Remove 2016 Remove Iran Remove Production Remove Supplies
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What Does The Next OPEC Meeting Have In Store?

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The next OPEC meeting on the 2nd of June will act as little more than a forum for continued altercations between Saudi Arabia and Iran. OPEC interactions have become a direct altercation between Saudi Arabia and Iran, with the remaining members reduced to mere observers. There will always be a need for additional production.

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The 5 Countries That Could Push Oil Prices Up

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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. The most near-term supply risk comes from Iraq. The danger to Iran is a return of U.S. Iran probably won’t pose a supply risk to the market, at least not this year. bank Citi said.

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Opinion: Is Russia Plotting To Bring Down OPEC?

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Russia supplied about 30 percent (146.6 The Saudi decision to let the market set prices and to pursue market share, has led to steep declines in crude and petroleum product prices. in 2015 and 2016 respectively). in 2015 and 2016 respectively). bcm) of Europe’s natural gas in 2014, and about 25 percent of its crude (3.5

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Day Of Reckoning For US Shale Will Have To Wait

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In fact, Jeffries sees the spring of 2016 as a more critical deadline for struggling drillers hoping to keep their credit lines open. “We Kicking the can means that production may not fall as fast as expected, which will mean oil prices may not begin to stage a rally as quickly as some had hoped.

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Opinion: The Current Oil Price Rally Is Reaching Its Limits

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But the rally could be reaching its limits, at least temporarily, as persistent oversupply and the prospect of new shale production caps any potential price increase. US oil production has steadily lost ground over the past two quarters, with production falling more than a half million barrels per day since hitting a peak at nearly 9.7

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Opinion: Oil Megaprojects Won’t Stay On The Shelf For Long

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For years, as conventional oil reserves depleted and became increasingly hard to find, oil companies ventured into far-flung locales to find new sources of production. Production from an average shale well is a fraction of a deepwater well, for example, and output also suffers from dramatically steeper decline rates compared to offshore.

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Opinion: Saudis Could Face An Open Revolt At Next OPEC Meeting

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For Iran, the only other OPEC country for which the IEA provides domestic demand data, the increase in exports, 0.7 In both the United States and Russia, each of which produces roughly as much as Saudi Arabia, output increased in 2015 rather than decreasing, and will continue to increase in 2016 in the U.S. percent in 2016.