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

Green Car Congress

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). and by 1.5% in summer 2021.

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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. “

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Tesla’s production expansion, surging oil prices bring stock upgrade from Daiwa Securities

Teslarati

Tesla’s ( NASDAQ: TSLA ) plans to expand its production capacity, along with other factors like surging oil prices that could sway consumers to electric vehicles, have contributed to Daiwa Securities analysts upgrading their outlook on the automaker’s stock. The factory in Shanghai manufactured 51.7

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Oil prices could double by 2020, boosting electric car sales

Green Car Reports

Despite short term peaks and valleys, and a recent agreement by OPEC to ease production restrictions, the overall trend in oil prices is on the rise.

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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 US liquid fuels consumption will rise to 19.6 In June, monthly retail gasoline prices averaged $3.06/gal, million b/d in 2021. million b/d in 2022 to 101.4

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Lux Research: despite cheap oil, niche plug-in vehicle sales will be resilient; conventional hybrids to be hardest hit

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The current plunge in oil prices will likely negatively affect plug-in and hybrid vehicle sales in the short term; automakers such as BMW are already warning of lower sales of plug-in vehicles given the market context. Anticipated price of oil and forecast plug-in sales. Source: Lux Research.

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BNEF forecasts EVs to hit 54% of new car sales by 2040; decreasing importance of PHEVs

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Electric vehicles will make up the majority of new car sales worldwide by 2040, and account for 33% of all the light-duty vehicles on the road, according to a new forecast published by Bloomberg New Energy Finance (BNEF). This represents an aggressive jump compared to BNEF’s previous forecast of 35% EV new car market share by 2040.

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