Green Car Congress

APRIL 13, 2023

Energy Information Administration (EIA) increased its forecast for the 2023 Brent crude oil price by 2.5% This change came after OPEC and its partner countries (OPEC+) announced crude oil production cuts for 2023. Despite OPEC+ announcing it would cut crude oil production by 1.2 from its previous forecast.

Global 210

Global Fuel Production South America 210

Green Car Congress

APRIL 29, 2022

China processed record amounts of crude oil in 2021 to meet rising domestic consumption of petroleum products, according to analysis by the US Energy Information Administration (EIA). According to China’s National Bureau of Statistics, China processed a record 14 million barrels per day (b/d) of crude oil in 2021, a 4.6%

Oil 370

Oil Gasoline China Diesel 370

Green Car Congress

OCTOBER 23, 2014

The number of active rigs drilling for oil and gas fell by their most in two months, according to the latest data from oil services firm Baker Hughes. There were 19 oil rigs that were removed from operation as of Oct. There are now 1,590 active oil rigs, the lowest level in six weeks. 17, compared to the prior week.

Oil Prices 247

Oil Prices Oil Saudi Arabia Oil-Sands 247

Green Car Congress

AUGUST 25, 2017

Two diametrically opposed views dominate the current debate about where the oil price is heading. On the other hand, however, there is the view that the price of oil is set to explode, primarily due to underinvestment in the upkeep of brownfields , development of greenfields , and exploration for new resources.

Oil Prices 170

Oil Prices Oil Industrial Industry 170

Green Car Congress

NOVEMBER 4, 2021

New research led by Mohammad Masnadi, assistant professor of chemical and petroleum engineering at the University of Pittsburgh Swanson School of Engineering, offers a closer look at the relationship between decreasing demand for oil and a resilient, varied oil market—and the carbon footprint associated with both.

Oil 305

Oil Carbon Global Market 305

Green Car Congress

AUGUST 12, 2015

Saudi Arabia has long enjoyed the status of being the top crude oil exporter in the world. With record production of 10.564 million barrels per day in June 2015, Saudi Arabia has been one of the major driving forces behind the current oil price slump. million barrels of low sulfur diesel to the European and Asian markets.

Oil Prices 150

Oil Prices Saudi Arabia Oil Price 150

Green Car Congress

DECEMBER 22, 2014

The collapse in world oil prices in the second half of 2014 will have only a moderate impact on the fast-developing low-carbon transition in the world electricity system, according to research firm Bloomberg New Energy Finance. However, the slump in the Brent crude price per barrel from $112.36 on 30 June to $61.60

Oil Prices 268

Oil Prices Oil Price Carbon 268

Green Car Congress

APRIL 20, 2022

After adjusting for inflation, this summer’s forecast national average price would mark the highest retail gasoline and diesel prices since 2014. EIA expects higher fuel prices this summer as a result of higher crude oil prices. Greater demand will contribute to higher crude oil prices.

Gasoline 259

Gasoline 2014 Diesel Price 259

Green Car Congress

MARCH 13, 2015

Columbia and Associate Director of the Maguire Energy Institute at the Cox School of Business at Southern Methodist University in Dallas says it has: “No question we’re seeing the effects of lower oil prices throughout the economy.”. decline curves eventually catch up with fewer rigs, oil supplies should start to fall.

Oil Prices 150

Oil Prices Oil Price Dallas 150

Green Car Congress

JULY 8, 2021

As outlined in its current Short-Term Energy Outlook , the US Energy Information Administration (EIA) estimates that global consumption of petroleum and liquid fuels averaged 92.3 EIA expects that global liquid fuels consumption will grow by 5.3 In the EIA forecast, global consumption of liquid fuels rises by an additional 3.7

2019 243

2019 Global Fuel Gasoline-Electric 243

Green Car Congress

JANUARY 23, 2019

Some level of DUCs is normal, but the ballooning number of uncompleted wells has repeatedly fueled speculation that a sudden rush of new supply might come if companies shift those wells into production. The latest crash in oil prices once again raises this prospect. production levels. DUCs may keep U.S.

Oil 236

Oil Oil Prices 2019 Price 236

Green Car Congress

JUNE 18, 2022

The IEA June 2022 Oil Market Report (OMR) forecasts world oil demand to reach 101.6 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 mb/d this year, world oil demand is forecast to expand by 2.2

Oil 210

Oil Global Libya Russia 210

Green Car Congress

MARCH 5, 2015

Those claiming that oil will continue to fall from here and remain low for evermore, however, are flying in the face of both history and common sense. The question we should be asking ourselves is not if oil prices will recover, but when they will. Supply alone, however, doesn’t determine price.

