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IEA forecasts world oil demand to hit record 101.9 million b/d in 2023; non-OECD to account for 90% of growth

Green Car Congress

In its April Oil Market Report , the International Energy Agency (IEA) forecasts that world oil demand will climb by 2 mb/d in 2023 to a record 101.9 Extra cuts by OPEC+ will push world oil supply down 400 kb/d by end of 2023. million barrels per day. Jet/kerosene accounts for 57% of 2023 gains. mb/d versus 4.6 mb/d in 2022.

Oil 186
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EIA: New refineries will increase global refining capacity in 2022 and 2023; China leads

Green Car Congress

The International Energy Agency (IEA) estimates that global refining capacity decreased by 730,000 barrels per day (b/d) in 2021—the first decline in global refining capacity in 30 years. After Russia began its full-scale invasion of Ukraine in late February 2022, the impacts of reduced global refining capacity were exacerbated.

Global 448
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The U.S.-China Chip Ban, Explained

Cars That Think

Commerce Department issued new rules that clamped down on the export of certain advanced chips—which have military or AI applications—to Chinese customers. has blocked chip sales to individual Chinese customers. In response to the Russian invasion of Ukraine earlier this year, the U.S. It has now been over a month since the U.S.

China 85
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Opinion: The End Of An Era: Is The US Petrodollar Under Threat?

Green Car Congress

The reasons for the cozier relationship between the two giant powers are, of course, rooted in the Ukraine crisis and subsequent Western sanctions against Russia, combined with China’s need to secure long-term energy supplies. However, the Chinese have a problem in their plans for the yuan.

Russia 225
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Opinion: Is Russia Plotting To Bring Down OPEC?

Green Car Congress

Russia supplied about 30 percent (146.6 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. They include bans on financing for and the supply of critical equipment and technology to important Russian energy projects.

Russia 150
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Opinion: Oil Market ShowdownCan Russia Outlast The Saudis?

Green Car Congress

and EU Ukraine-related economic and financial sanctions. After the Chinese Central Bank unexpectedly devalued the Yuan by ~2 percent against the US$, bets that the Saudis would be forced to abandon the peg spiked. Pegged to the US$, Saudi crude, priced in US$ will become more expensive for the Chinese.

Russia 150
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SpaceX a bastion of independent US, European spaceflight amid Russian threats

Teslarati

Russia has invaded Ukraine without provocation, triggering a series of diplomatic responses – sanctions in particular – that recently culminated in the aggressor deciding to cut ties with Europe on a number of cooperative spaceflight projects. On the other half of the coin is the International Space Station.

Russia 125