Remove Conversion Remove Oil Remove Oil Prices Remove Price
article thumbnail

EIA forecasts crude oil prices will decline through 2023

Green Car Congress

Global oil consumption outpaced oil production for the six consecutive quarters ending with the fourth quarter of 2021 (4Q21), which has led to persistent withdrawals from global oil inventories and significant increases in crude oil prices.

article thumbnail

Navigant: almost 39,300 natural gas refueling stations worldwide by 2026

Green Car Congress

Since late 2014, the production of crude oil has outpaced demand, triggering a sustained collapse in world oil prices, which have remained mostly below $50 per barrel. As a result, these low prices have put pressure on the market for natural gas vehicles (NGVs) and the corresponding refueling infrastructure.

Gas 150
article thumbnail

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

Green Car Congress

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. In the IEO2011 Reference case the price of light sweet crude oil (in real 2009 dollars) remains high, reaching $125 per barrel in 2035.

Oil-Sands 220
article thumbnail

Purdue analysis finds H2Bioil biofuel could be cost-competitive when crude is between $99–$116/barrel

Green Car Congress

Their analysis is published in the journal Biomass Conversion and Biorefinery. The break-even crude oil price for a delivered biomass cost of $94/metric ton when hydrogen is derived from coal, natural gas or nuclear energy ranges from $103 to $116/bbl for no carbon tax and even lower ($99–$111/bbl) for the carbon tax scenarios.

article thumbnail

IHS Markit: 2020 low-sulfur requirements for marine bunker fuels causing scramble for refiners and shippers

Green Car Congress

Heavy fuel oil (HFO) is the predominant marine fuel. Refiners will experience significant price impacts as they shift production to deliver more lower-sulfur fuels to the market and, at the same time, find a market for the higher-sulfur fuels they produce. It is viscous, dirty, inexpensive and widely available.

Mariner 150
article thumbnail

IHS Markit: shippers, refiners scrambling to respond to IMO signals on low-sulfur fuel enforcement

Green Car Congress

The level of compliance by shippers has been widely viewed as the one of the greatest uncertainties surrounding the implementation of the IMO’s new marine fuel regulations, and the compliance level has a significant weighting on projections for refined fuel prices, spreads and margins during the IMO 2020 disruption period,IHS Markit said.

Fuel 170
article thumbnail

KPMG survey finds majority of energy execs see oil over $121/barrel this year; shale expected to have transformative impact, investment in alternatives increasing

Green Car Congress

Energy executives expect continued volatility in the price-per-barrel of oil for the remainder of the year, with 64% predicting crude prices to exceed $121 per barrel. Only 35% think current crude prices are near the high they expect for oil this year, predicting the peak will be between $111 and $120 per barrel.

Oil 225