article thumbnail

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

Green Car Congress

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. The Henry Hub natural gas price will average $8.59 —EIA Administrator Joe DeCarolis. and by 1.5%

Oil 344
article thumbnail

US Shale Is Immune To An Oil Price Crash In 2017

Green Car Congress

shale in particular—is effectively capping the oil price gains from that agreement. Four months after the OPEC/NOPEC deal took effect, oil prices dropped to the levels preceding the agreement, amid concerns over still stubbornly high inventories and rising U.S. oil production,” the consultancy noted.

article thumbnail

IHS Markit says outlook for crude oil prices strengthens through 2021

Green Car Congress

Oil markets have returned to relatively stable ground with Brent prices within a narrow $40-$45 per barrel range and could conclusively pass the $50 per barrel mark in the second half of 2021, according to Roger Diwan and the IHS Markit Energy Advisory Service. bbl in 2020 and $49.25/bbl bbl in 2021—up $7.09/bbl bbl and $5.25/bbl,

article thumbnail

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

Green Car Congress

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 Most commercial vehicle factories in mainland China have returned to production. The local industry is already recovering, with commercial vehicle plants re-opened.

2020 191
article thumbnail

Oxford Catalysts to supply 1,000 bpd commercial GTL plant

Green Car Congress

with a commercial, 1,000 barrel-per-day (bpd) Gas-to-Liquids (GTL) plant to be located at its Karns City, Pennsylvania facility. Due to the historically large gap between high oil prices and low gas prices in North America, we’re experiencing very strong interest from potential clients keen to take advantage of this arbitrage opportunity.

Supplies 225
article thumbnail

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

Green Car Congress

US regular gasoline retail prices averaged $2.78 In June, monthly retail gasoline prices averaged $3.06/gal, EIA forecasts regular-grade gasoline prices to average $2.92/gal Retail sales of electricity to the commercial sector also grow in the forecast, but they grow at the slightly slower pace of 2.1% gal in 1H20.

2019 243
article thumbnail

2019 NTEA Fleet Purchasing Outlook reveals continued strong demand for biodiesel in diesel trucks

Green Car Congress

Each year, NTEA conducts a comprehensive Fleet Purchasing Outlook Survey to better understand the commercial vehicle landscape, including interest levels for advanced truck technologies and alternative fuels. It is highly likely that clean energy solutions will remain relevant due to oil price instability.

Purchase 207