitable.

Oil 150