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Production of crude oil as a percentage of proved reserves: Recent worldwide and US trends

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In this analysis, I examined the relation between crude-oil production and crude-oil reserves in the world overall and in the United States alone. The variable of interest was the amount of crude oil produced as a percentage of proved reserves of crude oil. For the world, production of crude oil in 1980 represented 3.4%

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Average gasoline prices in US up 13% in 2017 from 2016, but lower than in 2015

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per gallon in 2017, 27 cents/gal (13%) higher than in 2016, but two cents/gal less than in 2015, according to the US Energy Information Administration (EIA). Higher crude oil prices in 2017 contributed to higher gasoline prices. gal at least once in 2017, and prices in every city except Houston exceeded $2.50/gal

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ExxonMobil makes final investment decision on fourth Guyana offshore project; $10B for Yellowtail development

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The company’s fourth, and largest, project in the Stabroek Block is expected to produce approximately 250,000 barrels of oil per day starting in 2025. Yellowtail production from the ONE GUYANA floating production storage and offloading (FPSO) vessel will develop an estimated resource of more than 900 million barrels of oil.

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US average retail gasoline prices ended 2017 lower than they started

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per gallon (gal) in 2018, 30 cents/gal (13%) higher than in 2017 and 57 cents/gal higher than in 2016. However, a rapid price decline beginning in October led to US average regular gasoline prices ending the year lower than they began for the first time since 2015, according to the US Energy Information Administration (EIA).

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ExxonMobil announces 6th oil discovery offshore Guyana with Ranger-1; Guyana may move from non-producer to regional powerhouse

Oil (..)

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Supply Crunch Or Oil Glut: Investment Banks Can’t Agree

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shale has thrown in another unknown in the mix of factors driving the price of oil. This year, shale output forecasts combine with OPEC’s production cuts, geopolitical factors, and unexpected outages to further complicate supply/demand and oil price forecasts by Wall Street’s major investment banks. In recent years, U.S. shale output.

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ExxonMobil announces 6th oil discovery offshore Guyana with Ranger-1; Guyana may move from non-producer to regional powerhouse

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ExxonMobil Corporation announced positive results from its Ranger-1 exploration well, marking ExxonMobil’s sixth oil discovery offshore Guyana since 2015. billion recoverable oil-equivalent barrels. The country was under explored and no significant oil discoveries were made until 2015. Source: ExxonMobil.

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