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EVs are avoiding about 3% of global oil demand—a fifth of Russia's total exports

Green Car Reports

Russia's ongoing invasion of Ukraine has triggered international sanctions throttling the country's oil exports, leading to fears of every higher gas prices. million barrels of oil per day last year, according to new analysis from. But electric vehicle adoption has been helping make the situation less grim.

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IEA issues 10-point plan to cut oil use

Green Car Congress

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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IEA forecasts world oil demand to hit record 101.9 million b/d in 2023; non-OECD to account for 90% of growth

Green Car Congress

In its April Oil Market Report , the International Energy Agency (IEA) forecasts that world oil demand will climb by 2 mb/d in 2023 to a record 101.9 Extra cuts by OPEC+ will push world oil supply down 400 kb/d by end of 2023. For the year as a whole, global oil production growth slows to 1.2 mb/d versus 4.6

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Opinion: Oil Market ShowdownCan Russia Outlast The Saudis?

Green Car Congress

November 27, oil consuming countries will celebrate the first anniversary of the Saudi decision to let market forces determine prices. Both, it would seem, have incentive to do so, as each has lost over $100 billion in crude revenues in 2015—and Russia bears the extra burden of U.S. by Dalan McEndree for Oilprice.com. and $65.65

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IHS Markit: 10 MMb/d of oil production cuts coming

Green Car Congress

IHS Markit Crude Oil Markets service expects up to 10 MMb/d of world oil production will be cut or shut-in from April to June 2020 as oil storage fills up and output from financially strapped companies begins to fall. If oil cannot be sold or stored, it cannot be produced. Something has to give. And it will.

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Skolkovo Foundation greenlights £9.3M international consortium to make oil refining in Russia more efficient and sustainable

Green Car Congress

Researchers at the Center will run the UNIHEAT project, which will focus on increasing energy efficiency and reducing heat loss in oil refining by up to 15% by improving refining operations, enhancing oil production processes, and reducing CO? The Center will be funded by the Skolkovo Foundation and BP Russia.

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Opinion: Is Russia Plotting To Bring Down OPEC?

Green Car Congress

Energy is the foundation of Russia, its economy, its government, and its political system. Even a casual glance at the IMF’s World Economic Outlook statistics for Russia shows the tight correlation since 1992 between GDP growth on the one hand and oil and gas output, exports, and prices on the other (economic series available here ).

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