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Is China’s Oil Demand Set For A Major Bounce Back?
Is China’s Oil Demand Set For A Major Bounce Back? China’s extraordinary economic expansion almost singlehandedly drove a supercycle in key commodities since the mid-90s. This robust performance across several major sectors in China’s economy is in sharp contrast to the growth drivers seen last year. China continues to buy oil from Russia and Iran […]
World Should Brace for Global Oil Shortage and Skyrocketing Price Due to Worsening Crisis
World Should Brace for Global Oil Shortage and Skyrocketing Price Due to Worsening Crisis According to economists, chronic underinvestment in new oil supply since the 2015 crisis, as well as pressure on oil and gas corporations to reduce emissions and even “keep it in the ground,” would likely lead to global oil output peaking sooner than […]
What Oil Companies Face: The WTF-Collapse of Consumption of Gasoline & Jet Fuel from Long-Term Weakness
What Oil Companies Face: The WTF-Collapse of Consumption of Gasoline & Jet Fuel from Long-Term Weakness Transportation fuel demand rose to where it had been in … 1997. While the overall S&P 500 Index is down 2.7% in October, about flat for the three-month period, and up 2.8% for the year, the S&P 500 Energy […]
Has oil peaked?
Has oil peaked? Last month, the world’s 4th largest oil company—BP—predicted that the world will never again consume as much petroleum as it did last year. So, have we finally hit peak oil? And if so, what does that mean for our economy and our world? There was fierce controversy in the first decade of this century […]
ASIA, AUSTRALIA, BP STATISTICAL REVIEW, SOUTH EAST ASIA, VIETNAM
Peak oil in Asia Update June 2020 (part 3) Fig 22: The peak of the largest producer China determined the Asian peak From the countries in Fig 22 the 3rd and 4th largest oil importers are Thailand and Indonesia with approximately 1 mb/d each. Fig 23: Thailand is the 3rd largest net importer in Asia […]
Peak oil in Asia Update June 2020 (part 1)
Peak oil in Asia Update June 2020 (part 1) Fig 1: Asian oil consumption is around 5 times higher than production The production decline after the peak in 2015 is very modest. The size of the gap between consumption and production is mainly determined by consumption growth rather than by production decline. Will the Corona […]
The World’s Most Important Oil Consumers And Producers
The World’s Most Important Oil Consumers And Producers Following last week’s release of the BP Statistical Review of World Energy 2020, I began to review and analyze the data. Today I take a deeper dive into the numbers on petroleum. Oil accounts for a third of the world’s energy consumption. That is the greatest share for any […]
Oil consumption of containerships
Oil consumption of containerships Preface. Since 90% of international goods move by ships, I was curious about how much fuel they burned. It’s a lot: The very large container ship CMA CGM Benjamin Franklin above, which can carry 18,000 20-foot containers, carries approximately 4.5 million gallons of fuel oil, which takes up 16,000 cubic meters […]
Global oil discoveries far from breaking even with consumption
Global oil discoveries far from breaking even with consumption Preface. According to Bloomberg (2016), oil discoveries in 2015 were the lowest since 1947, with just 2.7 billion barrels of conventional oil found globally (though Rystad calculated this differently at 5.6, nearly twice as much). Since the world burns 36.5 billion barrels of oil a year […]
Sluggish Oil Demand To Keep A Lid On Oil Prices Amid Global Recession Fears
Sluggish Oil Demand To Keep A Lid On Oil Prices Amid Global Recession Fears John Kemp, senior market analyst of commodities at Reuters, cites a new report via B.P.’s finance chief that indicates global oil consumption will be less than 1 million barrels per day this year, an ominous sign that the global economy is quickly deteriorating. […]
European oil consumption after North Sea Peak Oil
European oil consumption after North Sea Peak Oil Hors-d’oeuvre On the streets of Paris: 24 Nov 2018 Fuel price protests on the Champs Elysees https://france-inflation.com/prix-carburants.php 20 Nov 2018: The “gilets jaunes” have a hard time to convince truck drivers to join their movement https://www.francetvinfo.fr/economie/transports/prix-des-carburants/gilets-jaunes-les-routiers-divises_3045615.html They were more successful on the French island of Réunion in […]
Has The World Started To Kick Its Oil Addiction?
Has The World Started To Kick Its Oil Addiction? Until a decade ago, most of the world was a captive customer of oil—consumers would pay any price for gasoline and oil demand was soaring regardless of the surging oil prices. But recently, many countries around the world have started to show more sensitivity to oil […]
Peak Oil Demand Is A Slow-Motion Train Wreck
Peak Oil Demand Is A Slow-Motion Train Wreck Will oil demand peak within five years? 15 years? Or not until 2040 or 2050? The precise date at which oil demand hits a high point and then enters into decline has been the subject of much debate, and a topic that has attracted a lot of […]
China’s oil peak 45 years after the US peak
China’s oil peak 45 years after the US peak Fig 1: Oil crisis in China like in 2005? No. By order: Free roads for G20 in Hangzhou https://www.theguardian.com/world/2016/aug/31/china-hangzhou-propaganda-facelift-g20-summit Strategically published only days before the G20 summit the Wall Street Journal had an article on peak oil in China: China’s Decline in Oil Production Echoes Globally […]
Peak Oil in Asia and oil import trends (part 2)
Peak Oil in Asia and oil import trends (part 2) We pick up the question from part 1: Fig 11: Homework for governments Let’s have a look where all the net imports into Asia have come from in the past: Fig 12: Asia net imports – overview BP’s data on inter area oil movements start […]
