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EIA: US crude oil exports reached record levels in 2020 and remain high in 2021

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In the summer of 2015, the United States and Mexico entered into an oil exchange agreement, and the restrictions on oil exports were fully lifted in December 2015. US crude oil exports have increased significantly since 2015 and have averaged around 3.00 As of 16 July, the WTI crude oil price averaged $2.82/b

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BP approves revamped $9B Mad Dog Phase 2 project in the deepwater Gulf of Mexico; down from original $20B cost

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BP has sanctioned the $9-billion Mad Dog Phase 2 project in the United States, despite the current low oil price environment. Today, the leaner $9-billion project, which also includes capacity for water injection, is projected to be profitable at or below current oil prices.

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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 For the APAC region in 2015, IHS forecasts that China’s economic growth will decelerate further, to 6.5% However, IHS Automotive analysts still expect light vehicle sales in China to grow by 7% in 2015 to 25.2 million, an increase of 2.4% from last year.

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Scotiabank forecasts 4% growth in global auto market in 2015 to 74M units, led by China

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2015 forecast share by region. In its latest Global Auto Report , Scotiabank forecasts record global car sales in 2015, with the total market advancing 4% over 2014, reaching more than 74 million units. Global growth will mainly be driven by China, where Scotiabank expects auto demand to grow 7% in 2015 to 19.36 million to 17.0

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Audi newly to begin production in Brazil in 2015; $200M investment in Curitiba

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In addition, by producing locally, Audi can avoid an additional tax of 30% and thus be active in the growing Brazilian market with competitive prices. The company also plans to produce cars in Mexico as of 2016. As a first step, Audi will produce the new A3 Sedan in Brazil starting in 2015.

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Saudis Expand Price War Downstream

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In June 2015, Saudi Arabia pumped a record 10.564 million barrels a day, a record level. The gross refining margin is nothing but the difference between the value of the refined products and price of the crude oil. In case of Saudi Arabia, the price of crude oil would be extremely low. per barrel in first quarter of 2015).

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Opinion: The Saudi Oil Price War Is Backfiring

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With record production of 10.564 million barrels per day in June 2015, Saudi Arabia has been one of the major driving forces behind the current oil price slump. The Saudis have already sparked an oil price war with the Asian refiners downstream by offering close to 2.8 Is Saudi Arabia losing the oil price war? “It