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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 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. mb/d for the first half of 2015, down from a sharp 2.2 year gains estimated at around 0.9

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The 5 Countries That Could Push Oil Prices Up

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The ‘Fragile Five’ petrostates—Iran, Iraq, Libya, Nigeria and Venezuela—continue to see supply disruption potential, with northern Iraq crude exports at risk due to an escalation of tensions between the (Kurdistan Regional Government), Baghdad and Turkey, while the United States has decertified the 2015 Iran nuclear deal,” U.S.

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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 in 2015 and 2016 respectively). in 2015 and 2016 respectively). Live by Energy…. percent of GDP in 2014.

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IEA: global electricity demand growing faster than renewables, driving strong increase in generation from coal

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Global changes in electricity generation, 2015-2022. Since the IEA’s last Electricity Market Report in December 2020, extreme cold, heat and drought have caused serious strains and disruptions to electricity systems across the globe in countries ranging from the United States and Mexico to China and Iraq.

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Opinion: How Much Longer Can OPEC Hold Out?

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The EIA even predicts that OPEC’s net oil exports (excluding Iran) could fall to as low as $380 billion in 2015. Iraq’s Issues. After Saudi Arabia, Iraq is the biggest crude oil producer in OPEC. It also has the fifth largest proven crude oil reserves in the world.

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IEA: record oil output from US, Brazil, Canada and Norway to keep global markets well supplied

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The oil industry has yet to recover from an unprecedented two-year drop in investment in 2015-2016, and the IEA sees little-to-no increase in upstream spending outside of the United States in 2017 and 2018. However, the report finds that despite falling costs, additional investment will be needed to spur supply growth after 2020.

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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.