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Global Energy Consumption Forecasting in the Age of Climate Change – Yogi Schulz

CDN and International News, Energy Commentary, Energy Topics & Technology, Environment, Forecasts, Latest / By

By Yogi Schulz Energy consumption forecasting has become more complex due to economic and population growth uncertainties. While the pace of the energy transition will not determine global energy consumption, it will determine the mix of various energy sources throughout the forecast period. Forecasting how the mix of various energy sources will evolve adds more …

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OPEC Cuts 2024, 2025 Global Oil Demand Growth View Again

CDN and International News, Conventional Energy, Energy Topics & Technology, Forecasts, Latest, Oil, Tri-Pinned / By

(Reuters) – OPEC on Monday cut its forecast for global oil demand growth in 2024 reflecting data received so far this year and also lowered its projection for next year, marking the producer group’s third consecutive downward revision. The Organization of the Petroleum Exporting Countries in a monthly report said world oil demand will rise …

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US Oil Inventories Fall More Than Forecast, Crude at 2-1/2-Year Low, EIA Says

Conventional Energy, Energy Storage, Energy Topics & Technology, Forecasts, Latest, Oil, US News / By

(Reuters) – U.S. oil inventories fell across the board last week, the Energy Information Administration said on Wednesday, drawing down more than expected and with crude oil stockpiles hitting their lowest level in nearly 2-1/2 years. Crude stocks dropped by 4.5 million barrels to 413 million barrels in the week ended Sept. 20, the EIA …

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Eni CEO sees Brent oil price around $80 per barrel in Q4

CDN and International News, Conventional Energy, Energy Topics & Technology, Forecasts, Latest, Oil / By

(Reuters) – The chief executive of Italian energy group Eni  expects Brent oil prices to recover to around $80 per barrel in the coming months. “Oil (is seen) at around $80 per barrel, while for natural gas in Italy we can (expect a price of) 30 euros per megawatt hour,” Claudio Descalzi said on the sidelines …

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OPEC Boosts Long-Term Oil Demand Outlook, Driven by Developing World Growth

CDN and International News, Conventional Energy, Energy Topics & Technology, Forecasts, Latest, Oil, OPEC / By

By Alex Lawler and Fabio Teixeira 2045 demand forecast up 3 mln bpd from last year’s outlook OPEC extends forecast to 2050, with demand at 120.1 mln bpd OPEC sees no peak demand, unlike BP and IEA forecasts OPEC calls for $17.4 tln investment in oil industry by 2050 LONDON/RIO DE JANEIRO, Sept 24 (Reuters) …

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US EIA Lifts Oil Demand Forecast, Says Prices Will Recover to Above $80/bbl

Conventional Energy, Energy Topics & Technology, Forecasts, Latest, Oil, US News / By

(Reuters) – Global oil demand is set to grow to a bigger record this year while output growth will be smaller than prior forecasts, the U.S. Energy Information Administration (EIA) said on Tuesday. The widening supply deficit will increase withdrawals of oil from global stockpiles, pushing Brent crude prices back above $80 a barrel in …

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U.S. Oil Demand to Plateau in 2024, EIA Forecasts

Conventional Energy, Energy Topics & Technology, Forecasts, Latest, Oil, US News / By

Global consumption will grow by 1 million barrels a day EIA expects market in deficit due to OPEC+ output cuts US oil demand growth is forecast to plateau this year, in the latest bearish indicator for the market, according to the Energy Information Administration. The agency sees US consumption holding steady at 20.3 million barrels a …

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U.S. Oil Demand to Plateau in 2024, EIA Forecasts

Conventional Energy, Energy Topics & Technology, Forecasts, Latest, Oil, US News / By

Global consumption will grow by 1 million barrels a day EIA expects market in deficit due to OPEC+ output cuts US oil demand growth is forecast to plateau this year, in the latest bearish indicator for the market, according to the Energy Information Administration. The agency sees US consumption holding steady at 20.3 million barrels a …

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US Power Use Forecast to Reach Record Highs in 2024 and 2025, EIA Says

Electricity Grid, Energy Topics & Technology, Forecasts, Latest, US News / By

(Reuters) – U.S. power consumption will rise to record highs in 2024 and 2025, the U.S. Energy Information Administration (EIA) said in its Short Term Energy Outlook (STEO) on Tuesday. EIA projected power demand will rise to 4,101 billion kilowatt-hours (kWh) in 2024 and 4,185 billion kWh in 2025. That compares with 4,000 billion kWh …

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BofA Lowers 2025 Brent Forecast by $5/bbl on Softer Demand

Conventional Energy, Energy Topics & Technology, Forecasts, Latest, Oil, US News / By

Sept 6 (Reuters) – Bank of America Global Research on Friday downgraded its 2025 Brent price forecast by $5 to $75 per barrel, citing weaker demand, particularly from China, and significant inventory builds. According to the bank’s analysts, subdued global oil demand growth of 1.1 million barrels per day (bpd) year-on-year in 2025, combined with …

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