Remove 2020 Remove Global Remove Industrial Remove Oil Prices
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. shale production will continue to grow along with global demand. shale production will continue to grow along with global demand. by Haley Zaremba for Oilprice.com.

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. On the other hand, however, there is the view that the price of oil is set to explode, primarily due to underinvestment in the upkeep of brownfields , development of greenfields , and exploration for new resources.

article thumbnail

EIA expects global consumption of liquid fuels to surpass 2019 levels in 2022

Green Car Congress

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 million barrels per day (b/d) for all of 2020, down by 8.6 EIA expects that global liquid fuels consumption will grow by 5.3 million b/d from 2019.

2019 243
article thumbnail

EIA projects increases in global energy consumption and emissions through 2050

Green Car Congress

The US Energy Information Administration (EIA) projects that, absent significant changes in policy or technology, world energy consumption will grow by nearly 50% between 2020 and 2050. Liquid fuels remain the largest source of energy consumption, driven largely by the industrial and transportation sectors.

Global 259
article thumbnail

IHS Markit: global commercial vehicle production to drop 22% in 2020 in wake of COVID-19

Green Car Congress

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 These forecasts are informed by the latest IHS Markit global economic forecast updates, which reflect a 3.0% decline in global real GDP in 2020.

2020 191
article thumbnail

2020 Thanksgiving week gasoline consumption in US lowest since 1997

Green Car Congress

The data speaks to a major problem for the petroleum industry and oil prices as it recovers from unprecedented demand declines for most of 2020. A persistent rebound in global oil markets requires profitability in transportation products. and 1.1%, respectively. But that won’t happen until demand recovers.

Gasoline 321
article thumbnail

Roskill: Molybdenum demand to drop by more than 8% in 2020

Green Car Congress

Roskill expects demand for molybdenum to drop by more than 8% in 2020. Other uses for molybdenum include catalysts for the petroleum industry, inks for circuit boards, pigments and electrodes. In the first half of 2020, the Brent crude oil price crashed from US$67.3/bbl bbl in April 2020. decline in 2019.

2020 186