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Tag: oil demand


Chemical, Conventional Fuels, Energy Consumption, Global

The World’s Top 10 Oil Producers And Consumers

June 26, 2020

Via: Forbes

Following last week’s release of the BP Statistical Review of World Energy 2020, I began to review and analyze the data. Today I take a deeper dive into the numbers on petroleum. Oil accounts for a third of the world’s […]


Commercialization, Conventional Fuels

Goldman Sachs says an oil price correction as deep as 20% ‘may already be underway’

June 9, 2020

Via: CNBC energy

Goldman Sachs sees a correction in oil prices on the horizon even amid a significant recovery in the last month and the recent decision by OPEC and its allies to extend historically large production cuts through July. “With oil now […]


Commercialization, Conventional Fuels

Oil jumps 13% in fifth day of gains on demand recovery and production cuts

May 5, 2020

Via: CNBC energy

Oil prices surged on Tuesday as optimism around ongoing production cuts and a recovery in demand with the reopening of economies around the world pushed prices higher. West Texas Intermediate, the U.S. benchmark, jumped 20.45%, or $4.17, to settle at […]


Commercialization, Conventional Fuels

Supply Chain Faces Up To Challenge Of Low Oil Price World

May 1, 2020

Via: Forbes

How will U.S.$20/bbl affect the oil and gas supply chain? It’s going to get tough, very tough. The service sector is already on the ropes but will be first port of call when operators look to save money. IOCs and […]


Chemical, Conventional Fuels

Are We Nearing Peak Oil Supply?

April 24, 2020

Via: Forbes

Are we now deep in the abyss? Up to our necks in it, if the oil price is any guide. Brent has now tested sub-U.S.$20 a barrel in this downturn and WTI sub-zero, albeit briefly and in somewhat freakish circumstances. […]


Commercialization, Conventional Fuels

Oil Was A Strategic Prize In 1940. It Likely Will Be In 2040 As Well

April 6, 2020

Via: Forbes

Recent commentaries have been quick to peg the unfolding coronavirus pandemic as the second, or perhaps third, ringing of oil’s death knell. To be sure, the lockdowns are destroying oil demand at an unprecedented scale. Yet trying times demand perspective. […]


Commercialization, Conventional Fuels

Oil drops as much as 8%, on pace for worst week in more than a decade

March 12, 2020

Via: CNBC energy

Oil prices dropped as much as 8% on Thursday as crude continues to take a hit on both the supply and demand side. U.S. West Texas Intermediate crude is now down more than 25% this week, putting it on track […]


Commercialization, Conventional Fuels

Is This The Next Oil Price Collapse?

March 9, 2020

Via: Forbes

While OPEC and its compatriots struggle to cope with the demand weakness caused by the covid19 virus, it must be asked if this is more than a brief interlude in an otherwise robust oil market (robust in terms of price, […]


Commercialization, Conventional Fuels

Oil Has Nothing To Fear But Fear Itself — And Covid19

March 2, 2020

Via: Forbes

Covid19 has now graduated from a concern to a pandemic, regardless of whether it is officially declared so. (Although it might have been by the time you read this.) It appears highly likely that the effect on the economy is […]


Chemical, Conventional Fuels, Energy Consumption, Global

OPEC cuts oil demand growth forecast for a third consecutive month

October 10, 2019

Via: CNBC energy

OPEC trimmed its forecast for oil demand growth for the third month in a row on Thursday, citing weaker-than-expected data in the Asia Pacific region as well as advanced economies in the Americas. The move is likely to add to […]


Commercialization, Conventional Fuels

With Iran Backed Into A Corner, Where Is The Risk Premium On Oil?

July 22, 2019

Via: Forbes

The United States and Iran both say they want to avoid war. Even without one, the drama we’ve seen the last two months in the Persian Gulf still presents a threat to the global energy industry. That risk is incredibly […]


Commercialization, Conventional Fuels

Oil price ‘could easily be $75’ if trade truce boosts demand, expert says

July 2, 2019

Via: CNBC energy

The success, or failure, of trade talks between the U.S. and China will be a decisive factor in the oil price outlook this year, despite OPEC’s decision to extend production cuts, oil market expert Amrita Sen told CNBC on Tuesday. […]


Chemical, Conventional Fuels, Energy Consumption, Global

OPEC’s oil output falls to 5-year low in May as group warns of weaker demand

June 13, 2019

Via: CNBC energy

Oil output from OPEC fell in May, hitting a five-year low as the group warned that U.S.-China trade tensions could lead to slower economic growth and weak fuel demand. Production from the 14-nation producer club fell by 236,000 barrels per […]


Commercialization, Conventional Fuels

The Oil Market Looks Oversold

May 31, 2019

Via: Forbes

The oil price has plummeted in recent days, with a spectacular drop of $3.51 on May 23. Well, not spectacular (see figure) but definitely notable, especially given an extremely bullish geopolitical situation. Venezuelan production appears likely to remain near zero […]


Chemical, Conventional Fuels

Investors Demand Oil, Gas Firms Adopt Climate Targets, But They Must Also Apply Them To Their Funds

April 29, 2019

Via: Forbes

Oil companies face an existential threat unless they adopt business models that support the Agreement’s targets on climate change, according to investors with $10 trillion of assets under management. Yet many of those same investors are failing to practice what […]


Commercialization, Conventional Fuels, Energy Consumption, Global

Oil demand is beating bearish forecasts and will push prices above $70: Goldman Sachs

March 15, 2019

Via: CNBC energy

The world’s appetite for oil and gasoline is growing faster than many forecasters expected, putting Brent crude on pace to top $70 a barrel, Goldman Sachs says. The investment bank says oil demand grew by 1.55 million barrels per day […]


Energy Consumption, Global, News and Policies, World

ESAI: China’s oil demand will surprise to the upside in 2019

December 28, 2018

Via: Energy Global

Contrary to some observers who focus intently on trade data as a proxy for demand, China’s total oil product demand rose by only 150 000 bpd in 2018. This is part of the reason why the global oil market is […]


Chemical, Conventional Fuels, Energy Consumption, Global

Forecasts Of Peak Oil Demand Overstated

September 18, 2018

Via: Forbes

There will come a time in the future when oil demand stops growing, but recent forecasts putting that date in 2023, five years from today, should be viewed with skepticism. Long-term forecasts about oil market behavior are notoriously wrong and […]


Chemical, Conventional Fuels

Oil Will Remain A Large, Viable Industry

September 14, 2018

Via: Forbes

In the previous article, I discussed the natural gas projections from the recent report Rivalry: The IHS Markit View of the Energy Future (2018-50). IHS Markit is a provider of global market data for a number of sectors, including energy. […]


Energy Consumption, Global

Asia’s Insatiable Oil Demand

July 19, 2018

Via: Forbes

Last month the 2018 BP Statistical Review of World Energy revealed that global oil production has now grown for eight straight years. Oil consumption rose to a new high as well, and has increased in 31 of the past 34 […]