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Despite volatility in globaloil markets, US crude oil exports reached a record high in 2020, according to the US Energy Information Administration (EIA). As of 9 July 2021, US crude oil exports have averaged 3.00 The most recent four-week rolling average of US crude oil exports reached 3.51
As oilprices remain unsteady and OPEC continues to make headlines every hour, the world is focused on oil’s immediate future. shale production will continue to grow along with global demand. shale production will continue to grow along with global demand. by Haley Zaremba for Oilprice.com.
Global production of biofuels increased 17% in 2010 to reach an all-time high of 105 billion liters (28 billion gallons US), up from 90 billion liters (24 billion gallons US) in 2009. of all global fuel for road transportation—an increase from 2% in 2009, according to the report. World ethanol and biodiesel production, 1975-2010.
Profound shifts in the regional distribution of oil demand and supply growth will redefine the refining industry and transform globaloil trade over the next five years, according to the annual Medium-Term Oil Market Report (MTOMR) released by the International Energy Agency (IEA).
In a new report, Electric Vehicle Market Forecasts , Navigant research projects that under its base scenario, global sales of light duty electrified vehicles (i.e., These include the dive in oilprices that began in mid-2014, as well as the phasing out of some local government purchase incentives. million in 2024.
IHS Automotive forecasts global automotive sales for 2015 to reach 88.6 However, IHS Automotive analysts still expect light vehicle sales in China to grow by 7% in 2015 to 25.2 —Lin Huaibin, manager, China light vehicle sales forecast, IHS Automotive. The IHS Automotive US light vehicle sales forecast for 2015 is 16.9
The impact of rising oilprices on North American light tight oil (LTO) production is said to be a “Catch 22”, the title of Joseph Heller’s popular 1961 novel set in WWII. Too many analysts continue to believe drilling and service has the same problem with rising oilprices. by David Yager for Oilprice.com.
The Center for Automotive Research’s (CAR’s) updated automotive sales outlook forecasts US light-duty vehicle sales at 16.8 US Light Vehicle Sales, 2015-2018, and CAR’s Forecast, 2019-2025. US Light Vehicle Sales, 2015-2018, and CAR’s Forecast, 2019-2025. million units for 2019. million units in 2021.
In a new report, Navigant Research forecasts that total annual globallight-duty start-stop vehicle (SSVs) sales will reach 59 million, accounting for 55% of all light duty vehicle sales.
Strong global demand raised international oilprices by more than domestic ones. Domestic WTI crude oilprices averaged $66.25 Meanwhile, international Brent crude oilprices continued to increase by more—8.5 per barrel, which reinforces global economic and oil demand strength.
By 2030, oil demand could hit a peak and then enter decline, according to a new report. For the next decade or so, oil demand should continue to grow, although at a slower and slower rate. According to Bank of America Merrill Lynch, the annual increase in globaloil consumption slows dramatically in the years ahead.
The first volume of the report, the World Oil Review, is devoted to oil reserves, supply, demand, trade and prices with a special focus on crude oil quality and on refining industry. In 2018, globaloil reserves rose slightly (+0.4%), mainly due to growth in the US. also rose in Brazil and Norway.
As for OPEC+, total oil output in 2023 may fall as embargoes and sanctions shut in Russian volumes and producers outside the Middle East suffer further declines. Global refining capacity is set to expand by 1 mb/d in 2022 and 1.6 Following nearly two years of declines, observed globaloil inventories increased by 77 mb in April.
By 2030, annual PEV sales are estimated to be between 15% and 32% of the globallight duty vehicle market, producing a global PEV population between 107 million and 190 million.
However, the report advises, long-term solutions to global challenges remain scarce; as one example, the report sees global CO 2 emissions rising by 20% to 37.2 The shift in global energy demand to Asia gathers speed, but India and countries in Southeast Asia will take the lead in driving consumption higher. Gt by 2035.
In its new Natural Gas Vehicles report, Navigant Research forecasts that global annual NGV sales—light-, medium- and heavy-duty—will grow 62.5% Navigant forecasts that the number of light-duty NGVs on the world’s roads will double by 2025 to 39.6 million vehicles in 2015 to 3.9 million in 2025. of all LDVs.
Further, according to the latest IHS Markit forecasts, the global auto industry will exerience an unprecedented and almost instant stalling of demand in 2020, with global auto sales forecast to plummet more than 12% from 2019 to 78.8 during the global recession in 2008/2009. million units.
A new study by Bloomberg New Energy Finance (BNEF) forecasts that sales of electric vehicles will hit 41 million by 2040, representing 35% of new light duty vehicle sales worldwide. This would be equivalent to nearly 8% of global electricity demand in 2015. At the core of this forecast is the work we have done on EV battery prices.
” 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. The DB auto team counts at least 130 models in the global pipeline for 2012.
A new study by the French institute Enerdata, commissioned by the European Federation for Transport & Environment (T&E), suggests that the European CO 2 standards for new vehicles due to come into effect in 2012 will lead not only to a European savings on oil (mainly via lower oil import volumes) but also to slightly lower globaloilprices.
The International Energy Agency (IEA) last week launched the 2011 edition of the World Energy Outlook (WEO), the current edition of its annual flagship publication assessing the threats and opportunities facing the global energy system out to 2035. While there is still time to act, the window of opportunity is closing. —WEO 2011.
With its headquarters in Vienna, Austria, one of the mandates of 12-member OPEC is to “ensure the stabilization of oil markets in order to secure an efficient, economic and regular supply of petroleum to consumers, a steady income to producers, and a fair return on capital for those investing in the petroleum industry.” Source: opec.org).
