Tag: peak
Permian Basin smashes production record from 1973 by 25 million barrels
Permian production peak will push U.S. to new record liquids production by end of 2018 The prolific Permian Basin, a mature hydrocarbon ‘super basin’ located in west Texas and southeastern New Mexico, reached a new oil-production record of 815 million barrels or more* in 2017—far exceeding its previous peak of 790 million barrels set in […]
When will the market face peak demand? Wood Mackenzie
Prospect of peak oil demand very real, industry needs to plan ahead The market is no stranger to peak oil. But industry focus is shifting from concerns about peak oil supply to a more concrete threat– peak demand. The Rise and Fall of Black Gold, released today by Wood Mackenzie, is a comprehensive, cross-commodity, cross-value chain […]
Oil demand won’t peak before 2040, despite Paris deal: IEA
IEA estimates global supply will rise to 113.6 million bpd by 2040 The International Energy Agency expects global oil consumption to peak no sooner than 2040, leaving its long-term forecasts for supply and demand unchanged despite the 2015 Paris Climate Change Agreement entering into force. The Paris accord to cut harmful emissions seeks to wean […]
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