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Mar 17, 2021 · World oil markets are rebalancing after the Covid 19 crisis spurred an unprecedented collapse in demand in 2020, but they may never return to “normal”. Oil 2021, the IEA’s latest medium-term outlook, explains why. Rapid changes in behaviour from the pandemic and a stronger drive by governments towards a low-carbon future have caused a ...
- Oil Market Report - December 2021 – Analysis - IEA
On average, oil demand has been revised down by around 100...
- Oil Market Report - December 2021 – Analysis - IEA
- Vaccines and Economic Recovery
- More Consolidation
- Emissions Plans
- Clouds Over Keystone XL
- Preparing For The Energy Future
The spread of COVID-19 around the world this year squashed fuel demand, taking crude oil prices down with it. Those prices eventurned negativeat one point. Canada's oilpatch slashed jobs and spending. Market watchers expect vaccines will help air and automobile travel pick up again, lifting oil demand, but when and how much remain topics of debate....
The $3.8-billion merger of two key players in the Canadian oil and gas business — Husky Energy and Cenovus Energy— was among the big surprises of 2020. The Canadian oil and gas sector is unlikely to see another merger of such size in 2021, but analysts believe consolidation will continue in the months ahead. "There's a lot of small operators with g...
The federal Liberal government recently laid out plans for cutting greenhouse gas emissions, and debate overthe strategy is sure to continue well into 2021. The centrepiece of the policy is a gradual increase in the federal carbon tax on fuels, which means pump prices, for example, will rise by more than 37 cents a litre by 2030. Rebates will be us...
The long-running saga surrounding Keystone XL could come to a head in 2021. The pipeline project, which aims to get more Alberta crude to Gulf Coast refineries in the U.S., has long faced environmental opposition. Soon, it will face an unfriendly White House, too. President-elect Joe Biden has called it "tarsands that we don't need," with environme...
Expect to hear more talk from policy-makers and executives about preparing for the energy future, whether that's innovation in the oil industry, geothermal technology or hydrogen development. "I think this is the year that companies can really set the course for where they want to go over the next decade, and maybe the next two or three decades," s...
Dec 4, 2023 · To understand what the IEA thinks is now happening with peak oil demand, ... Globally, 14% of all new cars sold in 2022 were electric, up from 9% in 2021 and less than 5% in 2020.
Dec 14, 2021 · On average, oil demand has been revised down by around 100 kb/d since last month’s Report for both 2021 and 2022. Global oil demand is now set to rise by 5.4 mb/d in 2021 and by 3.3 mb/d in 2022, when it returns to pre-pandemic levels at 99.5 mb/d. Global oil production is poised to outpace demand from December, led by growth in the US and ...
3 days ago · After the peak, the IEA said, the reduction in oil demand will be gradual through the subsequent decade, based on countries’ current stated policies. That makes achieving the goal of net-zero ...
Jan 4, 2022 · According to our December 2021 Short-Term Energy Outlook (STEO) estimates, U.S. crude oil production in 2021 decreased by 0.1 million barrels per day (b/d) from 2020 and by 1.1 million b/d from 2019. Cold weather in February and hurricanes in August contributed to this decrease, but it also was a result of the decline in investment among U.S. oil producers since mid-2020 .
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Apr 21, 2021 · The COVID-19 pandemic this year has dented oil consumption and brought forward forecasts by energy majors, producers and analysts for when the world's demand for oil may peak.
