IHS Markit: oil price collapse will change trajectory of North American gas supply

Green Car Congress

The trajectory of North American gas supply is set to change radically as a result of the fall in oil prices that has occurred due to COVID-19 and the breakdown in production cooperation between OPEC and Russia, according to IHS Markit. Prior to the global pandemic, languishing North America gas demand and near-full storage was already pushing gas supply and prices to near-record lows in 2020. Market Background Natural Gas Oil

2020 74

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 Individual regional forecasts are set to a downtrend, and supply chain impacts are being felt, as the consequences of the virus have shuttered manufacturing and supplier facilities around the world. decline in global real GDP in 2020.

2020 70

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Trending Sources

IHS Markit: global oil production now expected to be cut by as much as 17 MMb/d in Q2 2020; the Great Shut-In

Green Car Congress

The second quarter of 2020 will see the largest volume of liquids production cuts, including shut-in production, in the history of the oil industry, according to IHS Markit. IHS Markit now expects much as 17 MMb/d total liquids output (which includes nearly 14 MMb/d of crude oil production) to be cut or shut-in during the period between April and June 2020. The Great Shut-In, a rapid and brutal adjustment of global oil supply to a lower level of demand is underway.

2020 64

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. As Saudi Arabia announces plans to slash production and move their economy away from oil dependency, many industry insiders are predicting that the now over-saturated market will reach an equilibrium with higher commodity prices by 2018 and U.S. oil may not be able to fill. Market Background Oil

Opinion: Why oil prices must go up

Green Car Congress

It may be difficult to look beyond the current pricing environment for oil, but the depletion of low-cost reserves and the increasing inability to find major new discoveries ensures a future of expensive oil. The industry did not log a single “giant” oil field.

VW eGolf supply, rising oil prices in 2020, and an electric double-decker bus: Today's Car News

Green Car Reports

The Volkswagen eGolf is in extremely short supply. Analysts forecast oil prices may double by 2020. The VW eGolf may be in short supply while the automaker gears up for Los Angeles introduces the first electric double-decker bus. And Ontario, Canada, ends a rebate program for electric cars and chargers. All of this and more on Green Car Reports.

IHS Markit: US oil producers to halt 1.75 MMb/d per day of production; Canada to cut 0.5 MMb/d

Green Car Congress

Due to the collapse in oil prices, IHS Markit expects US producers are in the process of curtailing about 1.75 million barrels per day (MMb/d) of existing production by early June due to operating cash losses, lack of demand and storage capacity, and an unwillingness to sell resources at the very low prices available since the onset of the COVID-19 crisis. Forecasts Market Background Oil

2020 68

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

Green Car Congress

OPEC says that $10 trillion worth of investment will need to flow into oil and gas through 2040 in order to meet the world’s energy needs. 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. Market Background Oil

2015 73

BNEF: Oil price plunge to have only moderate impact on low-carbon electricity development, but likely to slow EV growth

Green Car Congress

The collapse in world oil prices in the second half of 2014 will have only a moderate impact on the fast-developing low-carbon transition in the world electricity system, according to research firm Bloomberg New Energy Finance. However, the slump in the Brent crude price per barrel from $112.36 For example, if lower oil prices last, they are likely to slow the growth of the electric vehicle market, to some extent.

2014 90

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

Green Car Congress

shale has thrown in another unknown in the mix of factors driving the price of oil. 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. But analyst projections about oil global supply and demand are increasingly diverging, because expectations of the combined effects of OPEC’s cuts, U.S.

2017 60

Opinion: Global Oil Supply More Fragile Than You Think

Green Car Congress

Many oil companies had trimmed their budgets heading into 2015 to deal with lower oil prices. But the collapse of prices in July—owing to the Iran nuclear deal, an ongoing production surplus, and economic and financial concerns in Greece and China—have darkened the mood. Now a prevailing sense that oil prices may stay lower for longer has hit the markets. That brings us back to the large spending cuts the oil majors are undertaking.

2015 73

IHS Markit: 2020 low-sulfur requirements for marine bunker fuels causing scramble for refiners and shippers

Green Car Congress

On 27 October 2016, the International Maritime Organization (IMO) announced that beginning on 1 January 2020, the maximum sulfur content allowed in marine bunker fuel will be reduced from 3.50% mass by mass (m/m) to 0.50% m/m (35,000 ppm to 5,000 ppm)—five years earlier than many expected.

