India will become largest source of global oil demand growth, says IEA

India will in seven years become the largest source of global oil demand growth as its domestic production shrinks 22 per cent, said the International Energy Agency (IEA) in the latest report titled ‘Indian Oil Market Outlook to 2030’. It further added that while growth in developed economies and China initially slows and then subsequently

Energy transition to curb oil demand growth

Global oil demand will grow by 2.4 million barrels per day (bpd) in 2023 to a record 102.3 million bpd, the IEA said in its monthly report.

Oil demand may take a dip in transport sector by 2050

According to DNV’s latest Transport in Transition report, electricity’s share in transport will grow from the existing 1% to 23% in 2050. The report draws on DNV’s system dynamics-based Energy Transition Outlook model and explores the vast changes in fuels, electricity and infrastructure needed to transport ever-larger numbers of people and volumes of freight while

Cutting oil demand can hurt Russia: IEA

Responding to Russia’s invasion of Ukraine, the International Energy Agency (IEA) unveiled a 10-point plan recently to slash oil demand in developed economies by about 2.7 million barrels a day within four months. Reducing demand will make it a lot easier to impose tough sanctions on Russian exports, but the proposals also serve the longer-term

US Refiners Cash in on Fat Margins as Fuel Demand Surges

US refineries are enjoying the highest profit margins to turn crude oil into gasoline in four years for this time of the year, as demand for the fuel jumps. The Nymex gasoline crack, a rough gauge of the margin refiners can capture with a barrel of crude based on futures prices in New York, was