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EIA expects increased US crude oil production, with continued high petroleum prices in 2022

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The US Energy Information Administration (EIA) forecasts that US crude oil production will average 11.9 Despite the increases in production, EIA expects the Brent crude oil price to remain above $100 per barrel this year, according to the agency’s May 2022 Short-Term Energy Outlook (STEO). million barrels per day this year and 12.8

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Report suggests low-speed electric vehicles could affect Chinese demand for gasoline and disrupt oil prices worldwide

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Low-speed electric vehicles (LSEVs) could reduce China’s demand for gasoline and, in turn, impact global oil prices, according to a new issue brief by an expert in the Center for Energy Studies at Rice University’s Baker Institute for Public Policy. “ —Gabriel Collins.

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EIA expects global consumption of liquid fuels to surpass 2019 levels in 2022

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In the EIA forecast, global consumption of liquid fuels rises by an additional 3.7 EIA forecasts US liquid fuels consumption will rise to 19.6 EIA forecasts global inventories will continue to fall in the near term but at a slower rate, with global inventories falling by 0.2 US regular gasoline retail prices averaged $2.78

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CMU/Yale study suggests BEVS could be majority or near-majority of cars and SUVs by 2030 given technology trends

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A suggestive market-wide simulation extrapolation indicates that if every gasoline vehicle had a BEV option in 2030, the majority of new car and near-majority of new sport-utility vehicle choice shares could be electric in that year due to projected technology improvements alone. —Forsythe et al. Forsythe et al. 2219396120

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

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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.

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Navigant forecasts hybrids to account for almost 4% of global LDV sales by 2020, plug-ins 3%

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Annual light duty electric vehicle sales by drivetrain, world markets: 2013-2020. In its latest forecast for hybrid and plug-in electric vehicle sales, Navigant Research expects that hybrid electric vehicles (HEVs), which today account for about 2% of global light duty vehicle sales, will grow to almost 4% of global LDV sales by 2020.

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BNEF forecasts EVs to be 35% of global new car sales by 2040; cost of ownership below conventional-fuel vehicles by 2025

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A new study by Bloomberg New Energy Finance (BNEF) forecasts that sales of electric vehicles will hit 41 million by 2040, representing 35% of new light duty vehicle sales worldwide. This would be almost 90 times the equivalent figure for 2015, when EV sales are estimated to have been 462,000, some 60% up on 2014.

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