article thumbnail

US Shale Is Immune To An Oil Price Crash In 2017

Green Car Congress

shale in particular—is effectively capping the oil price gains from that agreement. Four months after the OPEC/NOPEC deal took effect, oil prices dropped to the levels preceding the agreement, amid concerns over still stubbornly high inventories and rising U.S.

article thumbnail

Today’s Stunted Oil Prices Could Cause Oil Price Shock In 2020

Green Car Congress

As oil prices remain unsteady and OPEC continues to make headlines every hour, the world is focused on oil’s immediate future. In a speech made at the Association of International Petroleum Negotiators’ 2017 International Petroleum Summit, Johnston laid out his concerns for the future of oil.

article thumbnail

The Next Oil Price Spike May Cripple The Industry

Green Car Congress

Two diametrically opposed views dominate the current debate about where the oil price is heading. But, WoodMackenzie says, many of these still-to-be-launched projects are uneconomical at oil prices in the $50s per barrel, meaning that they should not be expected to get the all-clear anytime soon. Since (non-U.S.

article thumbnail

US average retail gasoline prices ended 2017 lower than they started

Green Car Congress

US regular retail gasoline prices averaged $2.72 per gallon (gal) in 2018, 30 cents/gal (13%) higher than in 2017 and 57 cents/gal higher than in 2016. In 5 of the 10 cities for which EIA collects weekly retail price data, gasoline prices exceeded $3.00/gal gal at least once in 2018. gal to $3.01/gal gal during the year.

Gasoline 236
article thumbnail

Supply Crunch Or Oil Glut: Investment Banks Can’t Agree

Green Car Congress

This year, shale output forecasts combine with OPEC’s production cuts, geopolitical factors, and unexpected outages to further complicate supply/demand and oil price forecasts by Wall Street’s major investment banks. UBS, for its part, expects a 4-million-bpd supply gap by 2020. shale output. million bpd.

Oil 150
article thumbnail

Frost & Sullivan: market for lightweight materials in automobiles to reach $95.34B in 2017

Green Car Congress

billion in 2017, driven by the need to conform to environmental regulations. million in 2017 at a CAGR of 16.4%. million in 2017 at a CAGR of 10.8%. The adoption rate of plastics will be low in structural parts, which require robust impact resistance properties. million by revenue and 10.3 million tonnes by volume.

2017 210
article thumbnail

Eni report: global oil reserves and oil production up in 2018 due to US

Green Car Congress

Asia Pacific’s oil dependence continues to grow, ranking first in terms of deficit. Global oil demand grew by 1.4%, slightly lower than in 2017 (+1.6%) in a context of increasing oil prices. recorded in 2013-2017. Asia kept leading global refining capacity growth with 77% of the 1 Mb/d increase vs 2017.