from the International Energy Agency, the world is headed towards a ludicrous surplus in oil supply that could see prices tumble and the industry's position falter — a forecast in no small part attributed to the growth in renewables,
With a continued drop in demand in the following year, the supply will overshoot that figure by about 8 million barrels per day — a disparity that hasn't been seen since the lockdowns at the height of the COVID-19 pandemic. On the opposite side of that equation, producers such as the US and OPEC+ members have only ramped up investments in oil, and their contributions are expected to drive production upwards with China and India, both hugely expanding economies with massive populations and a growing number of drivers, as the biggest customers.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Canada Canada Latest News, Canada Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Vermont is 1st state with law requiring oil companies pay for climate change damageVermont becomes the first state to enact a law making fossil fuel companies pay share of damage caused by climate change after catastrophic flooding.
Source: latimes - 🏆 11. / 82 Read more »
Vermont Becomes First State to Force Oil Companies to Pay for ‘Climate Change’Source of breaking news and analysis, insightful commentary and original reporting, curated and written specifically for the new generation of independent and conservative thinkers.
Source: BreitbartNews - 🏆 610. / 51 Read more »
Vt. becomes 1st state requiring oil companies to pay for damage from climate changeVermont has become the first state to enact a law requiring fossil fuel companies to pay a share of the damage caused by climate change after the state suffered catastrophic summer flooding and damage from other extreme weather.
Source: KXDF News 13 - 🏆 266. / 63 Read more »
Vermont law is first requiring oil companies pay for damage from climate changeThe law was enacted after after the state suffered catastrophic summer flooding and damage from other extreme weather.
Source: PennLive - 🏆 463. / 53 Read more »
Vermont becomes 1st state to require oil companies to pay for climate change damagesThe state's Republican governor allowed the bill to become law without his signature. The move comes after the state suffered catastrophic summer flooding and damage from other extreme weather.
Source: KPBSnews - 🏆 240. / 63 Read more »