2017 78

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

Green Car Congress

Total global oil production could decline for the next several years in a row as scarce new sources of supply come online. According to data from Rystad Energy, overall global oil output will fall this year as natural depletion overwhelms all new sources of supply. 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.”. The price acts as a self-correcting mechanism.

2016 65

Forecast: Algae-Based Biofuels Production to Reach 61M Gallons per Year by 2020

Green Car Congress

billion by 2020. Countries with significant dependence on foreign imports of oil will likely show increased interest in algae-based biofuels if oil prices continue to rise over the next decade. Pike Research’s study, “Algae-Based Biofuels”, examines the key growth drivers behind the algae-based biofuels market and outlines unresolved supply challenges.

2010 103

Ricardo study suggests global oil demand may peak before 2020, falling to below 2010 levels by 2035

Green Car Congress

Global demand for oil may well peak before 2020, falling back to levels significantly below 2010 demand by 2035, according to a multi-client research study conducted by Ricardo Strategic Consulting launched in June 2011 in association with Kevin J. Further, improved supply prospects for natural gas are likely to lead to decoupling of oil and gas markets, according to the study. The world is nearing a paradigm shift in oil demand.

2011 74

Syncrude to Expand Its Oil Sands Synthetic Crude Output to 425,000 Barrels per Day by 2020

Green Car Congress

Canadian Oil Sands Trust, the largest stakeholder (36.74%) in the Syncrude oil sands project, announced plans to increase the synthetic crude oil production capacity at Syncrude Mildred Lake upgrader to 425,000 barrels per day by 2020 from 350,000 now. The expanded upgrader capacity would be supplied by bitumen from the undeveloped Aurora South mine. Marcel Coutu, Canadian Oil Sands’ President and CEO. and Imperial Oil.

Huge Backlog Could Trigger New Wave Of Shale Oil

Green Car Congress

That leaves a rather large backlog that could add a wave of new supply, even if the pace of drilling begins to slow. Some level of DUCs is normal, but the ballooning number of uncompleted wells has repeatedly fueled speculation that a sudden rush of new supply might come if companies shift those wells into production. The latest crash in oil prices once again raises this prospect. It’s really 2020 and 2021.”. Market Background Oil

2019 81

Bank of America: Oil Demand Growth to Hit Zero Within a Decade, EVs the Culprit

Green Car Congress

By 2030, oil demand could hit a peak and then enter decline, according to a new report. For the next decade or so, oil demand should continue to grow, although at a slower and slower rate. According to Bank of America Merrill Lynch, the annual increase in global oil consumption slows dramatically in the years ahead. An executive from Ford said recently that automakers might feel compelled to invest directly in cobalt production over fears of securing adequate supply. “I

2019 100

Opinion: Could WTI Trade At A Premium To Brent By Next Year?

Green Car Congress

A flood of bearish news has pushed down oil prices to their lowest levels in months, with WTI nearing $45 per barrel and Brent flirting with sub-$50 territory. With a bear market back, there is pessimism throughout the oil markets. Market Background Oil Opinion

2015 96

EIA AEO2015 projects elimination of net US energy imports in 2020-2030 timeframe; transportation energy consumption drops

Green Car Congress

The Annual Energy Outlook 2015 (AEO2015) released today by the US Energy Information Administration (EIA) projects that US energy imports and exports will come into balance—a first since the 1950s—because of continued oil and natural gas production growth and slow growth in energy demand. In cases with the highest supply and lowest demand outlooks, the United States becomes a significant net exporter of energy. trillion cubic feet (Tcf) in the Low Oil Price case to 13.1

2015 77

EIA projects world energy use to increase 53% by 2035; oil sands/bitumen and biofuels account for 70% of the increase in unconventional liquid fuels

Green Car Congress

Unconventional liquids become increasingly important in the total supply of liquid fuels, according to IEO2011. In the IEO2011 Reference case the price of light sweet crude oil (in real 2009 dollars) remains high, reaching $125 per barrel in 2035. Forecasts Fuels Oil Oil sands

EIA: world energy consumption to grow 56% 2010-2040, CO2 up 46%; use of liquid fuels in transportation up 38%

Green Car Congress

However, fossil fuels continue to supply nearly 80% of world energy use through 2040. Natural gas is the fastest-growing fossil fuel, as global supplies of tight gas, shale gas, and coalbed methane increase. World energy consumption by fuel type, 2010-2040. Source: IEO2013.

