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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 also expects oil production in Canada, Brazil, and Norway collectively to grow 12% from 2022 to 2024, and also expects growth from new sources such as Guyana.

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EIA expects increased US crude oil production, with continued high petroleum prices in 2022

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Despite the increases in production, EIA expects the Brent crude oil price to remain above $100 per barrel this year, according to the agency’s May 2022 Short-Term Energy Outlook (STEO). in the United States this summer (June–August) compared with the summer of 2021. —EIA Administrator Joe DeCarolis. and by 1.5%

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EIA expects US motor fuel consumption to increase this summer, but remain below 2019 levels

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The US Energy Information Administration (EIA) forecasts an increase in demand for petroleum products during the 2021 summer driving season as the impacts of COVID-19 diminish in the United States. EIA expects the retail price of regular-grade gasoline in the United States will average $2.78 gal last summer.

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EIA projects increases in global energy consumption and emissions through 2050

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Liquid fuels remain the largest source of energy consumption, driven largely by the industrial and transportation sectors. Renewables will be the primary source for new electricity generation, but natural gas, coal, and increasingly batteries will be used to help meet load and support grid reliability. —Stephen Nalley.

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EIA: world energy consumption to grow 56% 2010-2040, CO2 up 46%; use of liquid fuels in transportation up 38%

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World energy consumption by fuel type, 2010-2040. The US Energy Information Administration’s (EIA’s) International Energy Outlook 2013 (IEO2013) projects that world energy consumption will grow by 56% between 2010 and 2040, from 524 quadrillion British thermal units (Btu) to 820 quadrillion Btu. Liquid fuels.

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Updated NETL study provides more detailed economic and environmental assessment of coal-to-liquids and CTL with modest biomass

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The National Energy Technology Laboratory (NETL) has released a follow-on study to its 2009 evaluation of the economic and environmental performance of Coal-to-Liquids (CTL) and CTL with modest amounts of biomass mixed in (15% by weight) for the production of zero-sulfure diesel fuel. Earlier post.).

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EIA: China’s use of methanol in liquid fuels has grown rapidly since 2000; >500K bpd in 2016

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Now, a study commissioned by the US Energy Information Administration (EIA) from eia.gov (a global provider of analysis on energy and commodities), finds that since the early 2000s, China’s consumption of methanol in fuel products has risen sharply. The report estimates consumption to have been more than 500,000 barrels per day (b/d) in 2016.

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