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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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The IEA June 2022 Oil Market Report (OMR) forecasts world oil demand to reach 101.6 Non-OPEC+ is set to lead world supply growth through next year, adding 1.9 As for OPEC+, total oil output in 2023 may fall as embargoes and sanctions shut in Russian volumes and producers outside the Middle East suffer further declines.

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Enbridge to invest $6.2B in pipeline expansions for light oil from North Dakota and Canada

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billion program of pipeline expansions to carry an additional 400,000 barrels per day (bpd) of light oil from North Dakota and western Canada to refinery markets in Ontario, Quebec and the US Midwest. billion investment rounds out our suite of major crude oil new market access initiatives for North American markets.

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Eni report: global oil reserves and oil production up in 2018 due to US

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Eni has released the 18 th edition of the World Oil, Gas and Renewables Review , the annual statistics report on oil, natural gas and renewables sources. The first volume of the report, the World Oil Review, is devoted to oil reserves, supply, demand, trade and prices with a special focus on crude oil quality and on refining industry.

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Saudi Arabia And Iran Reignite The Oil Price War

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The rivalry between Saudi Arabia and Iran is becoming increasingly evident in the oil pricing policies of the two large Middle Eastern producers. sanctions on Iranian oil. The Saudis are also cutting their prices to the prized Asian market to lure more customers as they increase supply. efforts to curb Iranian production.

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IHS Markit: 10 MMb/d of oil production cuts coming

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IHS Markit Crude Oil Markets service expects up to 10 MMb/d of world oil production will be cut or shut-in from April to June 2020 as oil storage fills up and output from financially strapped companies begins to fall. If oil cannot be sold or stored, it cannot be produced. Something has to give. And it will.

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ExxonMobil predicts peak in light-duty vehicle liquid fuels ~2030, but ongoing role for oil in the mix

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At the same time, total miles traveled per year by cars, sport utility vehicles (SUVs) and light trucks will increase about 60%, reaching about 14 trillion in 2040. As personal mobility increases, average new-car fuel economy (including SUVs and light trucks) will improve as well, rising from about 30 miles per gallon (7.83

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Today’s Stunted Oil Prices Could Cause Oil Price Shock In 2020

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As oil prices remain unsteady and OPEC continues to make headlines every hour, the world is focused on oil’s immediate future. In a speech made at the Association of International Petroleum Negotiators’ 2017 International Petroleum Summit, Johnston laid out his concerns for the future of oil. oil may not be able to fill.