The transportation sector thus represents a significant fraction of total greenhouse gas (GHG) emissions both globally and in the US—light-duty vehicles (LDVs) are responsible for 17.5% Currently, petroleum almost exclusively fuels the United States (US) transportation system. of carbon dioxide (CO 2 ) emissions in the US.
Italy’s natural gas value chain in the transport sector is globally recognized for its technological and environmental excellence, and Italy is also able to leverage Europe’s largest, most accessible gas pipeline network, stretching over more than 32,000 km (20,000 miles). This will result in a direct benefit of €1.5 billion (US$1.7
Electric vehicles will make up the majority of new car sales worldwide by 2040, and account for 33% of all the light-duty vehicles on the road, according to a new forecast published by Bloomberg New Energy Finance (BNEF). We see a momentous inflection point for the global auto industry in the second half of the 2020s.
The Roadmap proposes completely transforming the US light-duty vehicle fleet into one in which grid-enabled mobility (grid-enabled vehicles, GEV) is the new conventional standard. By 2040, the report proposed, 75% of the light-duty vehicle miles traveled in the US should be electric miles. Global Demand for Oil.
travelled (high, medium and low), and vehicle type (passenger, light commercial, or taxi). The analysis is based on central forecasts of oilprice, electricity. price and carbon pollution reduction scheme (CPRS)/carbon tax policy, and known information about the historic drivers for consumers in the vehicle.
Further, the fossil fuel share of primary energy consumption falls from 82% in 2011 to 78% in 2040 as consumption of petroleum-based liquid fuels falls, largely because of the incorporation of new fuel efficiency standards for light-duty vehicles. Biofuels grow at a slower rate due to lower crude oilprices and. than in AEO2012.
Pacala and Socolow proposed a way to stabilize climate using existing greenhouse gas (GHG) mitigation technologies, visualized as interchangeable, global-scale ‘wedges’ of equivalent emissions reductions. of vehicle miles traveled—including almost all light duty. improvements in building shell, HVAC systems, lighting, and.
The DOE-QTR defines six key strategies: increase vehicle efficiency; electrification of the light duty fleet; deploy alternative fuels; increase building and industrial efficiency; modernize the electrical grid; and deploy clean electricity. DOE’s most significant role in transport research is here.
Instead it pursued a strategy of fighting for market share, contributing to an immediate rout in oilprices. OPEC is widely expected to continue its current strategy at its next meeting, and as such, no rebound in oilprices is expected, at least not because of the results of the group’s meeting in Vienna.
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. Much of the refinery output is reaching global markets, as net exports are 19% higher this year through May.
The current global economic downturn will dampen world energy demand in the near term, as manufacturing and consumer demand for goods and services slows. World oilprices have fallen sharply from their July 2008 high mark. The EIA notes that experience demonstrates that world oilprices can be extremely volatile.
AEO2015 presents updated projections for US energy markets through 2040 based on six cases (Reference, Low and High Economic Growth, Low and High OilPrice, and High Oil and Gas Resource) that reflect updated scenarios for future crude oilprices. trillion cubic feet (Tcf) in the Low OilPrice case to 13.1
It also updated the costs and sizes of electric and plug-in hybrid electric batteries and revised downward light-duty vehicle travel demand due to the adoption of a new estimation technique. Beyond 2020, CAFE standards for both passenger cars and light-duty trucks are held constant. Transportation projections.
“NEB and GNWT study finds 200 billion barrels of oil in the Sahtu,” gushed CBC News , referring to a region of the sprawling territory that cuts across three provinces and touches the Arctic Ocean. The two formations have more oil in place than any other shale deposit assessed by the NEB, including the Montney region and Duvernay field.
However, the new forecast represents a slowing of future oil sands production growth compared to the predictions of last year’s forecast. Conventional oil production continues to reverse its previous long decline because of the continuing use of horizontal and multi-fracturing drilling techniques. CAPP does not forecast oilprices.
The expected influx of large amounts of alcohol-based fuels and fuels derived from unconventional petroleum over the next decade may cause long-term world oilprices to be between 5 and 12% lower than they would be in the absence of those fuels. million bpd. Such a comparative analysis was not performed as part of this study.
Photocatalytic (visible light) cylcoadditions would increase energy density upon cyclization by at least 100 kJ/mol. With the successful scale-up of this technology, it is believed that Gevo’s HEDFs could be produced at a lower cost than the petroleum-based equivalent, even at current oilprices.
The outlook reflects increased use of LNG in markets outside of North America, strong domestic natural gas production, reduced pipeline imports and increased pipeline exports, and relatively low natural gas prices in the United States compared to other global markets.
Saudi Arabia is preparing to unveil how much oil it holds, a closely guarded state secret that has been kept quiet for decades. The decision to bring such important data to light comes as Saudi Aramco is preparing to partially privatize its assets, an IPO that could bring in some $100 billion. But nobody knows except the Saudis.
Expanding into an area outside of the oil supermajors’ expertise is risky—batteries are a hard business to win even for industry veterans—but action is key as transportation and the grid increasingly march toward more electrification, Lux suggests. —Cosmin Laslau, Lux Research Senior Analyst and lead author.
The IMO fuel sulfur content regulation will have a significant global impact on both the refining and the shipping industries. Heavy fuel oil (HFO) is the predominant marine fuel. IHS Markit expects an unprecedented light-heavy price spread during 2020 to 2021. Earlier post.)
AECOM is a global provider of professional technical and management support services to a broad range of markets. The study examined eleven market segments: Passenger Vehicles by vehicle size (small, medium, large) and by distance travelled (low, medium and high vehicle kilometers travelled (VKT)); Light Commercial Vehicles (LCV); and Taxis.
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