article thumbnail

IEA forecasts global oil demand to reach 101.6 mb/d in 2023; non-OECD countries lead expansion

Green Car Congress

Despite economic headwinds, steady demand for light sweet crude in a tight physical market is boosting marker grade prices as they are in the same crude quality family. Since 6 June, WTI and Brent futures have averaged above $120/bbl. North Sea Dated hit $127.9/bbl bbl on 13 June. Runs are forecast to rise by 3.5

Oil 210
article thumbnail

Saudis Expand Price War Downstream

Green Car Congress

On the other hand, it won’t be easy for Saudi Arabia—Chinese refiners are also producing more gasoline, for which demand is still strong. Moreover, Indian refiners are now moving away from Saudi Arabia which was previously India’s largest crude oil supplier. However, one cannot easily neglect the Indian and Chinese refiners.

article thumbnail

Deutsche Bank Forecast sees slower transportation electrification and greater gasoline demand near-term; increased confidence in the pace and breadth of long-term shift to efficient transportation systems

Green Car Congress

” Their analysis is in the context of the “ surprising [oil] demand strength of 2010 “; 2010 saw absolute incremental demand at around 2.2mb/d of growth—the second highest in 30 years, despite oil prices in the $90/bbl region. ” The team suggests that this may be the last extension for the credit.

article thumbnail

Opinion: Is Russia Plotting To Bring Down OPEC?

Green Car Congress

The Saudi decision to let the market set prices and to pursue market share, has led to steep declines in crude and petroleum product prices. The decision also has impacted natural gas export prices negatively, since, for Russia's long-term supply agreements, they wholly or partially are indexed to oil prices.

Russia 150
article thumbnail

Opinion: Saudis Could Face An Open Revolt At Next OPEC Meeting

Green Car Congress

OPEC next gathers December 4 in Vienna, just over a year since Saudi Oil Minister Ali Al-Naimi announced at the previous OPEC winter meeting the Saudi decision to let the oil market determine oil prices rather than to continue Saudi Arabia's role of guarantor of $100+/bbl oil. The December 2015 OPEC Meeting.

article thumbnail

VW Chief Executive Says Company Will Introduce EVs Based on the Up! New Small Family in 2013; Cautions Against Electro-Hype

Green Car Congress

Within a decade, he added, Volkswagen wants to offer significant numbers of pure electric cars at affordable prices and with the range expected by customers. The perspective of rising oil prices is a turboboost for a change in customer behavior, he said. Background. Currently, cars contribute. about 7% of global CO 2 emissions.

2013 150
article thumbnail

Andy Grove: The U.S. must create an electric car industry - Apr. 17, 2009

Tony Karrer Delicious EVdriven

REDDIT STUMBLE UPON MYSPACE MIXX IT Paste this link into your favorite RSS desktop reader See all CNNMoney.com RSS FEEDS ( close ) By Andy Grove April 17, 2009: 9:30 AM ET The great electric car race High oil prices, green regs, and better batteries are behind the mad dash to create the ultimate electric automobile. rivals in the dust.

2009 39