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Oil price tumbles after OPEC releases 2015 forecast

Green Car Congress

The demand for oil in 2015 will drop to its lowest level since 2002 because of an oversupply of crude and stagnant economies in China and Europe, according to OPEC’s latest forecast. 27, OPEC refused to lower its production levels below 30 million barrels a day, adding to the oil glut that started with the US boom in high-quality shale oil.

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S&P Global Commodity Insights raises 10-year production outlook for Canadian oil sands

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Higher crude prices and continued optimization improvements have driven the first upward revision to the S&P Global Commodity Insights 10-year oil sands production outlook in more than half a decade. Higher oil prices have driven record returns for the Canadian oil sands.

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IHS Markit: US oil production growth heading for a major slowdown, as capital discipline and weak prices play out

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US shale production—the chief source of rapid growth that made the United States the world’s largest oil producer—is slowing down fast, says a new report by IHS Markit. The combination of closed capital markets and weak prices are pulling cash out of the system. —Raoul LeBlanc. —Raoul LeBlanc.

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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 High oil prices have contributed to steady crude oil exports recently.

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US average retail gasoline prices ended 2017 lower than they started

Green Car Congress

US regular retail gasoline prices averaged $2.72 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). gal at least once in 2018. gal to $2.91/gal

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Novelis increases prices for automotive and specialty aluminum sheet products in North America

Green Car Congress

Novelis, the world leader in aluminum rolling and recycling, announced price increases on its North American Automotive and Specialty aluminum sheet products for all new orders effective immediately. The price for 6xxx and 5xxx series automotive alloys is going up by $0.06/lb. 1xxx and 3xxx series alloys are moving up by $0.05/lb

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

Green Car Congress

Audi is now investing €150 million (US$200 million) in its new production facilities there. To achieve that target, the company is making large investments at its large production sites in Germany and Hungary and is significantly expanding its production network outside Europe.

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