Green Car Congress
JANUARY 11, 2023
According to EIA’s January Short-Term Energy Outlook (STEO) , global liquid fuel consumption will exceed 100 million barrels per day, on average, in 2023 for the first time since 2019, then average more than 102 million barrels per day in 2024. Areas of uncertainty include Russian oil supply and OPEC production. per gallon in 2024.
Green Car Congress
JANUARY 11, 2023
Despite efforts to continue stimulating the US economy in the wake of the pandemic, high inflation put a damper on economic growth, which was exacerbated by a spike in oil prices as a result of Russia’s invasion of Ukraine. Consequently, the US economy grew 1.9% in 2022, down from a 5.7% GDP increase in 2021.
Green Car Congress
APRIL 7, 2021
EIA’s annual Summer Fuels Outlook, released today with EIA’s Short-Term Energy Outlook (STEO), expects a 15% increase in US highway travel this summer but still less highway travel than in the summer of 2019. Retail gasoline prices recently reached their highest levels in almost two years, hitting an average of $2.87/gal
Green Car Congress
MARCH 27, 2020
Further, according to the latest IHS Markit forecasts, the global auto industry will exerience an unprecedented and almost instant stalling of demand in 2020, with global auto sales forecast to plummet more than 12% from 2019 to 78.8 million units. during the global recession in 2008/2009. Europe autos demand for 2020 is set at 15.6
Green Car Congress
NOVEMBER 4, 2019
Primary energy intensity—an indicator of how much energy is used by the global economy—improved by just 1.2% in 2018—the slowest rate since 2010—according to Energy Efficiency 2019 , the IEA’s annual report on energy efficiency. In 2018, higher oil prices helped dampen demand for road transport fuels.
Green Car Congress
APRIL 23, 2018
With economic growth robust and prices still under pressure, indications are that the current strong global refined product demand growth will continue through to end-2020, averaging 1.1 in both 2018 and 2019, respectively, due to convergence of robust economic activity in many markets around the world. —Spencer Welch.
Green Car Congress
APRIL 18, 2020
IHS Markit is forecasting that global commercial vehicle production (GVW 4-8) volumes in 2020 compared to 2019 will be down 22% (more than 650,000 units) to 2.6 million units, in the wake of the COVID-19 pandemic. The relative strength of the March data compared to February suggests many plants may be online near full capacity again.
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