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API reports record US petroleum production in April: 10.543 million b/d; strongest April demand since 2007

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Strong global demand raised international oil prices by more than domestic ones. Domestic WTI crude oil prices averaged $66.25 Meanwhile, international Brent crude oil prices continued to increase by more—8.5 per barrel, which reinforces global economic and oil demand strength. MBD in April.

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2020 Thanksgiving week gasoline consumption in US lowest since 1997

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Year-on-year comparisons are even more significant at the regional level, with some regions seeing declines of 20% or more from Thanksgiving Week 2019. The data speaks to a major problem for the petroleum industry and oil prices as it recovers from unprecedented demand declines for most of 2020. and 1.1%, respectively.

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Increase in US rig count will not cap oil prices

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The impact of rising oil prices on North American light tight oil (LTO) production is said to be a “Catch 22”, the title of Joseph Heller’s popular 1961 novel set in WWII. Too many analysts continue to believe drilling and service has the same problem with rising oil prices. by David Yager for Oilprice.com.

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The $32-Trillion Push To Disrupt The Entire Oil Industry

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The latter is partly caused by “global warming constraints” and lower oil prices in general. The first casualties are falling in Europe, mainly the UK, where 16 companies went bankrupt in 2018, in comparison to zero in 2012. British accountancy firm Moore Stephenson stated that lower prices were the main cause.

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The Real Reason for USA based Economic Recessions.

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There have been 5 recession since then until now and I wanted to see if Oil had anything to do with them, because deep in my heart, I knew the most recent recession was directly caused by the oil price spikes that started in 2007 and peaked in 2008. This increase in oil prices again pushed the economy into a recession.

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BNEF forecasts EVs to be 35% of global new car sales by 2040; cost of ownership below conventional-fuel vehicles by 2025

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According to Salim Morsy, senior analyst and author of the study, the central forecast is based on the crude oil price recovering to $50/barrel, and then trending back up to $70 or higher by 2040. However, that cost comparison is set to change radically in the 2020s. —Salim Morsy.

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Study finds that dry-feed gasification for coal-to-liquids is more efficient, lower-emitting and cheaper than slurry-feed; CCS cost-effective for reduction of CO2

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Comparison of coal consumption and CO 2 emissions for co-production and separate production of liquids and power. Even with CCS, the liquid product costs are comparable to recent crude oil prices. For a liquids-only configuration, CCS is a cheaper option when the CO 2 price exceeds $12/tonne. Click to enlarge.

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