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The 5 Countries That Could Push Oil Prices Up

Green Car Congress

Oil prices appear to be stuck in the $50s per barrel, but that doesn’t mean there aren’t serious supply risks to the market. An unexpected disruption could occur at any moment, as has happened in the past, leading to a sudden and sharp jump in prices. mb/d, meaning Libya won't be able to bring output back to pre-war levels of 1.6

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bp Statistical Review shows 4.5% drop in primary energy consumption in 2020; mainly driven by oil

Green Car Congress

Natural gas prices declined to multi-year lows; however, the share of gas in primary energy continued to rise, reaching a record high of 24.7%. Country wise, Russia (-1 million b/d), Libya (-920,000 b/d) and Saudi Arabia (-790,000 b/d). The oil price (Dated Brent) averaged $41.84/bbl million b/d in 2020 driven by both OPEC (-4.3

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Biden authorizes release of more than 180M barrels of oil from Strategic Petroleum Reserve; 1M bpd for 6 months

Green Car Congress

Biden said that his administration would restock the reserve when prices are lower. Biden called the latest release a “wartime bridge” to increase oil supply until domestic production ramps up later this year. The release is by far the largest yet from the national reserves. Background. 1 March 2022 IEA Coordinated Release.

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Nissan to test African demand for its e-Power hybrid vehicle – ET Auto

Baua Electric

This year Nissan will export the South African built Navara pickup trucks to new markets of Algeria, Libya, Sudan, Tunisia and Egypt, Nissan Africa product Marketing Director Stefan Haasbroek said. According to Nissan, elsewhere in the world the global motorization average is 182 vehicles per 1,000 people versus 42 per 1,000 in Africa.

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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 Assuming Libya rebounds from a steep drop, the bloc’s production could increase 2.6 The IEA June 2022 Oil Market Report (OMR) forecasts world oil demand to reach 101.6

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The Saudi Dilemma: To Cut Or Not To Cut

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To cut and push up prices or not to cut and preserve market share, this is the question that Saudi Arabia is facing ahead of this year’s December OPEC meeting. million barrels daily, including from Russia, to reverse the free fall of oil prices. Saudi Arabia cannot afford another slump in oil prices,” he warns. “It Kemp agrees.

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US Shale Is Now Cash Flow Neutral

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Oil prices are probably already high enough to spark a rebound in shale production. By the third quarter, oil prices had climbed back to above $40 and traded at around $50 per barrel for some time, replenishing some lost revenue. He estimates that OPEC’s cuts could succeed in pushing oil prices sustainably up to $55 per barrel.