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EIA: At least 9 new refinery projects to come online before end of 2023 in Asia and Middle East; 2.9 MMb/d

Green Car Congress

The new refinery projects would increase production of refined products, such as gasoline and diesel, and in turn, they might reduce the current high prices for these products. Net global capacity declined in 2021 for the first time in 30 years, according to the IEA.

Asia 418
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EIA: New refineries will increase global refining capacity in 2022 and 2023; China leads

Green Car Congress

Global demand for refined products dropped substantially in 2020 as a result of the COVID-19 pandemic. Less petroleum demand and the associated lower petroleum product prices encouraged refinery closures, reducing global refining capacity, particularly in the United States, Europe, and Japan.

Global 448
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Oil price tumbles after OPEC releases 2015 forecast

Green Car Congress

27, OPEC refused to lower its production levels below 30 million barrels a day, adding to the oil glut that started with the US boom in high-quality shale oil. As a result, the price of Brent crude has plunged more than 40 percent since June. You start to price that in now.”. And yet on Nov. million barrels to 377.4

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Baker Institute: End of the ‘Big Oil giveaway’ is underway in the Persian Gulf

Green Car Congress

In recent years, all six Gulf monarchies—Saudi Arabia, the United Arab Emirates (UAE), Kuwait, Oman, Qatar and Bahrain—have begun to challenge the notion that citizens are entitled to cheap energy. Policymakers hope higher energy prices can produce a number of helpful effects, the authors said.

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Junkyard Find: 1992 Geo Metro 4-door hatchback

The Truth About Cars

If we're talking about realistic Metro competitors here, the base 1992 Ford Festiva actually managed to undercut the price tag on the cheapest possible Metro two-door hatchback that year: $6,911 versus $6,999. liters of gasoline on the Canadian highway. You could buy versions of this car all the way through 2017 in Pakistan.

Suzuki 98