US gasoline consumption will peak by 2023 in the aftermath of the coronavirus pandemic as increased fuel efficiency and electric vehicle sales take hold, but domestic crude oil production will keep rising to a record high of about 13.9 million b/d in 2034 before slowly falling, according to the...
Fuel economy measures and green building technologies readily available today could cut US oil consumption in half over the next 20 years, saving an estimated 11 million barrels every day by 2035, according to an analysis by the Union of Concerned Scientists (UCS). TheHalf the Oil Planslashes ...
Ramos-Peon said. Rystad expects U.S. production to rise to 13.6 million barrels per day next year and 13.9 million in 2025, he said. After that, forecasts get more difficult because so much can change, but by late this decade oil consumption should peak before...
Global energy consumption by source. Credit: Energy Institute Statistical Review 2023 From a commercial perspective, the American majors' more determined focus on their core oil and gas business has been rewarded. ExxonMobil'searnings havebeensmashing estimates, for instance. As CEO Darren Woodsput i...
BloombergNEF The US is the world’s second-biggest electricity system, its second-biggest greenhouse gas emitter, its biggest oil consumer, its largest producer of natural gas and tied for first largest exporter of liquefied natural gas. The US energy system is very big; it is also increasingly...
The U.S. Energy Information Administration expects U.S. crude oil production to peak in 2030, while OPEC production is expected to continue rising through 2050.23 Much of the growth in energy consumption is expected to take place in developing Asian countries, where petroleum liquids demand is ex...
OPEC's oil production cuts were not implemented, mainly because Iraq's production exceeded its quota for the second month in a row. The latest OPEC report basically remains unchanged in its global oil supply and demand forecast for this year and next. Oil consumption is expected to increase st...
“The consensus is we are not going to get back to pre-Covid levels of consumption,” said Robert Campbell, head of energy transition research at consultancy Energy Aspects. “That matters because US gasoline is the world’s largest single market for an oil product. It dwarfs any other nati...
U.S. Base Oil Demand Rebound in Question After First-Quarter Oversupply One of the key questions looming in the base oils industry as 2024 began was whether demand would rebound from its 40-year low in 2023. The peak spring sea... A Hay - 《Compoundings》 被引量: 0发表: 2024年 INSIG...
Crude oil, coal and gas, known as fossil fuels, play a crucial role in the global economy. This paper proposes new econometrics modelling to demonstrate the trend of fossil fuels consumption. The main variables affecting consumption trends are: world reserves, the price of fossil fuels, US prod...