2013 134

Harvard Kennedy School researcher forecasts sharp increase in world oil production capacity and risk of price collapse

Green Car Congress

World oil production capacity to 2020 (crude oil and NGLs, excluding biofuels). Oil production capacity is surging in the United States and several other countries at such a fast pace that global oil output capacity could grow by nearly 20% from the current 93 million barrels per day to 110.6 mbpd by 2020, according to a new study by a researcher at the Harvard Kennedy School. shale oil production. Oil: The Next Revolution."

2012 88

IEA World Energy Outlook 2013 sees CO2 emissions rising by 20% to 2035; oil use on upward trend

Green Car Congress

China is about to become the largest oil-importing country and India becomes the largest importer of coal by the early 2020s. The Middle East becomes the world’s second-largest gas consumer by 2020 and third-largest oil consumer by 2030, redefining its role in global energy markets.

2013 119

Honda May Develop Plug-In as Obama Alters U.S. Policy (Update2) - Bloomberg.com

Tony Karrer Delicious EVdriven

from its reliance on imported oil. customers $600 a month to lease.Honda hasn’t revealed its production price. are also developingfuel-cell cars, those companies, as well as Honda, don’t expecthydrogen to be competitive with gasoline autos until about 2020.

2009 58

IHS Markit: shippers, refiners scrambling to respond to IMO signals on low-sulfur fuel enforcement

Green Car Congress

Barrow, along with Sandeep Sayal, vice president, downstream energy research at IHS Markit, is author of a new quarterly IHS Markit research deliverable dedicated to analysis of the impact of the IMO Low-Sulfur Bunker Fuels Regulations, entitled “IMO 2020—The Global Bunker Fuel Sulfur Cap.”.

2018 85

Study Finds That CO2 Standards for Vehicles Can Reduce Price of Oil

Green Car Congress

A new study by the French institute Enerdata, commissioned by the European Federation for Transport & Environment (T&E), suggests that the European CO 2 standards for new vehicles due to come into effect in 2012 will lead not only to a European savings on oil (mainly via lower oil import volumes) but also to slightly lower global oil prices. reduction in global oil consumption results in a drop in global oil prices of 1.2%.

2009 60

Study: Kerry-Lieberman Bill Would Cut US Oil Imports By Up to 40% Below Current Levels

Green Car Congress

This would cut US spending on imported oil by $51 to $93 billion per year and, by lowering global oil prices, reduce oil producer revenues by $263 to $436 billion annually by 2030. The Act would establish an economy-wide carbon price starting at $16.47

2010 100

AECOM study finds EV adoption in Victoria can offer significant economic benefits by late 2020s; PHEVs initially lead uptake

Green Car Congress

Such economic benefits could be realized earlier through effective policies which reduce first mover costs in the short term and promote rapid take-up once non-ICE vehicle price premiums reduce to levels that make them affordable to. electricity supply to provide the necessary protections from higher voltages. The analysis is based on central forecasts of oil price, electricity. range and higher fuel prices make EVs more competitive.

2011 74

Study finds government and vehicle manufacturers need to introduce long-term incentives and prices cuts to create sustainable market for ultra-low emission vans

Green Car Congress

Governments and vehicle manufacturers will need to introduce long-term incentives and price cuts to create a sustainable European market for ultra-low emission vans (ULEV), according to a newly published report by Element Energy, commissioned by the UK Department for Transport. Total costs of ownership were calculated for the full range of powertrains and van sizes in 2011, 2020 and 2030, taking account of depreciation and financing costs, fuel costs, servicing and insurance.

2012 80

BP Energy Outlook 2030 sees emerging economies leading energy growth to 2030; global CO2 emissions from energy well above IEA 450 scenario

Green Car Congress

Natural gas is projected to be the fastest growing fossil fuel, and coal and oil are likely to lose market share as all fossil fuels experience lower growth rates. OECD oil demand peaked in 2005 and in 2030 is projected to be roughly back at its level in 1990.

