Remove 2007 Remove Oil Prices Remove Price
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BNEF: Oil price plunge to have only moderate impact on low-carbon electricity development, but likely to slow EV growth

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The collapse in world oil prices in the second half of 2014 will have only a moderate impact on the fast-developing low-carbon transition in the world electricity system, according to research firm Bloomberg New Energy Finance. However, the slump in the Brent crude price per barrel from $112.36 on 30 June to $61.60

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API reports record US petroleum production in April: 10.543 million b/d; strongest April demand since 2007

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The first four months of this year also saw US petroleum demand average 750,000 barrels a day above the same period in 2017 despite higher prices. This was the strongest April monthly demand since 2007. Strong global demand raised international oil prices by more than domestic ones. from March but 3.8% above April 2017.

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EIA: US summer gasoline demand expected to be at 11-year low, prices at record high

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US gasoline demand this summer is expected to be the lowest in 11 years, while the average summer fuel price is forecast to be at a record level, according to the US Energy Information Administration (EIA). less than 2007’s record summer gasoline demand of 9.4 US gasoline consumption is forecast to average almost 8.8

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IHS Markit: global oil demand still growing in the short term despite increasing focus on EVs

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Current global total liquids oil demand growth is at similar levels to what was recorded during the 2003 to 2007 commodity super-cycle, referred to as the “golden age” of refining. At present, current global total liquids oil demand is approximately 100 million barrels per day, the report says. —Spencer Welch.

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The Real Reason for USA based Economic Recessions.

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There have been 5 recession since then until now and I wanted to see if Oil had anything to do with them, because deep in my heart, I knew the most recent recession was directly caused by the oil price spikes that started in 2007 and peaked in 2008. For more information about the concept of Peak Oil please visit [link].

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US Vehicle Miles Traveled Increased 2% in June Year-on-Year

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US traffic volumes started declining in November 2007 as oil prices rose and experienced dramatic drops in 2008. While traffic volumes have shown some year-over-year gains earlier this year, June marks the first month when driving was higher in all regions of the United States and on all types of roads.

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Perspective: US Needs to Transition to Hydrous Ethanol as the Primary Renewable Transportation Fuel

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The oil price shocks of the 1970s led the Brazilian government to address the strain high prices were placing on its fragile economy. Brazil, the largest and most populous country in South America, was importing 80% of its oil and 40% of its foreign exchange was used to pay for that imported oil.