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IEA: non-OPEC oil supply tops 43 mb/d for first time in decades; global demand to reach 92.4 mb/d in 2014

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The International Energy Agency’s (IEA’s) Oil Market Report (OMR) for December raised the estimate of global oil demand for 2013 by 130,000 barrels per day (130 kb/d) to 91.2 mb/d in both 2013 and 2014, to reach 92.4 mb/d in both 2013 and 2014, to reach 92.4 Global demand is now seen advancing by 1.2 mb/d in 2014.

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Opinion: OPEC Divorce And Self-Destruction Thanks To Saudi Oil Strategy?

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Together, the three quotes provide a framework for analyzing Saudi options heading into the December 4 OPEC meeting in Vienna and its choices vis-à-vis the OPEC outsiders (all members but Saudi Arabia and its Gulf Arab allies, Kuwait, UAE, Qatar): reconciliation, separation, or divorce. If You’re a Free Range Oil Producer. dollar spreadsheet.

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Landsat Proved the Power of Remote Sensing

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Toward the end, though, the speech took a curious and hopeful turn, as Nixon rhapsodized about the unifying potential of international cooperation in space exploration. The two nations also cooperated on applying remote sensing to geology and hydrology in the hopes of allaying international concerns over American espionage.

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Opinion: Is Russia Plotting To Bring Down OPEC?

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mmbbl/day) in 2013. Putin has aligned Russia with OPEC’s have-nots—the members lacking financial resources to withstand low crude prices for an extended period and that have objected to Saudi policies (Iran, Iraq, Angola, Nigeria, Libya, Algeria, Ecuador, and Venezuela)—against the haves (Saudi Arabia, Kuwait, the UAE, and Qatar).

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