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IHS Markit: 10 MMb/d of oil production cuts coming

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IHS Markit Crude Oil Markets service expects up to 10 MMb/d of world oil production will be cut or shut-in from April to June 2020 as oil storage fills up and output from financially strapped companies begins to fall. If oil cannot be sold or stored, it cannot be produced. Something has to give. And it will.

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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. In a speech made at the Association of International Petroleum Negotiators’ 2017 International Petroleum Summit, Johnston laid out his concerns for the future of oil.

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EIA: light duty vehicle energy consumption to drop 25% by 2040; increased oil production, vehicle efficiency reduce US oil and liquid imports

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Energy consumption by light-duty vehicles in the United States, AEO2013 and AEO2014, 1995-2040 (quadrillion Btu). The rising fuel economy of LDVs more than offsets the modest growth in VMT, resulting in a 25% decline in LDV energy consumption decline between 2012 and 2040 in the AEO2014 Reference case. quadrillion Btu in 2012 to 12.1

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Cummins ATLAS light-duty diesel surpasses fuel economy targets, with criteria emissions lower than Tier 2/Bin 2

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The Cummins team not only surpassed all fuel-economy targets, but also achieved criteria emissions lower than the stringent Tier 2/Bin 2 levels. —Michael Ruth, Director/Technical Project Leader, Advanced Light-Duty. Test cycle fuel economy (mpg). This is approximately a 53% increase in CAFE fuel economy at 28.9

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Argonne study finds BEVs can have lowest scheduled maintenance costs, but highest cost of driving

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The study considers five different powertrains (internal combustion engine, hybrid-electric, plug-in hybrid-electric, fuel-cell-electric, and battery-electric) and 12 cost components (purchase cost, depreciation, financing, fuel, insurance, maintenance, repair, taxes, registration fees, tolls and parking, payload capacity and labor).

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GFEI: vehicle fuel economy is below global targets, jeopardizing action on climate and energy; failure of policy

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Worldwide, the vehicle fleet is not making enough progress on fuel economy and is failing to reach global targets aimed at reducing CO 2 emissions, cutting oil consumption and improving energy efficiency according to a new report from the Global Fuel Economy Initiative (GFEI) ( earlier post ) released at the Paris COP21 Climate Summit.

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IEA: global map of oil refining and trade to be redrawn over next 5 years

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Profound shifts in the regional distribution of oil demand and supply growth will redefine the refining industry and transform global oil trade over the next five years, according to the annual Medium-Term Oil Market Report (MTOMR) released by the International Energy Agency (IEA). The oil market is at a crossroads.

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