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

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As oil prices remain unsteady and OPEC continues to make headlines every hour, the world is focused on oil’s immediate future. With this kind of impending discrepancy between supply and demand, the industry needs to start looking for new sources of oil, and quickly. by Haley Zaremba for Oilprice.com.

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The Next Oil Price Spike May Cripple The Industry

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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.

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2020 Thanksgiving week gasoline consumption in US lowest since 1997

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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.

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

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Roskill expects demand for molybdenum to drop by more than 8% in 2020. The molybdenum market enjoyed three years of growing demand between 2016 and 2018, but macroeconomic concerns and a slower steel market resulted in a 2.3% Consequently, molybdenum prices came under downward pressure. bbl in April 2020.

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$10-Trillion Investment Needed To Avoid Massive Oil Price Spike Says OPEC

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The OPEC published its World Oil Outlook 2015 (WOO) in late December, which struck a much more pessimistic note on the state of oil markets than in the past. On the one hand, OPEC does not see oil prices returning to triple-digit territory within the next 25 years, a strikingly bearish conclusion.

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

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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 decline in global real GDP in 2020. The local industry is already recovering, with commercial vehicle plants re-opened. China slowly gaining momentum after shutdown.

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3 Years Of Painful Cuts Sets Oil Markets Up For Serious Supply Crunch

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“It might be that we see quite a dramatic reduction in replacing the capacity and of course that will have an impact, eventually, on price.”. Oil companies are making painful cuts to spending, which will translate into much lower production than expected in the years ahead. The price acts as a self-correcting mechanism.

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