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

Green Car Congress

The US Energy Information Administration (EIA) forecasts that US crude oil production will average 11.9 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). million barrels per day set in 2019.

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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). Biden said that his administration would restock the reserve when prices are lower.

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Report suggests low-speed electric vehicles could affect Chinese demand for gasoline and disrupt oil prices worldwide

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Low-speed electric vehicles (LSEVs) could reduce China’s demand for gasoline and, in turn, impact global oil prices, according to a new issue brief by an expert in the Center for Energy Studies at Rice University’s Baker Institute for Public Policy. “

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Saudi Arabia And Iran Reignite The Oil Price War

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The rivalry between Saudi Arabia and Iran is becoming increasingly evident in the oil pricing policies of the two large Middle Eastern producers. The two countries are currently reigniting the market share and pricing war ahead of the returning U.S. sanctions on Iranian oil. sanctions on Tehran return in early November.

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Tesla’s production expansion, surging oil prices bring stock upgrade from Daiwa Securities

Teslarati

Tesla’s ( NASDAQ: TSLA ) plans to expand its production capacity, along with other factors like surging oil prices that could sway consumers to electric vehicles, have contributed to Daiwa Securities analysts upgrading their outlook on the automaker’s stock. Disclosure: Joey Klender is a TSLA Shareholder.

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Oil prices could double by 2020, boosting electric car sales

Green Car Reports

Despite short term peaks and valleys, and a recent agreement by OPEC to ease production restrictions, the overall trend in oil prices is on the rise.

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BNEF: electrolyzer sales more than doubled in 2021, set to grow 4-5x this year

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Electrolyzer sales have more than doubled to 458MW in 2021 and are set to grow 4-5x this year. Almost two-thirds of these sales will happen in China. Crucially, these include higher carbon prices in sectors where hydrogen could play a strong role, such as ammonia, methanol, oil refining, iron and steel.

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