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Study finds carbon emissions benefits of reduction in oil demand depend on size of drop and global oil market structure

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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.

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IEA: global oil demand to decline in 2020 as coronavirus weighs on markets

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Global oil demand is expected to decline in 2020 as the impact of the new coronavirus (COVID-19) spreads around the world, constricting travel and broader economic activity, according to the International Energy Agency’s (IEA’s) latest oil market forecast. The IEA now sees global oil demand at 99.9

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The SUV market is fueling global oil demand, clouding CO2 targets

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A strong SUV market is leading to higher oil demand today, and may make future carbon dioxide (CO2) emissions targets harder to achieve, according to the International Energy Agency (IEA). New IEA analysis found that global CO2 emissions from SUVs reached nearly 1.1 SUVs are.

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Biden authorizes release of more than 180M barrels of oil from Strategic Petroleum Reserve; 1M bpd for 6 months

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In an effort to address the rapidly increasing cost of gasoline, President Biden authorized the release of 1 million barrels of oil per day for the next six months—more than 180 million barrels—from the Strategic Petroleum Reserve (SPR). million barrels of sweet and 200,000 barrels of sour crude oil. President George W.

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EIA: International demand will drive US production of petroleum and other liquids through 2050

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Strong continuing international demand for petroleum and other liquids will sustain US production above 2022 levels through 2050, according to most of the cases in the US Energy Information Administration’s (EIA’s) Annual Energy Outlook 2023 (AEO2023). Eventually this trend becomes unprofitable, at which point new drilling stops.

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EIA: US crude oil exports reached record levels in 2020 and remain high in 2021

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Despite volatility in global oil markets, US crude oil exports reached a record high in 2020, according to the US Energy Information Administration (EIA). As of 9 July 2021, US crude oil exports have averaged 3.00 The most recent four-week rolling average of US crude oil exports reached 3.51

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IEA issues 10-point plan to cut oil use

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In the face of the emerging global energy crisis triggered by Russia’s invasion of Ukraine and the countervailing barrage of economic sanctions, the International Energy Agency (IEA) is proposing a 10-Point Plan to Cut Oil Use. IEA claims that its plan would lower oil demand by 2.7 Ban private cars in cities on Sunday.

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