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EIA expects increased US crude oil production, with continued high petroleum prices in 2022

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Despite the increases in production, EIA expects the Brent crude oil price to remain above $100 per barrel this year, according to the agency’s May 2022 Short-Term Energy Outlook (STEO). EIA forecasts that retail sales of electricity to the industrial sector will grow by 2.8% The Henry Hub natural gas price will average $8.59

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EIA projects increases in global energy consumption and emissions through 2050

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Liquid fuels remain the largest source of energy consumption, driven largely by the industrial and transportation sectors. Oil and natural gas production will continue to grow, mainly to support increasing energy consumption in developing Asian economies.

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

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Following nearly two years of declines, observed global oil inventories increased by 77 mb in April. OECD industry stocks also rose, by 42.5 At 2,669 mb, OECD industry stocks were nevertheless 290.3 Higher oil prices and a weaker economic outlook continue to temper IEA’s oil demand growth expectations.

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EIA: world energy consumption to grow 56% 2010-2040, CO2 up 46%; use of liquid fuels in transportation up 38%

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With prices expected to increase in the long term, however, the world oil price in real 2011 dollars reaches $106 per barrel in 2020 and $163 per barrel in 2040, according to IEO2013. In the Reference case, all the growth in liquids use is in the transportation and industrial sectors. trillion kilowatthours in 2010 to 5.5

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Why Wall Street is throwing billions at the Permian

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The collapse of oil prices has ground shale drilling to a halt, but the one region where drilling is still active, and even increasing, is in West Texas. Discussing his company’s plans for the region, Concho’s CEO Tim Leach said that the Permian has some of “the hottest zip codes in the industry.” As Bloomberg noted in an Aug.

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Eni report: global oil reserves and oil production up in 2018 due to US

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The first volume of the report, the World Oil Review, is devoted to oil reserves, supply, demand, trade and prices with a special focus on crude oil quality and on refining industry. In 2018, global oil reserves rose slightly (+0.4%), mainly due to growth in the US. recorded in 2013-2017.

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IRENA report finds renewable power costs at parity or below fossil fuels in many parts of world

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The report, “ Renewable Power Generation Costs in 2014 ”, concludes that biomass, hydropower, geothermal and onshore wind are all competitive with or cheaper than coal, oil and gas-fired power stations, even without financial support and despite falling oil prices. Report highlights include: Cape Wind’s troubles.

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