Remove America Remove Industrial Remove Oil Prices Remove Production
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Opinion: Consumers winning with low oil prices, for now

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Lest we be too quick to forget whence we came, America is now 9-months into lower gasoline prices, which started their swoon the week of June 30, 2015 from a lofty national average just under $3.70, tumbling almost every subsequent week before bottoming and bouncing from $2.02 What is a reasonable price for oil?

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IHS Markit: US oil producers to halt 1.75 MMb/d per day of production; Canada to cut 0.5 MMb/d

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Due to the collapse in oil prices, IHS Markit expects US producers are in the process of curtailing about 1.75 This resumption of production may accelerate if WTI remains above $30 per barrel—a price that allows operators to cover their operating costs and that reflects improved storage availability.

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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. North America. Source: EIA. Click to enlarge.

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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 Most commercial vehicle factories in mainland China have returned to production. The local industry is already recovering, with commercial vehicle plants re-opened.

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

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The low levels in discoveries come as a result of a pullback during the past 10 years in the wildcat drilling that targets conventional oil and gas plays—most drastically after oil prices collapsed in 2014. —Keith King, senior advisor at IHS Markit and a lead author of the IHS Markit E&P trends analysis.

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Opinion: Could WTI Trade At A Premium To Brent By Next Year?

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A flood of bearish news has pushed down oil prices to their lowest levels in months, with WTI nearing $45 per barrel and Brent flirting with sub-$50 territory. With a bear market back, there is pessimism throughout the oil markets. Also, the ban on oil exports kept oil stuck within US borders.

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Forecast: Algae-Based Biofuels Production to Reach 61M Gallons per Year by 2020

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According to a new report from Pike Research, algae biofuels production will grow rapidly over the next decade, reaching 61 million gallons per year and a market value of $1.3 Pike Research anticipates that, with 50% of all algae activity, the United States is poised to ramp up production the earliest among world markets.

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