Remove Economy Remove Gasoline Remove Global Remove Oil
article thumbnail

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

Green Car Congress

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 also expects oil production in Canada, Brazil, and Norway collectively to grow 12% from 2022 to 2024, and also expects growth from new sources such as Guyana.

article thumbnail

IEA: global oil demand to decline in 2020 as coronavirus weighs on markets

Green Car Congress

Global oil demand is expected to decline in 2020 as the impact of the new coronavirus (COVID-19) spreads around the world, constricting travel and broader economic activity, according to the International Energy Agency’s (IEA’s) latest oil market forecast. The IEA now sees global oil demand at 99.9

Oil 300
article thumbnail

Use of leaded gasoline officially ends worldwide

Green Car Congress

When service stations in Algeria stopped providing leaded gasoline in July, the use of leaded gasoline in cars ended globally. This development follows an almost two-decades-long campaign by the UN Environment Programme (UNEP)-led global Partnership for Clean Fuels and Vehicles (PCFV).

Gasoline 281
article thumbnail

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

Green Car Congress

The IEA June 2022 Oil Market Report (OMR) forecasts world oil demand to reach 101.6 In contrast to 2022 when the OECD led the expansion, non-OECD economies are set to account for nearly 80% of growth next year. Global refining capacity is set to expand by 1 mb/d in 2022 and 1.6 mb/d in 2022 to 2.2 mb/d in 2022 to 2.2

Oil 210
article thumbnail

Baker Institute team says fossil fuel subsidies need global reform

Green Car Congress

There is evidence that fossil fuel subsidies are socially inequitable, that they encourage smuggling and waste, and distort economies in ways that undermine economic efficiency while harming the environment and the climate,” wrote Jim Krane, the Wallace S. 5 consumer of oil,” Krane said.

article thumbnail

IEA: record oil output from US, Brazil, Canada and Norway to keep global markets well supplied

Green Car Congress

Oil production growth from the United States, Brazil, Canada and Norway can keep the world well supplied, more than meeting global oil demand growth through 2020, but more investment will be needed to boost output after that, according to the International Energy Agency’s latest annual report on oil markets. mb/d in 2017.

Brazil 218
article thumbnail

IHS Markit: US gasoline demand could be cut almost in half due to COVID-19

Green Car Congress

A sudden drop in miles traveled by car in the US triggered by wide-spread social isolation measures will have immediate ramifications for gasoline demand. IHS Markit analysis finds that US gasoline demand could fall by as much as 4.1 The four-week average US gasoline demand for the week ending 6 March 2020 was 9.1 million units.

Gasoline 269