Green Car Congress

OCTOBER 6, 2015

Even a casual glance at the IMF’s World Economic Outlook statistics for Russia shows the tight correlation since 1992 between GDP growth on the one hand and oil and gas output, exports, and prices on the other (economic series available here ). Russia supplied about 30 percent (146.6 percent of GDP in 2014. mmbbl/day) in 2013.

Russia 150

Russia Saudi Arabia Iran Iraq 150

Green Car Congress

MARCH 10, 2010

Scientists from Kuwait University and Kuwait Oil Company are forecasting that world conventional crude oil production will peak in 2014—almost a decade earlier than some other predictions. The objective of this study is to develop a forecasting model to predict world crude oil supply with better accuracy than the existing models.

Kuwait 278

Kuwait Oil 2014 Global 278

Green Car Congress

JANUARY 13, 2017

The OPEC deal is slated to take oil off the market, while US drilling is expected to add new supply. On top of that, Kuwait’s envoy to OPEC said that Qatar, Kuwait and Oman were also complying with the cuts. That bodes well for a narrowing supply surplus—and ultimately a deficit—as well as falling inventories.

Oil Prices 150

Oil Prices Oil Price Saudi Arabia 150