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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.

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EIA projects increases in global energy consumption and emissions through 2050

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In its International Energy Outlook 2021 (IEO2021), EIA projects that strong economic growth, particularly with developing economies in Asia, will drive global increases in energy consumption despite pandemic-related declines and long-term improvements in energy efficiency. —Stephen Nalley.

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Today’s Stunted Oil Prices Could Cause Oil Price Shock In 2020

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As oil prices remain unsteady and OPEC continues to make headlines every hour, the world is focused on oil’s immediate future. shale production will continue to grow along with global demand. shale production will continue to grow along with global demand. by Haley Zaremba for Oilprice.com.

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Study finds carbon emissions benefits of reduction in oil demand depend on size of drop and global oil market structure

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Previous models have treated oil producers’ carbon footprint as if all barrels of oil are exactly the same, but with novel extraction technologies there is a great deal of variability in the global oil supply. It’s complex, and it’s not linear. Our model takes that into consideration. —Mohammad Masnadi.

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Opinion: Everyone Is Guessing When It Comes To Oil Prices

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Predicting and diagnosing the trajectory of oil prices has become something of a cottage industry in the past year. But along with all of the excess crude flowing from the oil patch, there is also an abundance of market indicators that while important, tend to produce a lot of noise that makes any accurate estimate nearly impossible.

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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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While higher prices and a weaker economic outlook are moderating consumption increases, a resurgent China will drive gains next year, with growth accelerating from 1.8 In contrast to 2022 when the OECD led the expansion, non-OECD economies are set to account for nearly 80% of growth next year. mb/d in 2022 to 2.2 mb/d in 2022 and 1.8

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Oil price tumbles after OPEC releases 2015 forecast

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The demand for oil in 2015 will drop to its lowest level since 2002 because of an oversupply of crude and stagnant economies in China and Europe, according to OPEC’s latest forecast. OPEC’s monthly report said demand for the cartel’s oil will fall to 28.9 OPEC’s monthly report said demand for the cartel’s oil will fall to 28.9