Green Car Congress
NOVEMBER 10, 2021
The price of US benchmark West Texas Intermediate (WTI) crude oil is near its highest level since 2014, increasing rapidly from low prices in mid-2020 as demand returns faster than supply, according to the US Energy Information Administration (EIA). US crude oil inventories were 440.3 US crude oil production then fell to 9.7
Green Car Congress
JULY 31, 2023
Since the EU imposed sanctions on Russia in the wake of the invasion of Ukraine, there has been a redrawing of the global oil map, a new study by Transport & Environment (T&E) shows. Instead of cutting demand, Europe has simply replaced imports from Russia with oil from other producing countries. C carbon budget.
Green Car Congress
AUGUST 30, 2022
Aemetis announced that its Universal Biofuels subsidiary in India, owner and operator of a biodiesel plant located near the Port of Kakinada on India’s east coast, was selected by the three government-controlled oil marketing companies (OMCs) and a major oil refiner to supply approximately 8,000,000 gallons of biodiesel over the next two months.
Green Car Congress
AUGUST 21, 2021
MPC) and ADM announced an agreement to form a joint venture for the production of soybean oil to supply rapidly growing demand for renewable diesel fuel. When complete in 2023, the Spiritwood facility will source and process local soybeans and supply the resulting soybean oil exclusively to MPC.
Green Car Congress
JUNE 16, 2021
In the June Short-Term Energy Outlook (STEO), the US Energy Information Administration (EIA) forecasts that rising global production of petroleum and other liquid fuels (driven by OPEC, Russia, and the United States) will limit price increases for global crude oil benchmarks Brent and West Texas Intermediate (WTI). million b/d in 2022.
Green Car Congress
APRIL 1, 2022
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). million barrels of sweet and 200,000 barrels of sour crude oil. President George W.
Green Car Congress
JANUARY 13, 2022
Global oil consumption outpaced oil production for the six consecutive quarters ending with the fourth quarter of 2021 (4Q21), which has led to persistent withdrawals from global oil inventories and significant increases in crude oil prices.
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