World Energy Consumption Since 1820 in Charts By Gail Tverberg Figure 1 (above) shows the huge increase in world energy co...
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Monday, 24 June 2019
There is no doubt that a severe disruption to the transit of oil through this vulnerable route would be extremely serious,” said consultancy FGE Energy in a note.
NEW YORK (Reuters) - Oil futures rose 1% on Friday, with U.S. crude up 10% in the week and global benchmark Brent gaining 5%, on fears the United States could attack Iran and disrupt flows from the Middle East, which provides more than a fifth of the world’s oil output.
Monday, 17 June 2019
"Surging U.S. supply as well as gains from Brazil, Canada and Norway would contribute to an increase in non-OPEC supply of 1.9 million bpd this year and 2.3 million bpd in 2020"
IEA cuts 2019 estimate for oil demand growth on global trade worries
LONDON (Reuters) - The outlook for oil demand growth in 2019 has dimmed due to worsening prospects for world trade, the International Energy Agency (IEA) said on Friday, although stimulus packages and developing countries should boost growth going into 2020.
The Paris-based IEA, which coordinates the energy policies of industrial nations, revised down its 2019 demand growth estimate by 100,000 barrels to 1.2 million barrels per day (bpd), but said it would climb to 1.4 million bpd for 2020.
“The main focus is on oil demand as economic sentiment weakens ... The consequences for oil demand are becoming apparent,” the IEA said in its monthly oil report.
“The worsening trade outlook (is) a common theme across all regions”, it added.
The oil demand growth forecast assumes the maintenance of U.S. and Chinese tariffs imposed on goods in 2018, but the IEA said it had not factored in further U.S. tariffs announced in May.
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Monday, 10 June 2019
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