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EIA expects record global petroleum consumption in 2024, with lower crude oil prices

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EIA also expects oil production in Canada, Brazil, and Norway collectively to grow 12% from 2022 to 2024, and also expects growth from new sources such as Guyana. The share of renewable energy as a source for electricity generation in the United States continues to increase, reaching 26% of total generation in 2024.

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ExxonMobil seeking to boost growth, continue work on lower-emissions technologies including biofuels and carbon capture

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In Guyana, ExxonMobil recently announced the 13 th discovery on the Stabroek block, adding to the previously estimated 5.5 Guyana’s first oil production is on track for early next year, five years after discovery. billion barrels of discovered recoverable resource.