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IEA: record oil output from US, Brazil, Canada and Norway to keep global markets well supplied

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Oil production growth from the United States, Brazil, Canada and Norway can keep the world well supplied, more than meeting global oil demand growth through 2020, but more investment will be needed to boost output after that, according to the International Energy Agency’s latest annual report on oil markets. mb/d by 2023 to 104.7

Brazil 218
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President Biden calls on Congress, States for fuel tax holiday; increase in refinery capacity

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President Biden called on Congress to suspend the federal gas tax for the next 90 days, through the busy summer driving season—18 cents per gallon for gasoline and 24 cents per gallon for diesel. Refined products from crude are globally traded commodities, priced in a competitive global market.

Congress 259
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BNEF: net-zero road transport by 2050 still possible, but big push needed

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The road transport sector could still reach net-zero emissions by 2050 through electrification, but urgent action would be required from policymakers and industry participants, according to research company BloombergNEF’s (BNEF) latest annual Long-Term Electric Vehicle Outlook (EVO). million sold in 2021 to 21 million in 2025.

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Calls for an international 48V electrical standard for vehicles; looming WLTP implementation

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At the 2 nd International Conference Automotive 48 V Power Supply Systems , held last week in Düsseldorf, Germany, Controlled Power Technologies (CPT), a major sponsor of the event, together with leading car makers and Tier 1 suppliers, argued the need for an internationally agreed 48V electrical standard.

Standards 257
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Bosch and Weichai Power boost efficiency of Weichai truck diesel engines from 46% to 50%

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Because it guarantees efficient fuel supply and injection, it is a critical element in ensuring the engine complies with the China VI emissions standard. Over the 17 years since, both companies have pooled their strengths and expertise in multiple endeavors, one of which was supplying the Chinese market with diesel engines.

Diesel 418
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IEA: carbon intensity of global energy supply has barely changed in last 20 years; “window of opportunity in transport”

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In a fairly bleak assessment of global progress towards low-carbon energy, the International Energy Agency (IEA) concluded that, despite a few bright spots such as the rapid expansion of renewable technologies and the growth of hybrid and EV sales, the progress is far below that required to achieve a 2 °C pathway—i.e., Source: IEA.

Carbon 265
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IHS Markit projects for first time that 2050 global refined product demand will be lower than 2019 levels

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For the first time, the IHS Markit base case scenario for refined products expects total global demand in 2050 to be lower than 2019 levels. Under the new IHS Markit Inflections base case scenario, global refined product demand is expected to peak in 2036. This shift is already being reflected in supply-side investment.

2019 170