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EIA expects summer US real gasoline and diesel prices to be the highest since 2014

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The US Energy Information Administration (EIA) forecasts that retail gasoline prices will average $3.84 After adjusting for inflation, this summer’s forecast national average price would mark the highest retail gasoline and diesel prices since 2014. gal and the average diesel price surpassed $5.00/gal.

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EIA forecasts 2023 global production of liquid fuels to exceed 101 MMb/d for first time

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Energy Information Administration (EIA) increased its forecast for the 2023 Brent crude oil price by 2.5% from its previous forecast. EIA expects the Brent crude oil spot price to average $85 per barrel in 2023, $3 per barrel higher than its March forecast. Despite OPEC+ announcing it would cut crude oil production by 1.2

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EIA projects global conventional gasoline and diesel LDV fleet will peak in 2038

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In the US Energy Information Administration’s (EIA’s) International Energy Outlook 2021 , released earlier this month, the EIA forecast that the global light-duty vehicle (LDV) fleet will grow from 1.31 billion vehicles in 2020 to 2.21 billion vehicles by 2050. of the global LDV fleet in 2020 to 31% in 2050, reaching 672 million vehicles.

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Acelen to invest $2.44 billion over 10 years to produce renewable diesel and SAF in Brazil

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billion) over the next 10 years in the production of renewable diesel and sustainable aviation fuel (SAF) through the hydrotreatment of vegetable oils and animal fat. In Abu Dhabi, Acelen signed a memorandum of understanding for the production of renewable diesel and SAF with the government of the Brazilian state of Bahia.

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

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The IEA June 2022 Oil Market Report (OMR) forecasts world oil demand to reach 101.6 mb/d in 2023, according to the forecast. Nevertheless, product markets are expected to remain tight, with a particular concern for diesel and kerosene supplies. mb/d this year, world oil demand is forecast to expand by 2.2 mb/d and 1.9

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ExxonMobil: diesel will surpass gasoline as the number one global transportation fuel by 2020

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Diesel will surpass gasoline as the number one transportation fuel worldwide by 2020 and continue to increase its share through 2040, according to ExxonMobil’s recently published Outlook For Energy: A View To 2040. Diesel demand accounts for 70% of the growth in demand for all transportation fuels through the forecast period to 2040.

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EIA expects record global petroleum consumption in 2024, with lower crude oil prices

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The US Energy Information Administration (EIA) expects global consumption of liquid fuels such as gasoline, diesel, and jet fuel, to set new record highs in 2024. EIA forecasts that the European benchmark Brent crude oil price will average less than $80 per barrel in 2024, more than 20% lower than in 2022. per gallon in 2024.