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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.

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Tesla’s production expansion, surging oil prices bring stock upgrade from Daiwa Securities

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Tesla’s ( NASDAQ: TSLA ) plans to expand its production capacity, along with other factors like surging oil prices that could sway consumers to electric vehicles, have contributed to Daiwa Securities analysts upgrading their outlook on the automaker’s stock. The factory in Shanghai manufactured 51.7

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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. These important questions aren’t getting enough attention according to Johnston, whose firm Eurasia Group foresees a fast-approaching supply gap that Saudi Arabia and U.S.

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

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Mine supply continued to edge higher in 2019, albeit by a relatively slow 0.7%—an It is used in steel alloys to increase strength, hardness, electrical conductivity and resistance to corrosion and wear. Consequently, molybdenum prices came under downward pressure. decline in 2019. Most molybdenum is used to make alloys.

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Global CO2 emissions up 3% in 2011; per capita CO2 emissions in China reach EU levels

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savings stimulated by high oil prices led to a decrease of 3% in CO 2 emissions in the European Union and of 2% in both the United States and Japan. Emissions from OECD countries now account for only one third of global CO 2 emissions—the same share as that of China and India. Coal consumption in China increased by 9.7%

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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

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Unconventional liquids become increasingly important in the total supply of liquid fuels, according to IEO2011. World oil prices remain high in the IEO2011 Reference case, but oil consumption continues to grow; both conventional and unconventional liquid supplies are used to meet rising demand. Click to enlarge.

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BP Statistical Review finds global oil share down for 12th year in a row, coal share up to highest level since 1969; renewables at 2%

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China alone accounted for 71% of energy consumption growth. Oil demand grew by less than 1%—the slowest rate amongst fossil fuels—while gas grew by 2.2%, and coal was the only fossil fuel with above average annual consumption growth at 5.4% Gas production globally grew by 3.1%; the US recorded 7.7%

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