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HomeOil Demand

Oil Demand

News

Crude oil prices increased in 2021 as global crude oil demand outpaced supply

January 5, 2022 Energi Staff

By Jimmy Troderman This article was published by the US Energy Information Administration on Jan. 4, 2022. Crude oil prices increased in 2021 as increasing COVID-19 vaccination rates, loosening pandemic-related restrictions, and a growing economy [Read more]

Opinion

Opinion: Outlook for oil product demand

January 4, 2019 Energi Staff

The pace and extent of the changes for oil product demand forecast in the International Energy Agency’s New Policies Scenario pose a significant test to refiners.  Phillips 66 photo. Oil product demand for “top of [Read more] [Read more]

Opinion

Opinion: Are we heading for an oil supply shock?

November 16, 2018 Energi Staff

To avoid an oil supply shock in the coming years, the International Energy Agency says in its World Energy Outlook 2018 that there is a need to develop new upstream oil investments.  Getty Images photo. [Read more]

US crude output
News

EIA forecasts US crude output to top 12 million b/d by 2019

November 6, 2018 Energi Staff

In its monthly report, the US Energy Information Administration says US crude output is expected to average 12.06 million barrels per day (b/d) by mid-2019.  Anadarko photo. US crude output expected to average 12.06 million [Read more]

Iran sanctions
News

US grants Iran sanctions waivers to eight countries, including China

November 5, 2018 Energi Staff

The Trump administration is temporarily granting eight countries permission to purchase oil from Iran.  The Iran sanctions exemptions for China, India, South Korea, Japan, Italy, Greece, Taiwan and Turkey are set to last up to [Read more]

oil supply
News

IEA: Oil supply and demand nearing significant peaks

October 12, 2018 Energi Staff

As oil supply and demand increase, the International Energy Agency says “our position is that expensive energy is back, with oil, gas and coal trading at multi-year highs, and it poses a threat to economic [Read more]

Petrochemicals
News

Petrochemicals becoming the largest driver of oil demand: IEA

October 5, 2018 Energi Staff

According to a major study conducted by the International Energy Agency, petrochemicals are set to account for over one-third of the growth in world oil demand by 2030.   Petrochemicals “key blindspot” in global energy debate: [Read more]

oil market
Opinion

Opinion: Oil market hears echoes of 2007/8

September 24, 2018 Energi Staff

Price moves tend to accelerate in the run-up to cyclical peaks and troughs, as the oil market struggles to overcome a worsening deficit or surplus.  Total photo. In 2007, concerns about the oil market were [Read more]

oil prices
Opinion

Opinion: Higher oil prices set to moderate consumption growth

June 14, 2018 Energi Staff

With oil prices up 70 per cent over the last 12 months, higher prices are set to moderate OECD consumption and thereby global demand growth in 2018/19.  Chevron photo. Consumption has risen by an average [Read more]

chinese refineries
News

Maintenance at Chinese refineries will cut into crude demand

April 27, 2018 Energi Staff

Some Chinese refineries will shut down in May and June for annual maintenance, which will cut China’s throughput by about 10 per cent and reduce global crude demand.   At least six Chinese refineries are planning [Read more]

OPEC
Opinion

Opinion: Mission accomplished for OPEC as oil moves from slump to boom

April 24, 2018 Energi Staff

John Kemp argues that if OPEC maintains its current output curbs through December, the market is set to become exceptionally tight, which will push prices and spreads towards unstable levels.  Anadarko photo. By John Kemp [Read more]

technologies
News

Despite focus on electric vehicles, global oil demand growing in short term, supporting high refinery margins – IHS Markit

April 19, 2018 Energi Staff 2

Strong demand growth for oil expected through 2020, as refiners enjoy extended “mini” golden age Short-term oil demand is still growing strong and will continue to do so through the end of 2020; a trend [Read more]

OPEC
News

OPEC “mission accomplished” as crude stocks down: IEA

April 13, 2018 Energi Staff

The International Energy Agency says OPEC and non-OPEC countries participating in the cartel’s supply cut agreement have reached their goals of cutting global crude stocks to desired levels. Bloomberg photo by Daniel Acker. OPEC goal [Read more]

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In the Spotlight

Smith’s panel on Alberta’s energy future is a bad joke

by Markham Hislop in Markham on Energy

“A new advisory panel will develop a long-term vision for Alberta’s energy future and recommend steps the province should take to ensure the industry [emphasis added] continues to thrive for decades to come.” Premier Danielle [Read more]

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