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EIA expects record global petroleum consumption in 2024, with lower crude oil prices

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EIA expects crude oil prices to decrease through 2023 and 2024, even as petroleum consumption increases, largely because growth in crude oil production in the United States and abroad will continue to increase over the next two years. Areas of uncertainty include Russian oil supply and OPEC production. per gallon in 2024.

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IEA: global oil demand to decline in 2020 as coronavirus weighs on markets

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Global oil demand is expected to decline in 2020 as the impact of the new coronavirus (COVID-19) spreads around the world, constricting travel and broader economic activity, according to the International Energy Agency’s (IEA’s) latest oil market forecast. The IEA now sees global oil demand at 99.9

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Nornickel presents market review of nickel and platinum group metals

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Nornickel revised its forecast for a nickel market surplus in 2023 from 110 kt to more than 200 kt, with the bulk of this coming from low-grade nickel. The forecast for nickel supply in 2023 is almost unchanged at 3.45 The forecast for nickel supply in 2023 is almost unchanged at 3.45 Mt to 3.22 Mt (7% year-on-year growth).

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Opinion: There Is No Such Thing As Peak Oil Demand

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Notwithstanding that oil demand has increased for over 150 years, it will eventually stop increasing. If oil demand were to reach an actual peak, then the top might be easier to predict. As it stands, the forecast models of demand are likely predicting peak demand far later than it will be. by Dwayne Purvis for Oilprice.com.

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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. In a speech made at the Association of International Petroleum Negotiators’ 2017 International Petroleum Summit, Johnston laid out his concerns for the future of oil. oil may not be able to fill.

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Berkeley Lab study forecasts China energy use will peak within 20 years; 356 million private cars by 2050

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Projected saturation of private cars in China by fuel type under the two scenarios. China’s energy use will level off well before mid-century even as its population edges past 1.4 billion due to the phenomenon of saturation, according to a new study by Berkeley Lab’s China Energy Group. Source: LBL. Click to enlarge.

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Good news – the world has a real chance of achieving its goal of tripling renewables by 2030

Baua Electric

The world added 50% more renewable capacity in 2023 than in 2022 –and that means it has a real chance of achieving the goal set by governments at the COP28 climate change conference of tripling global capacity by 2030. The increases in renewable energy capacity in the US, Europe, and Brazil also hit all-time highs.