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IHS Markit says outlook for crude oil prices strengthens through 2021

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Emerging from the worst of the COVID-19 outbreak, oil markets are now at a delicate pivot point as they transition to phase II of the IHS Markit Three Phases of Oil Markets Recovery. Meanwhile, the global demand recovery is showing clear signs of plateauing and Chinese crude buying has begun to soften.

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IEA forecasts global oil demand to reach 101.6 mb/d in 2023; non-OECD countries lead expansion

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While higher prices and a weaker economic outlook are moderating consumption increases, a resurgent China will drive gains next year, with growth accelerating from 1.8 Non-OPEC+ is set to lead world supply growth through next year, adding 1.9 Global refining capacity is set to expand by 1 mb/d in 2022 and 1.6 mb/d and 1.9

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IHS Markit: US poised to be world’s largest LNG exporter in 2022 as China becomes top LNG importer

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The United States was the largest source of LNG supply growth in 2021, adding 25 million metric tons (MMt) amid continued buildup of liquefaction capacity as well as the ramping up of output from plants turned down the previous year. Meanwhile, mainland China has already become the top global importer of LNG. MMt set in 2014.

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Saudis Expand Price War Downstream

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The undisputed king of oil and gas is making some moves that could change the face of the global refining sector. As if being the world’s biggest exporter of oil was not enough, the desert kingdom is now looking to conquer the refining sector as it has quickly become the fourth largest refiner in the world.

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Opinion: Is Russia Plotting To Bring Down OPEC?

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While oil and natural gas are crucial to Russia, Russia’s crude and natural gas are crucial to its neighbors on the Eurasian landmass. Russia supplied about 30 percent (146.6 Russia’s oil and natural gas are also important to its Asian and Central Asian neighbors. mmbbl/day) in 2013. Death by Energy. The emergence of the U.S.,

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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. percent from 10.2 percent to 10.4

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PBL analysis finds that resources are not depleted, but expensive; badly functioning markets and wrong policies

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Global Resource Scarcities and Policies in the European Union and the Netherlands”, examines scarcity using a framework comprising three dimensions: physical, economic and political. It finds that for most resources, global stocks will be sufficient to meet increasing demand over the coming decades. Click to enlarge.

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