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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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EIA expects sustained global demand for petroleum products and Saudi Arabia’s extended voluntary production cuts will contribute to oil prices rising through the year. —EIA Administrator Joe DeCarolis EIA also forecasts global liquid fuels production will increase by 1.4 In 2024, global production increases by 1.7

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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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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. Our forecast for global consumption of petroleum depends on uncertain economic conditions—especially in China. —EIA Administrator Joe DeCarolis.

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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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Lexus passes cumulative global sales of 2M electrified vehicles; HEVs and BEV

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Lexus announced that the luxury brand eclipsed the milestone of 2 million global sales of electrified vehicles—hybrids and battery-electric—at the end of April 2021. In 2020, 33% of the Lexus models sold globally were of the electrified variety. its lineup of electrified vehicles to provide a wide range of options.

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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% billion vehicles in 2020 to 2.21

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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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