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EIA expects new production milestones for US crude oil amid sustained global petroleum demand and rising prices

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In its August Short-Term Energy Outlook (STEO), EIA forecasts US crude oil production to average 12.8 million barrels per day in 2023—200,000 barrels per day more than in its July forecast. EIA forecasts the Brent crude oil price to increase the rest of 2023 and to approach $90 per barrel in late 2023. million b/d, with 1.2

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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 forecasts that the European benchmark Brent crude oil price will average less than $80 per barrel in 2024, more than 20% lower than in 2022. per gallon in 2024.

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EIA expects global consumption of liquid fuels to surpass 2019 levels in 2022

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As outlined in its current Short-Term Energy Outlook , the US Energy Information Administration (EIA) estimates that global consumption of petroleum and liquid fuels averaged 92.3 EIA expects that global liquid fuels consumption will grow by 5.3 In the EIA forecast, global consumption of liquid fuels rises by an additional 3.7

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EIA projects global conventional gasoline and diesel LDV fleet will peak in 2038

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In the US Energy Information Administration’s (EIA’s) International Energy Outlook 2021 , released earlier this month, the EIA forecast that the global light-duty vehicle (LDV) fleet will grow from 1.31 EIA projected that electric vehicles (EVs)—any LDV with a charging plug—will grow from 0.7%

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Report suggests low-speed electric vehicles could affect Chinese demand for gasoline and disrupt oil prices worldwide

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Low-speed electric vehicles (LSEVs) could reduce China’s demand for gasoline and, in turn, impact global oil prices, according to a new issue brief by an expert in the Center for Energy Studies at Rice University’s Baker Institute for Public Policy. “ —Gabriel Collins.

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IEA: global oil demand to decline in 2020 as coronavirus weighs on markets

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Global oil demand is expected to decline in 2020 as the impact of the new coronavirus (COVID-19) spreads around the world, constricting travel and broader economic activity, according to the International Energy Agency’s (IEA’s) latest oil market forecast. The IEA now sees global oil demand at 99.9

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Navigant forecasts global road transportation energy consumption to increase 25% by 2035; 84% from conventional fuels

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In a new report ( Transportation Forecast: Global Fuel Consumption ), Navigant Research forecasts total road transportation energy consumption will grow from 81.1 gasoline and diesel) represent the bulk of energy consumption throughout the forecast period. of global consumption in 2014 to more than 16.4%