2011 96

EIA Energy Outlook 2013 reference case sees drop in fossil fuel consumption as use of petroleum-based liquid fuels falls; projects 20% higher sales of hybrids and PHEVs than AEO2012

Green Car Congress

AEO2013 offers a number of other key findings, including: Crude oil production , especially from tight oil plays, rises sharply over the next decade. Domestic oil production will rise to 7.5 Biofuels grow at a slower rate due to lower crude oil prices and.

2012 102

IEA World Energy Outlook view on the transport sector to 2035; passenger car fleet doubling to almost 1.7B units, driving oil demand up to 99 mb/d; reconfirming the end of cheap oil

Green Car Congress

Change in primary oil demand by sector and region in the central New Policies Scenario, 2010-2035. Under the WEO 2011 central scenario, oil demand rises from 87 million barrels per day (mb/d) in 2010 to 99 mb/d in 2035, with all the net growth coming from the transport sector in emerging economies. Alternative technologies, such as hybrid and electric vehicles that use oil more efficiently or not at all, continue to advance but they take time to penetrate markets. Supply.

2011 85

EIA Energy Outlook 2011 more than doubles estimates of US shale gas resources; higher production at lower prices

Green Car Congress

Shale gas offsets declines in other US supply to meet. This larger resource leads to about double the shale gas production and more than 20% higher total lower-48 natural gas production in 2035, with lower natural gas prices, than was projected in the AEO2010 Reference case.

2010 93

IEA WEO-2012 finds major shift in global energy balance but not onto a more sustainable path; identifies potential for transformative shift in global energy efficiency

Green Car Congress

The WEO finds that the extraordinary growth in oil and natural gas output in the United States will mean a sea-change in global energy flows. In the New Policies Scenario, the WEO ’s central scenario, the United States becomes a net exporter of natural gas by 2020 and is almost self-sufficient in energy, in net terms, by 2035. barely rises in OECD countries, although there is a pronounced shift away from oil, coal (and, in some countries, nuclear) towards natural gas and renewables.

2012 78

EIA: light duty vehicle energy consumption to drop 25% by 2040; increased oil production, vehicle efficiency reduce US oil and liquid imports

Green Car Congress

The differences from AEO2013 to AEO2014 result from different fuel prices, updated manufacturer product offerings, changing technology attributes, and an updated view of consumer perceptions of infrastructure availability for E85 vehicles. With domestic crude oil production rising to 9.5

2013 125

Stanford, UC Santa Cruz study explores ramifications of demand-driven peak to conventional oil

Green Car Congress

In contrast to arguments that peak conventional oil production is imminent due to physical resource scarcity, a team from Stanford University and UC Santa Cruz has examined the alternative possibility of reduced oil use due to improved efficiency and oil substitution.

2013 96

US National Research Council Report Finds Plug-in Hybrid Costs Likely to Remain High; Fleet Fuel Consumption and Carbon Emissions Benefits Will Be Modest for Decades

Green Car Congress

The cost to manufacture these vehicles is expected to decline by about one-third by 2020 but only slowly thereafter. Penetration rates for the PHEV-10 and the PHEV-40 were compared to a Reference Case that assumes high oil prices and fuel economy standards specified by EISA 2007 (with modest increases after 2020, when those standards level off), as described in the 2008 Hydrogen Report from NRC. NRC projections of number of PHEVs in the US light-duty fleet.

2009 68

Refiners and Truckers Associations Challenge California LCFS in Federal Court

Green Car Congress

NPRA was joined in the suit by the American Trucking Associations (ATA); the Center for North American Energy Security, an organization dedicated to the development of oil sands, oil shale and other unconventional resources in North America; and the Consumer Energy Alliance, an organization advocating, among other things, more access to offshore and onshore oil & natural gas.

2010 71

Perspective: Toyota Prius Recall Is Only a Bump in the Road in the Move Toward Electrification

Green Car Congress

Oil price and supply dependencies will continue the search for alternative fuel sources, and battery powered vehicles can have a significant impact on that equation. This price reduction will create the economic incentive to appeal to a broader consumer base. We are also confident that the adoption tipping point gets closer every day, and that our estimates of 10% of PHEV/EV adoption and as much as 20% Mild/Full-HEV adoption by 2020 are still right on track.

2010 68