article thumbnail

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. —Narmadha Navaneethan, director, North America upstream research, IHS Markit.

article thumbnail

EIA forecasts 2023 global production of liquid fuels to exceed 101 MMb/d for first time

Green Car Congress

Energy Information Administration (EIA) increased its forecast for the 2023 Brent crude oil price by 2.5% This change came after OPEC and its partner countries (OPEC+) announced crude oil production cuts for 2023. Despite OPEC+ announcing it would cut crude oil production by 1.2 from its previous forecast.

Global 210
article thumbnail

Opinion: Consumers winning with low oil prices, for now

Green Car Congress

Lest we be too quick to forget whence we came, America is now 9-months into lower gasoline prices, which started their swoon the week of June 30, 2015 from a lofty national average just under $3.70, tumbling almost every subsequent week before bottoming and bouncing from $2.02 by Thomas Miller for Oilprice.com. Bernard Weinstein, Ph.D.,

article thumbnail

IHS Markit: global oil demand still growing in the short term despite increasing focus on EVs

Green Car Congress

Short-term oil demand is still growing strong and will continue to do so through the end of 2020 despite the market’s increasing focus on electric vehicles and the forecasted future plateau in oil demand, according to new analysis from IHS Markit, a global business information provider. Source: IHS Markit 2018.

Oil 276
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

Navigant forecasts global light duty electrified vehicle sales to exceed 6.0M in 2024; PEVs to account for roughly half

Green Car Congress

In a new report, Electric Vehicle Market Forecasts , Navigant research projects that under its base scenario, global sales of light duty electrified vehicles (i.e., These include the dive in oil prices that began in mid-2014, as well as the phasing out of some local government purchase incentives. million in 2024.

Light 150
article thumbnail

Annual global oil & gas capital expenditure to pass $1-trillion mark in 2012

Green Car Congress

Investor confidence in new upstream projects is being driven by the increasing number of oil and gas discoveries (242 last year alone), combined with consistently high oil prices and the arrival of new technologies that are giving the major firms access to deep offshore reserves that were previously technically and financially unviable.

Oil 210