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EIA forecasts rising global oil production will limit price increases

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In the June Short-Term Energy Outlook (STEO), the US Energy Information Administration (EIA) forecasts that rising global production of petroleum and other liquid fuels (driven by OPEC, Russia, and the United States) will limit price increases for global crude oil benchmarks Brent and West Texas Intermediate (WTI).

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When Will Russia Run Out Of Oil?

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On a global level, 2015 and 2016 marked the lowest level of new conventional oil discoveries since 1952. billion barrels of conventional oil were discovered, roughly 45 days of global crude consumption or 0.2 In 2015, only seven new hydrocarbon discoveries were made in Russia, three of them in the Baltic Sea. In 2016, only 3.7

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IHS Markit: 10 MMb/d of oil production cuts coming

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IHS Markit Crude Oil Markets service expects up to 10 MMb/d of world oil production will be cut or shut-in from April to June 2020 as oil storage fills up and output from financially strapped companies begins to fall. If oil cannot be sold or stored, it cannot be produced. Something has to give. And it will.

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IEA: nuclear power can play a major role in transition to low emissions energy systems; Russia, China leading on new reactor starts

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About 63% of today’s nuclear generating capacity comes from plants that are more than 30 years old, since many were built in the aftermath of the 1970s oil shocks. There is increased support and interest in Canada, France, the United Kingdom and the United States for this promising technology.

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President of Mexico nationalizes lithium

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is to nationalize lithium so that it cannot be exploited by foreigners from Russia, China or the United States. Oil and lithium belong to the nation, they belong to the people of Mexico, to you, to all those who live in this region of Sonora, to all Mexicans. What we are doing now.

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IEA: key oil trends 2018

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Total OECD annual production of crude oil, natural gas liquids (NGL), and refinery feedstocks increased by 10.3% Production from the United States rose to a record high in the third quarter of 2018, and increased by 17.1% Total imports of crude oil, NGL and refinery feedstocks to individual OECD countries were 2.7%

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IHS Markit says outlook for crude oil prices strengthens through 2021

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Oil markets have returned to relatively stable ground with Brent prices within a narrow $40-$45 per barrel range and could conclusively pass the $50 per barrel mark in the second half of 2021, according to Roger Diwan and the IHS Markit Energy Advisory Service. bbl in 2020 and $49.25/bbl bbl in 2021—up $7.09/bbl bbl and $5.25/bbl,