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IEA March Oil Market Report revises 2015 demand forecast upward

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IEA raised its forecast of demand growth for all of 2015 by 75 kb/d to 1.0 Global supply rose by 1.3 expected US crude supply, raising the 2015 North American outlook. mb/d, as losses in Libya and Iraq offset higher supply from Saudi Arabia, Iran and Angola. year gains estimated at around 0.9 OPEC output.

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ExxonMobil brings Kearl oil sands expansion online ahead of schedule; overall capacity doubling to 220K barrels per day

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This places oil sands within the same GHG intensity range as 45% of crude oil supplied to US refineries in 2012.). gCO 2 e/MJ, calculated by weighting the carbon intensity value for each crude by the volume supplied to California refineries during 2012, 2013, and 2014.).

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INPEX and Total launch the $34B Ichthys offshore Australia LNG Project; entire 8.5 Mt/y LNG output already sold for 15 years

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In delivering this important project into production we will be securing vital long-term energy supply to Japan.Ichthys production volumes represent more than 10% of Japan’s LNG imports at current. Ichthys will provide a long-term stable supply of cleaner energy to. First LNG will be delivered in 2015. million tons per year.

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Opinion: Saudis Could Face An Open Revolt At Next OPEC Meeting

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CME Brent oil futures project continuity: as of August 18, 2015, CME Brent futures projected the price remaining below $60/bbl until June 2017. Interestingly, also, the Saudis increased their share of OPEC average daily output in the first half of 2015 over 2014 average daily volume—and their share of average daily global output.

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Opinion: Is Russia Plotting To Bring Down OPEC?

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According to the IMF’s 2015 Article IV Consultation-Press Release and Staff Report , published August 3, oil and natural gas exports constituted 65 percent of exports, 52 percent of the Federal government budget, and 14.5 Russia supplied about 30 percent (146.6 in 2015 and 2016 respectively). in 2015 and 2016 respectively).

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