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

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Oil production growth from the United States, Brazil, Canada and Norway can keep the world well supplied, more than meeting global oil demand growth through 2020, but more investment will be needed to boost output after that, according to the International Energy Agency’s latest annual report on oil markets. mb/d in 2017. mb/d in 2017.

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An OPEC Deal Extension Isn’t As Simple As It Sounds

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It’s been six months now that oil prices have been reacting to OPEC, first to the possibility of an agreement, and then to the production cut deal itself, forged by OPEC to rebalance the market. And according to Iraq, the agreed-upon cuts have been all about exports all along. But Iraq is uniquely positioned.

Iraq 150
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Opinion: Is Russia Plotting To Bring Down OPEC?

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Control over the transportation assets in this region together with vast gas reserves make Russia the key element of this new market.”. The Saudi decision to let the market set prices and to pursue market share, has led to steep declines in crude and petroleum product prices. in 2015 and 2016 respectively).

Russia 150
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Opinion: Saudis Could Face An Open Revolt At Next OPEC Meeting

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OPEC next gathers December 4 in Vienna, just over a year since Saudi Oil Minister Ali Al-Naimi announced at the previous OPEC winter meeting the Saudi decision to let the oil market determine oil prices rather than to continue Saudi Arabia's role of guarantor of $100+/bbl oil. Market” forces include many components.

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The Technical Failure That Could Clear The Oil Glut In A Matter Of Weeks

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Between 2012 and 2016, Maersk had been working on field development, slated to have cost $1.5 Amin Nasser’s aim is to go beyond global oil markets. These technical challenges will need an increased amount of investments, which will be hard to come by in today’s market. billion, to sustain output at current levels.

Oil 186
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Opinion: The Current Oil Price Rally Is Reaching Its Limits

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American oil companies have gutted their budgets and have put off drilling plans, with many projecting absolute declines in 2016. Moreover, supply outages in places like Iraq and Nigeria have also knocked at least a quarter of a million barrels per day offline, an unexpected disruption that put upward pressure on prices in March.

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Opinion: Oil Megaprojects Won’t Stay On The Shelf For Long

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The International Energy Agency sees North American shale peaking towards the early part of the 2020s and declining thereafter, all but making it a blip on the radar when looking at oil production from a long-term standpoint. It may just delay the adjustment for oil markets. “It rig count has declined by more than half, U.S.

Oil 150