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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. “

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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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The IEA June 2022 Oil Market Report (OMR) forecasts world oil demand to reach 101.6 As for OPEC+, total oil output in 2023 may fall as embargoes and sanctions shut in Russian volumes and producers outside the Middle East suffer further declines. mb below the 2017-2021 average. mb/d in 2023, surpassing pre-pandemic levels.

Oil 210
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EIA projects nearly 50% increase in world energy usage by 2050, led by growth in Asia

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EIA projects most of this growth will come from regions where the consumption of energy is driven by strong economic growth, particularly in non-OECD Asia. This long-term trend of Asian energy consumption to support growing economies strongly influences the extraction, refining, and transport of oil, natural gas, and other fuels.

Asia 220
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EIA: US exported record amounts of petroleum products in the first half of 2022

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US petroleum product exports increased in the first half of 2022 by 11% (596,000 b/d) compared with the first half of 2021—the fastest growth rate for that time period since 2017. Distillate fuel oil exports increased by 19% (190,000 b/d) from the first half of 2021 to the first half of 2022. US propane exports averaged 1.4

Russia 284
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IEA: record oil output from US, Brazil, Canada and Norway to keep global markets well supplied

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Oil production growth from the United States, Brazil, Canada and Norway can keep the world well supplied, more than meeting global oil demand growth through 2020, but more investment will be needed to boost output after that, according to the International Energy Agency’s latest annual report on oil markets. mb/d in 2017.

Brazil 218
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BNEF: net-zero road transport by 2050 still possible, but big push needed

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The Long-Term Electric Vehicle Outlook outlines two scenarios for the uptake of electric transport to 2050, and examines impacts on demand for batteries, materials, oil, electricity, infrastructure and emissions. million barrels of oil demand per day. —Aleksandra O’Donovan, head of electric vehicles at BloombergNEF.

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Lux: China, India lead Asian alternative fuels; targets likely will not be met

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billion gallons per year for 2020—but as total fuel demand explodes as well, ethanol will creep up to only 4% of gasoline in 2017, placing that target in doubt, according to Lux. India is betting on jatropha for biodiesel as it strives to meet a 20% biofuels mandate for 2017, but biofuels will account for less than 0.6%