article thumbnail

IEA forecasts global oil demand to reach 101.6 mb/d in 2023; non-OECD countries lead expansion

Green Car Congress

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 Assuming Libya rebounds from a steep drop, the bloc’s production could increase 2.6 Global refining capacity is set to expand by 1 mb/d in 2022 and 1.6

Oil 210
article thumbnail

bp Statistical Review shows 4.5% drop in primary energy consumption in 2020; mainly driven by oil

Green Car Congress

The Review captures the significant impact the global pandemic had on energy markets and how it may shape future global energy trends. Natural gas prices declined to multi-year lows; however, the share of gas in primary energy continued to rise, reaching a record high of 24.7%. The oil price (Dated Brent) averaged $41.84/bbl

2020 397
article thumbnail

The 5 Countries That Could Push Oil Prices Up

Green Car Congress

Oil prices appear to be stuck in the $50s per barrel, but that doesn’t mean there aren’t serious supply risks to the market. An unexpected disruption could occur at any moment, as has happened in the past, leading to a sudden and sharp jump in prices. mb/d, meaning Libya won't be able to bring output back to pre-war levels of 1.6

article thumbnail

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

Green Car Congress

Biden said that his administration would restock the reserve when prices are lower. million barrels over a 45-day period to calm the global oil market in the immediate aftermath of the beginning of the Iraq war. Biden called the latest release a “wartime bridge” to increase oil supply until domestic production ramps up later this year.

Oil 418
article thumbnail

Nissan to test African demand for its e-Power hybrid vehicle – ET Auto

Baua Electric

This year Nissan will export the South African built Navara pickup trucks to new markets of Algeria, Libya, Sudan, Tunisia and Egypt, Nissan Africa product Marketing Director Stefan Haasbroek said. According to Nissan, elsewhere in the world the global motorization average is 182 vehicles per 1,000 people versus 42 per 1,000 in Africa.

Tunisia 52
article thumbnail

BP Statistical Review finds global oil share down for 12th year in a row, coal share up to highest level since 1969; renewables at 2%

Green Car Congress

Global energy consumption grew by 2.5% globally, and 8.4% These shocks pushed energy prices higher in much of the world, with oil prices reaching a record annual average of more than $100 per barrel (bbl) for the first time. of global energy use, losing share for 12 consecutive years. Coal’s market share of 30.3%

Coal 261
article thumbnail

Global CO2 emissions up 3% in 2011; per capita CO2 emissions in China reach EU levels

Green Car Congress

Global emissions of CO 2 increased by 3% last year, according to the annual report “Trends in global CO 2 emissions”, released by the EC Joint Research Centre (JRC) and the Netherlands Environmental Assessment Agency (PBL). At 3%, the 2011 increase in global CO 2 emissions is above the past decade’s average annual increase of 2.7%.

2011 236