At first glance, it seems the clean energy front isn’t going as well as we’d like. The Trump administration has used every tool in its power — and then some — to extinguish clean energy innovation and installations. Yet hope springs eternal, to the point that, in March, the US … [continued]
It’s now been more than two months since US President Donald Trump ordered the execution of a Special Military Operation in Venezuela leading to the capture of Nicolás Maduro and the transfer of power to Delcy Rodríguez, and more than 10 days since that same president ordered the start of … [continued]
ChatGPT generated panoramic image of Two diverging roads: One road lush with greenery, clean air, and renewable energy sources like wind turbines, while the other is cracked, barren, with smoke plumes rising from fossil fuel plants.
You’d think that hedge funds would be bearish on oil stocks, right? Actually, that’s no longer the case. Instead, more hedge funds are shifting from oil shorts to renewables. Solar in particular is a favorite target of asset managers. This change of approach indicates a real reversal of energy strategies … [continued]
We forecast benchmark Brent crude oil prices will fall from an average of $81 per barrel (b) in 2024 to $74/b in 2025 and $66/b in 2026, as strong global growth in production of petroleum and other liquids and slower demand growth put downward pressure on prices and help offset heightened geopolitical risks and … [continued]
The good news: oil demand is cooling. The bad news: it’s not yet done growing. One can’t really claim oil demand is “falling” (yet), but growth has slowed down to its lowest level in over a decade, with 2024 being a pivotal year. Let’s look at the realities of oil … [continued]
We increased our forecast prices for crude oil and petroleum products for the remainder of 2024 in our March Short-Term Energy Outlook (STEO) following the announcement that OPEC+ will extend the existing voluntary production cuts through the second quarter of 2024. We now forecast significantly less global oil production than world oil consumption through the first … [continued]
In 2023, the world produced an estimated 101.8 million barrels per day (b/d) of petroleum and other liquids: mostly crude oil but also lease condensate, natural gas liquids, biofuels, and other liquids from hydrocarbon sources. We expect the global petroleum and other liquids supply to increase by about 0.4 million … [continued]
CERAWeek 2024 featured an address by Aramco CEO Amin Nasser in which he called a transition away from fossil fuels “a fantasy.”:
The year is 2016. The Tesla Model 3 is still firmly in production hell and won’t be able to ramp up production for two more years. Volkswagen is announcing its MEB platform and high hopes are being placed on the ID lineup. BYD is just entering its new phase of … [continued]
It appears COP28 will finish with a whimper as the oil countries have aligned to prevent any significant action on fossil fuels.
