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The demand for oil in 2015 will drop to its lowest level since 2002 because of an oversupply of crude and stagnant economies in China and Europe, according to OPEC’s latest forecast. OPEC’s monthly report said demand for the cartel’s oil will fall to 28.9 OPEC’s monthly report said demand for the cartel’s oil will fall to 28.9
China processed record amounts of crude oil in 2021 to meet rising domestic consumption of petroleum products, according to analysis by the US Energy Information Administration (EIA). China’s crude oil processing has also declined because relatively high crude oilprices are making importing crude oil more expensive.
The average US household will spend about $550 less on gasoline in 2015 compared with 2014, as annual motor fuel expenditures are on track to fall to their lowest level in 11 years, according to projections by the US Energy Information Administration (EIA). Gasolineprices are forecast to go even lower in 2015.
US regular retail gasolineprices averaged $2.72 However, a rapid price decline beginning in October led to US average regular gasolineprices ending the year lower than they began for the first time since 2015, according to the US Energy Information Administration (EIA). gal at least once in 2018.
US regular retail gasolineprices averaged $2.41 per gallon in 2017, 27 cents/gal (13%) higher than in 2016, but two cents/gal less than in 2015, according to the US Energy Information Administration (EIA). Higher crude oilprices in 2017 contributed to higher gasolineprices.
Lest we be too quick to forget whence we came, America is now 9-months into lower gasolineprices, which started their swoon the week of June 30, 2015 from a lofty national average just under $3.70, tumbling almost every subsequent week before bottoming and bouncing from $2.02 by Thomas Miller for Oilprice.com.
Lower crude oilprices and strong demand for petroleum products, primarily gasoline, both in the United States and globally, have led to favorable margins that encourage refinery investment and high refinery runs. Since May 20, Gulf Coast gasoline crack spreads have averaged 17 cents/gal higher than for distillate crack spreads.
For summer 2017, EIA forecasts motor gasoline consumption to average 9.5 EIA expects that domestic refinery production, including gasoline blendstock output, will be about 20,000 b/d lower this summer than last summer. of total gasoline consumption. For all of 2017, the forecast average price for regular gasoline is $2.39/gal,
Derive GHG emissions and costs of charging of EVs in the 2015 Dutch context and. Focus, Renault Megane, Toyota Corolla and Opel Astra—in their analysis, and compared EV configurations to a regular gasoline car, diesel car, parallel hybrid car and series HEV (SHEV). They assumed an oilprice of US$80/bbl, close to the short-term.
million vehicles in 2015 to 3.9 between 2015 and 2025. However, the collapse in global oilprices has eroded a significant portion of the natural gas cost advantage. In its new Natural Gas Vehicles report, Navigant Research forecasts that global annual NGV sales—light-, medium- and heavy-duty—will grow 62.5%
A new study sponsored by Indiana University concludes that President Obama’s vision of one million plug-in electric vehicles (PEVs) on US roads by 2015 will require concentrated efforts action from all stakeholders— the auto industry, federal government, the scientific community, and consumers—to be realized.
the global gasoline market will reach an estimated 375 billion gallons per year (BGPY) in 2021, while demand for diesel in ground transportation markets will reach at least 427 BGPY. Key trends identified in the report include: Oilprices are expected to climb over the next decade, driving increased interest in.
Despite brash statements by US producers and misleading analysis by Raymond James, low oilprices are killing tight oil companies. Reports this week from IEA and EIA paint a bleak picture for oilprices as the world production surplus continues. percent in August 2015. strong>Figure 3. Click to enlarge.
The Annual Energy Outlook 2015 (AEO2015) released today by the US Energy Information Administration (EIA) projects that US energy imports and exports will come into balance—a first since the 1950s—because of continued oil and natural gas production growth and slow growth in energy demand. With greater U.S.
Transportation sector gasoline demand declines. Continued fuel economy improvement in vehicles using other alternative fuels, gasoline, and diesel, combined with growth in the use of hybrid technologies (including micro, mild, full, and plug-in hybrid vehicles), limit the use of electric vehicles over the projection. Click to enlarge.
As the assumed annual growth rates for forecast liquid fuels consumption have remained unchanged for 2015-18, the higher baseline 2014 data raises overall consumption through the forecast period. Methanol or its derivative products can be added to fuels such as gasoline and liquefied petroleum gases (LPG).
Based on what we know today ,” said Kissel, “ we believe that the cost of the fuel will be comparable to gasoline on a per mile driven basis. The Gas Company currently produces synthetic natural gas from naptha and hydrogen, will plans to include plant oils and animal fats as feedstocks in the future. TGC H 2 Production. Earlier post.)
This would be almost 90 times the equivalent figure for 2015, when EV sales are estimated to have been 462,000, some 60% up on 2014. The research estimates that the growth of EVs will mean they represent a quarter of the cars on the road by that date, displacing 13 million barrels per day of crude oil but using 1,900 TWh of electricity.
between 2017 and 2021, as a combination of higher oilprices, emerging mandate. Pike Research estimates that the global gasoline market will reach an estimated 375 billion gallons per year (BGPY) in 2021. Cellulosic biofuels progress likely to disappoint through 2015/2016, leading to the further.
The undisputed king of oil and gas is making some moves that could change the face of the global refining sector. In June 2015, Saudi Arabia pumped a record 10.564 million barrels a day, a record level. We see refining margins weakening on worsening diesel fundamentals, particularly east of Suez, though gasoline should be supportive.
As one example of factors contributing to that decision, a survey of projected oilprices returned values between $30 and $250 a barrel, he said.). By 2015, he suggests, full hybrids (e.g., Anderman ran a series of net present value analyses based on a range of gasolineprices, fuel saved, and pack costs.
Winterkorn also emphasized that Volkswagen remains committed to its environmental goals, and noted that the present low level of oilprices would not change that. Oil will not be as cheap as it is at the moment for ever. The CO 2 limits apply irrespective of fuel prices. —Martin Winterkorn.
The low oilprices that boosted new-car sales and caused average fuel-economy gains to sputter last year may be here to stay, for a while at least. With fuel prices low throughout 2015, Americans bought more new cars, but many of them were less-efficient SUVs and crossovers.
Transport will also deliver tank-to-wheel emissions savings of 191 Mt CO 2 e between 2015 and 2030 to reduce the total well-to-wheel GHG emission in 2030 to 862 Mt CO 2 e. The well-to wheel-emission savings represent a 23% reduction in tank-to-wheel emissions and a 22% reduction in well-to-tank emissions.
” Their analysis is in the context of the “ surprising [oil] demand strength of 2010 “; 2010 saw absolute incremental demand at around 2.2mb/d of growth—the second highest in 30 years, despite oilprices in the $90/bbl region. gallon gasoline. Click to enlarge.
IHS Automotive forecasts global automotive sales for 2015 to reach 88.6 For the APAC region in 2015, IHS forecasts that China’s economic growth will decelerate further, to 6.5% However, IHS Automotive analysts still expect light vehicle sales in China to grow by 7% in 2015 to 25.2 million, an increase of 2.4% North America.
Under the central New Policies Scenario, automotive sales in non-OECD markets exceed those in the OECD by 2020, with the center of gravity of car manufacturing shifting to non-OECD countries before 2015. Short-term pressures on oil markets are easing with the economic slowdown and the expected return of Libyan supply. Click to enlarge.
domestic demand is about 9 million barrels a day, about a half a million below expectations for peak summer months, but the country is exporting a lot of gasoline, he added. In July, for example, Saudi Arabia starting reducing how much oil it sends to the global economy by 1 million barrels each day. Today’s U.S.
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