Remove Economy Remove Oil Prices Remove Qatar
article thumbnail

Oil price tumbles after OPEC releases 2015 forecast

Green Car Congress

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 In fact this year’s price plunge hasn’t hurt just the weaker OPEC members.

article thumbnail

IHS Markit: US poised to be world’s largest LNG exporter in 2022 as China becomes top LNG importer

Green Car Congress

The world’s two largest economies—the United States and China—are poised to be the world’s top export and import markets for liquefied natural gas (LNG), respectively, in 2022, according to a new report by IHS Markit. MMt), followed by Qatar at 81.3 Total loaded LNG supply in 2021 reached 396.3 MMt, up 5.5% increase or 1.6

Qatar 186
article thumbnail

BP Statistical Review finds global oil share down for 12th year in a row, coal share up to highest level since 1969; renewables at 2%

Green Car Congress

Emerging economies accounted for all of the net growth, with OECD demand falling for the third time in the last four years, led by a sharp decline in Japan. in the emerging economies. Brent oil prices were on average 40% higher than 2010 and exceeded $100 a barrel for the first time ever; at $111.26/bbl,

Coal 261
article thumbnail

Opinion: Saudi Oil Strategy: Brilliant Or Suicide?

Green Car Congress

In the last quarter of 2014, in the face of possible oversupply, Saudi Arabia abandoned its traditional role as the global oil market’s swing producer and therefore it role as unofficial guarantor of existing ($100+ per barrel) prices. Prices rebounded to $60 for a few months, before falling once again below $50.

article thumbnail

Opinion: OPEC Divorce And Self-Destruction Thanks To Saudi Oil Strategy?

Green Car Congress

If you are the world’s leading energy economy, you produce energy, that’s what you do.”. “A If You’re a Free Range Oil Producer. Despite low oil prices, Saudi Arabia is maintaining its investment in its oil industry. as the drop in oil prices over the last year has put a strain on the nation’s finances.".

Oil 150
article thumbnail

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. They pose an existential threat to the industry and therefore to the Russian economy: The revenues Russia can earn from its crude and natural gas exports face intense pressure. Natural gas data from Gazprom). The emergence of the U.S.,

Russia 150
article thumbnail

Opinion: Saudis Could Face An Open Revolt At Next OPEC Meeting

Green Car Congress

OPEC next gathers December 4 in Vienna, just over a year since Saudi Oil Minister Ali Al-Naimi announced at the previous OPEC winter meeting the Saudi decision to let the oil market determine oil prices rather than to continue Saudi Arabia's role of guarantor of $100+/bbl oil. billion) and $1 billion ($2.5