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EIA forecasts crude oil prices will decline through 2023

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Global oil consumption outpaced oil production for the six consecutive quarters ending with the fourth quarter of 2021 (4Q21), which has led to persistent withdrawals from global oil inventories and significant increases in crude oil prices.

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Albemarle ups lithium demand forecast to 3.7 MMt in 2030, calls for higher prices to support new projects to meet demand gap

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In its 2023 Strategic Update , Albemarle Corporation raised its forecast for 2030 global lithium demand (LCE, lithium carbonate equivalent) to 3.7MMt—an increase of 15% from its previous forecast due to the impact of the US “Inflation Reduction Act” and strong EV demand. to 2 years).

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EIA expects significant increases in US wholesale electricity prices this summer

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The US Energy Information Administration (EIA) forecasts that prices in US wholesale electricity markets this summer will significantly increase over last summer’s prices. EIA forecasts summer electricity prices will average $98/MWh in California’s CAISO market and $90/MWh in the ERCOT market in Texas.

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EIA forecasts rising global oil production will limit price increases

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In the June Short-Term Energy Outlook (STEO), the US Energy Information Administration (EIA) forecasts that rising global production of petroleum and other liquid fuels (driven by OPEC, Russia, and the United States) will limit price increases for global crude oil benchmarks Brent and West Texas Intermediate (WTI). million b/d in 2022.

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Battery-grade lithium carbonate forecast to trade at $74K/tonne in 12 months

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Trading Economics global macro models and analysts expectations forecast battery-grade lithium carbonate to trade at 504,813 CNY (US$74,000) per tonne in 12 months time. Lithium carbonate is forecast to trade near its high. Lithium is expected to trade at 484,185.00 by the end of this quarter. Source: Trading Economics. Earlier post.).

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Australia forecasts lithium export earnings of $16B in 2022-23, up from $5B in 2021-22

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Among the lithium-specific findings of the report: Spodumene prices are estimated to rise from an average of US$598 a tonne in 2021 to US$2,700 a tonne in 2022, and US$4,010 a tonne in 2023 before moderating to US$3,130 in 2024. In 2022–23 Australia’s export earnings are forecast to more than triple — from $4.9 billion, and $17.0

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BNEF forecasts global energy storage market to grow 15-fold by 2030 to 411 GW/1194 GWh

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Energy storage installations around the world are projected to reach a cumulative 411 GW (or 1,194 GWh) by the end of 2030, according to the latest forecast from research company BloombergNEF (BNEF). Record electricity prices are forcing consumers to consider new forms of energy supply, driving the residential storage market in the near term.