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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 mb/d in 2023, according to the forecast. 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. mb/d in 2022 to 2.2

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Woodside approves investment in $7.2B Trion development in deepwater Gulf of Mexico; first oil in 2028

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First oil is targeted for 2028. BHP Petroleum acquired an interest in 2017 which subsequently became part of Woodside’s portfolio in 2022. Trion is a greenfield development that would represent the first oil production from Mexico’s deepwater. The forecast total capital expenditure is US$7.2 billion (US$4.8

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EIA forecasts US crude oil production rate to break record high in 2018 and again in 2019; 10.3 and 10.8 million b/d

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In its latest edition of the Short-Term Energy Outlook , the US Energy Information Administration (EIA) forecasts that US crude oil production will average 10.3 EIA also forecasts that 2019 crude oil production will rise further to an average of 10.8 US crude oil production averaged an estimated 9.3 million b/d.

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EIA: Permian region expected to drive US crude oil production growth through 2019

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The US Energy Information Administration (EIA) August Short-Term Energy Outlook (STEO) forecasts that US crude oil production will average 10.7 If realized, both of these forecast levels would surpass the previous record of 9.6 This national increase is almost entirely driven by tight oil. million b/d in 2019.

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IEA: record oil output from US, Brazil, Canada and Norway to keep global markets well supplied

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Oil production growth from the United States, Brazil, Canada and Norway can keep the world well supplied, more than meeting global oil demand growth through 2020, but more investment will be needed to boost output after that, according to the International Energy Agency’s latest annual report on oil markets. mb/d in 2017.

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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.

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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.