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IEA forecasts global oil demand to reach 101.6 mb/d in 2023; non-OECD countries lead expansion

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While higher prices and a weaker economic outlook are moderating consumption increases, a resurgent China will drive gains next year, with growth accelerating from 1.8 In contrast to 2022 when the OECD led the expansion, non-OECD economies are set to account for nearly 80% of growth next year. mb/d in 2022 to 2.2 mb/d in 2022 and 1.8

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Opinion: How Much Longer Can OPEC Hold Out?

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The EIA even predicts that OPEC’s net oil exports (excluding Iran) could fall to as low as $380 billion in 2015. With the huge reduction in its revenues and growing discomfort among its members such as Venezuela, Libya and Nigeria over its current production levels, is OPEC really getting weaker? Nigeria’s dilemma.

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Opinion: Is Russia Plotting To Bring Down OPEC?

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Energy is the foundation of Russia, its economy, its government, and its political system. They pose an existential threat to the industry and therefore to the Russian economy: The revenues Russia can earn from its crude and natural gas exports face intense pressure. Natural gas data from Gazprom). The emergence of the U.S.,

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Opinion: Saudis Could Face An Open Revolt At Next OPEC Meeting

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OPEC next gathers December 4 in Vienna, just over a year since Saudi Oil Minister Ali Al-Naimi announced at the previous OPEC winter meeting the Saudi decision to let the oil market determine oil prices rather than to continue Saudi Arabia's role of guarantor of $100+/bbl oil. million barrels/day in 2014 to 7.55

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RAND reports suggest US DoD use less petroleum fuel to deal with high prices, not count on alternatives

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The other two key findings from Bartis’ introductory report are: Where security shortfalls impede hydrocarbon production or transport, current and future US Air Force partnership-building capabilities offer security improvements that could promote greater production of petroleum and natural gas resources. Additionally, U.S.

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