Oil Prices 150

Oil Prices Oil Price Saudi Arabia 150

Green Car Congress

JANUARY 19, 2022

The International Council on Clean Transportation (ICCT) has released a report prepared by the consultancy Cerulogy that explores the potential market and environmental impacts of increased capacity for renewable diesel produced by hydrotreating oils and fats in the US. —from the report, “Animal, vegetable or mineral (oil)?”.

Renewable 243

Renewable Diesel Production Oil 243

Green Car Congress

JANUARY 11, 2023

Despite efforts to continue stimulating the US economy in the wake of the pandemic, high inflation put a damper on economic growth, which was exacerbated by a spike in oil prices as a result of Russia’s invasion of Ukraine. Consequently, the US economy grew 1.9% in 2022, down from a 5.7% GDP increase in 2021. and 1.5%, respectively.

Emissions 273

Emissions Oil Prices 2005 Coal 273

Green Car Congress

SEPTEMBER 13, 2017

A number of factors are pushing Saudi Arabia to raise its crude-oil production capacity, but the wide range of potential outcomes suggests that such an increase is a risky strategy for the kingdom and the global environment, according to a new article by an expert from Rice University’s Baker Institute for Public Policy.

Saudi Arabia 150

Saudi Arabia Oil Production Climate 150

Green Car Congress

APRIL 23, 2018

Short-term oil demand is still growing strong and will continue to do so through the end of 2020 despite the market’s increasing focus on electric vehicles and the forecasted future plateau in oil demand, according to new analysis from IHS Markit, a global business information provider. Refined product demand growth has averaged 1.2

Oil 276

Oil Global 2003 2007 276

Green Car Congress

MAY 18, 2018

April saw the US produce a record 10,543,000 barrels per day (MBD) of oil, according to data from the American Petroleum Institute. The first four months of this year also saw US petroleum demand average 750,000 barrels a day above the same period in 2017 despite higher prices. Domestic WTI crude oil prices averaged $66.25

2007 259

2007 Oil Prices Oil Production 259

Green Car Congress

JULY 6, 2018

When reports emerged that India and China are in talks about forming an oil buyers’ club , OPEC was probably too busy with its upcoming June 22 meeting to concern itself with that dangerous alliance. What’s more, they might not be alone in this attempt to curb OPEC’s clout on the global oil market. The timing is right. The boom in U.S.

Oil 170

Oil India Oil Prices Japan 170

Green Car Congress

MAY 24, 2022

On 16 May 2022, the average US on-highway retail diesel fuel price was $5.61 Although retail diesel prices have increased across the entire United States, prices in the Northeast have increased the most and are now among the highest in the country. gal, according to EIA’s Gasoline and Diesel Fuel Update.

Diesel 259

Diesel Price California Philadelphia 259

Green Car Congress

JULY 6, 2018

When reports emerged that India and China are in talks about forming an oil buyers’ club , OPEC was probably too busy with its upcoming June 22 meeting to concern itself with that dangerous alliance. What’s more, they might not be alone in this attempt to curb OPEC’s clout on the global oil market. The timing is right. The boom in U.S.

Oil 150

Oil India Oil Prices Japan 150

Green Car Congress

AUGUST 20, 2019

The increase in demand came as the US continued to sustain world-leading production, which continues to meet virtually all global oil demand growth. compared with July 2018, even as gasoline prices were 3.6% Jet fuel demand for the month of July reached a new record of 1.8 mb/d, its strongest level since 2007.

2005 207

2005 Fuel 2018 Oil 207

Green Car Congress

OCTOBER 7, 2021

Liquid fuels remain the largest source of energy consumption, driven largely by the industrial and transportation sectors. Oil and natural gas production will continue to grow, mainly to support increasing energy consumption in developing Asian economies.

Global 259

Global Energy Emissions Asia 259

Green Car Congress

MARCH 13, 2016

Argentina offers one of the few places on earth where oil companies are not suffering from the full force of the collapse in prices. Argentina regulates oil prices, a policy originally intended to insulate the public from the whims of the market, protecting people from triple-digit crude prices.

