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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.

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2016 Ford Explorer SUV replaces 2.0L EcoBoost with new 2.3L EcoBoost unit; more power and torque, same fuel economy expected

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The new 2016 Ford Explorer SUV is making its global debut today at Los Angeles Auto Show with a new available 2.3-liter EcoBoost four-cylinder it replaces, with no compromise in fuel economy anticipated. liter EcoBoost employs an active oil control system to optimize pressure when less fluid is needed.

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Opinion: How Much Longer Can OPEC Hold Out?

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With its headquarters in Vienna, Austria, one of the mandates of 12-member OPEC is to “ensure the stabilization of oil markets in order to secure an efficient, economic and regular supply of petroleum to consumers, a steady income to producers, and a fair return on capital for those investing in the petroleum industry.” Venezuela’s Woes.

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IHS Automotive forecasts 88.6M unit global light vehicle market in 2015; 2.4% growth

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IHS Automotive forecasts global automotive sales for 2015 to reach 88.6 North America continues to be an impetus to global light vehicle demand levels. Uncertainty lingers over Argentina, Brazil, Chile and Venezuela for 2015. million, an increase of 2.4% North America. The year preliminarily closed with 5.34

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Opinion: Oil Market ShowdownCan Russia Outlast The Saudis?

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November 27, oil consuming countries will celebrate the first anniversary of the Saudi decision to let market forces determine prices. Venezuela, an OPEC member, has even proposed an emergency summit meeting. This apparent bravado notwithstanding, the two countries’ entry into the low-price Crudedome is ravaging their economies.

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Opinion: Is Russia Plotting To Bring Down OPEC?

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Energy is the foundation of Russia, its economy, its government, and its political system. 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 ).

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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. billion vs. $1.6 billion) and $1 billion ($2.5