Post Tagged with: "Oil demand"

Source: Reuters

Coronavirus unlikely to have big impact on oil prices: U.S. energy secretary

Reuters


LISBON (Reuters) – The coronavirus epidemic in China has had a marginal impact on energy markets and is unlikely to dramatically push up oil prices even if Chinese demand falls by 500,000 barrels per day, U.S. Energy Secretary Dan …

Source: CNBC

Global oil demand set to see first quarterly decline in over 10 years, IEA says

CNBC


Global oil demand is now expected to see its first quarterly contraction in over a decade, according to the International Energy Agency (IEA), as the new coronavirus and widespread shutdown of China’s economy hits demand for crude.

Demand is …

Source Houston Chronicle

Oil falls to three-month low as virus spread raises demand fear

Houston Chronicle


(Bloomberg) — Oil tumbled to the lowest in more than three months on fears China’s deadly coronavirus will hit demand in a market that already has plentiful supply.

Futures plunged more than 3% as China reported an increase …

January 27, 2020 - 10:30 am China, Closing Bell Story‎, Commodity Pricing, Crude Oil News
Oil Sector Cutting Spending as Wall Street Turns its Back

Oil Sector Cutting Spending as Wall Street Turns its Back

From the Houston Chronicle

The U.S. energy sector, while not entering a downturn, is facing an extended period of lower oil prices, lower profits and tighter spending, ultimately leading to slower growth, fewer companies and fewer jobs in Houston and …

Oil Demand to Reach 100 Million BOPD Much Sooner than Projected: OPEC Chief

Oil Demand to Reach 100 Million BOPD Much Sooner than Projected: OPEC Chief

From Reuters

CAPE TOWN (Reuters) – World oil consumption will reach 100 million barrels per day (bpd) later this year, hitting that level much sooner than previously forecast, OPEC’s secretary-general said on Wednesday.

Mohammad Barkindo also told an energy conference …

September 6, 2018 - 11:36 am Closing Bell Story‎, Crude Oil News, Energy News
IEA Revises Up Forecasts of Global Oil Demand Growth

IEA Revises Up Forecasts of Global Oil Demand Growth

The latest Oil Market Report by IEA suggests that the global demand growth for oil has been revised upwards to 1.6 million BOPD. This number has already included the effects of Hurricanes Irma and Harvey on the U.S. energy demand.…

Higher Gasoline Costs Sent Consumer Price Index Soaring in April - 360

Long Vehicle Life Means Oil Consumption Won’t Change Suddenly

96% of new vehicle sales in 2016 featured combustion engines

The implementation of electric vehicles and ride-sharing may have long-term effects on oil demand, but the speed at which changes to the vehicle fleet takes place are likely to ensure …

December 20, 2016 - 6:21 pm Closing Bell Story‎, Oil and Gas 360 Articles, Oil Sands
EPA Carbon Standards for Cars, Light Trucks to Reduce Oil Consumption by 1.2 Billion Barrels

EPA Carbon Standards for Cars, Light Trucks to Reduce Oil Consumption by 1.2 Billion Barrels

EPA carbon rule is expected to add $800-$1,100 to new car sticker prices and reduce oil consumption by 1.2 billion barrels

While the oil industry was watching OPEC, U.S. Environmental Protection Agency (EPA) Administrator Gina McCarthy has issued a final …

Crude Exports, LNG and NatGas: Part II with NAPIA and Energy Directions President Mike Smolinski

Crude Exports, LNG and NatGas: Part II with NAPIA and Energy Directions President Mike Smolinski

In this second and final part of our exclusive interview, NAPIA and Energy Directions President Mike Smolinski talks about the effect of growing U.S. crude oil and LNG exports on global markets and refining, the effect of $2.50 natural gas …

Oil Supply & Demand: an Interview with NAPIA and Energy Directions President Mike Smolinski

Oil Supply & Demand: an Interview with NAPIA and Energy Directions President Mike Smolinski

In this multi-part interview, NAPIA and Energy Directions President Mike Smolinski talks about oil demand, supply, price shocks, and a coming rebalance, with a detailed look at how today’s oil market fundamentals will affect U.S. oil and gas producers, oilservice …

OPEC Head Says Oil Prices Will Not Fall Further

OPEC Head Says Oil Prices Will Not Fall Further

OPEC sees higher demand balancing markets

OPEC Secretary General Abdalla Salem El-Badri said the organization does not expect prices to fall any lower as demand picks up in 2016 and continues to grow through the end of the decade. “The …

OPEC: Too Close to Call - Oil & Gas 360

OPEC Raises 2015 Oil Demand Growth Estimate to 1.28 Million Barrels per Day

OPEC sees ‘a more balanced market’ – a higher demand for its crude oil in 2016

The Organization of Petroleum Exporting Countries (OPEC) released its Oil Monthly Report (OMR) for July, predicting economic growth would continue to drive oil …