Argentina 150

Argentina Oil Oil Prices Chevron 150

Green Car Congress

DECEMBER 16, 2013

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. This is, however, less than the 13% share projected in AEO2013 because of the lower prices of competing fuels in AEO2014. per year, from 21.5

Oil 290

Oil Light Energy Vehicles 290

Green Car Congress

JUNE 1, 2016

Total global oil production could decline for the next several years in a row as scarce new sources of supply come online. According to data from Rystad Energy, overall global oil output will fall this year as natural depletion overwhelms all new sources of supply. The price acts as a self-correcting mechanism.

Oil 150

Oil Supplies Market Oil Prices 150

Green Car Congress

APRIL 7, 2021

The US Energy Information Administration (EIA) forecasts an increase in demand for petroleum products during the 2021 summer driving season as the impacts of COVID-19 diminish in the United States. EIA also forecasts the Brent crude oil price will average $64 per barrel this summer, a 78% increase from last summer’s average of $36 per barrel.

2019 186

2019 Fuel Coal 2020 186

Green Car Congress

MARCH 14, 2019

In 2019, multiple deployments of long-range battery EVs (BEVs) in crossover classes, as well as Tesla reaching full-scale production on the Model 3 and expanding its vehicle shipments to markets abroad, are setting the stage for continued market growth, Navigant says. —Scott Shepard, senior research analyst with Navigant Research.

Alternative Fuels 207

Alternative Fuels Future Plug-in Fuel 207

Green Car Congress

SEPTEMBER 20, 2011

Unconventional liquids become increasingly important in the total supply of liquid fuels, according to IEO2011. World oil prices remain high in the IEO2011 Reference case, but oil consumption continues to grow; both conventional and unconventional liquid supplies are used to meet rising demand. Click to enlarge.

Oil-Sands 220

Oil-Sands Oil 2008 Oil Prices 220

Green Car Congress

FEBRUARY 2, 2015

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. Lux on the price of oil.

Plug-in 150

Plug-in Oil Cheap Plug 150

Green Car Congress

APRIL 13, 2012

The ratio between the spot prices of crude oil and natural gas has been generally increasing since January 2009, but it has climbed rapidly in recent months, according to data from the US Energy Information Administration (EIA). The crude oil-to-natural gas spot price ratio has implications for production and consumption.

Oil 255

Oil Gas Price Oil Prices 255

Green Car Congress

JUNE 13, 2012

Oil remains the world’s leading fuel, but its 33.1% The averages hide a mixed picture by fuel, however. Oil demand grew by less than 1%—the slowest rate amongst fossil fuels—while gas grew by 2.2%, and coal was the only fossil fuel with above average annual consumption growth at 5.4% Source: BP.

Coal 261

Coal Oil Renewable Saudi Arabia 261

Green Car Congress

DECEMBER 13, 2017

GE Aviation has begun jet engine combustor component testing with 100% Gevo renewable alcohol-to-jet fuel (ATJ). Specifically, this testing is designed to enable the greater displacement of petroleum-based jet fuel by bio-based alternative products. Earlier post.).

Fuel 170

Fuel Oil Prices Oil Emissions 170

Green Car Congress

JULY 25, 2013

World energy consumption by fuel type, 2010-2040. However, fossil fuels continue to supply nearly 80% of world energy use through 2040. Natural gas is the fastest-growing fossil fuel, as global supplies of tight gas, shale gas, and coalbed methane increase. Liquid fuels. Source: IEO2013. Click to enlarge.

2010 317

2010 Transportation Fuel Energy 317

Green Car Congress

APRIL 11, 2017

In its latest Short-Term Energy Outlook (STEO), the US Energy Information Administration (EIA) projects that US crude oil production, which averaged an estimated 8.9 increase in fleet-wide vehicle fuel efficiency. EIA also projects that consumption of distillate fuel—diesel fuel and heating oil—will average 3.9

Gasoline 150

Gasoline Gasoline-Electric Production Oil 150

Green Car Congress

DECEMBER 8, 2020

US motorists stayed off the road during the Thanksgiving holiday in overwhelming numbers as the coronavirus surged across the country, according to the latest weekly survey of retail fuel stations by OPIS, an IHS Markit company. A persistent rebound in global oil markets requires profitability in transportation products.

Gasoline 321

Gasoline 2020 Wyoming New Jersey 321

Green Car Congress

JULY 18, 2020

The researchers conclude that their results imply that government intervention does impact the infection rate, which thereby impacts mobility and fuel demand. However, few studies have quantified and forecast the oil demands under multiple pandemic scenarios, and this research is desperately needed.

Gasoline 505

Gasoline Motor Motors Motoring 505