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EIA expects increased US crude oil production, with continued high petroleum prices in 2022

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The US Energy Information Administration (EIA) forecasts that US crude oil production will average 11.9 Despite the increases in production, EIA expects the Brent crude oil price to remain above $100 per barrel this year, according to the agency’s May 2022 Short-Term Energy Outlook (STEO). in the commercial sector.

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EIA expects global consumption of liquid fuels to surpass 2019 levels in 2022

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As outlined in its current Short-Term Energy Outlook , the US Energy Information Administration (EIA) estimates that global consumption of petroleum and liquid fuels averaged 92.3 EIA forecasts regular-grade gasoline prices to average $2.92/gal million barrels per day (b/d) for all of 2020, down by 8.6 million b/d from 2019.

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Chevron leveraging information technology to optimize thermal production of heavy oil with increased recovery and reduced costs

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Chevron’s focus on optimizing the thermal management of the Kern River field has resulted in a steady drop in the steam:oil ratio (barrels steam water per barrel oil), resulting in improved economics of the field even with slowly declining production. Data: California DOGGR. Click to enlarge. Source: Chevron. Click to enlarge.

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IHS Markit: global commercial vehicle production to drop 22% in 2020 in wake of COVID-19

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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% million units, in the wake of the COVID-19 pandemic.

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Is A Second OPEC Cut In The Cards?

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OPEC’s coordinated effort to curtail global supply has so far managed to put a floor under oil prices, which have been sitting modestly above US$50 since the deal was announced at the end of November last year. Analysts and experts are now mostly predicting that oil prices will remain below US$60 this year.

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Report finds Coal-to-Liquids and Oil Shale pose significant financial and environmental risks to investors

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Ceres recently released a new report concluding that coal-to-liquid (CTL) and oil shale technologies face significant environmental and financial obstacles—from water constraints, to technological uncertainties to regulatory and market risks—that pose substantial financial risks for investors involved in such projects.

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ADB approves $240M to help Kazakhstan modernize transport, improve connectivity

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The project will reconstruct and upgrade about 299 km (186 miles) of a deteriorated section of the Aktobe–Makat road in the western part of the country, and introduce a modern transport information system to increase road traffic safety and logistics effectiveness.