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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.

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The Next Oil Price Spike May Cripple The Industry

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Two diametrically opposed views dominate the current debate about where the oil price is heading. But, WoodMackenzie says, many of these still-to-be-launched projects are uneconomical at oil prices in the $50s per barrel, meaning that they should not be expected to get the all-clear anytime soon. Since (non-U.S.

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US Shale Is Immune To An Oil Price Crash In 2017

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shale in particular—is effectively capping the oil price gains from that agreement. Four months after the OPEC/NOPEC deal took effect, oil prices dropped to the levels preceding the agreement, amid concerns over still stubbornly high inventories and rising U.S. oil production,” the consultancy noted. “In

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Eni report: global oil reserves and oil production up in 2018 due to US

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In 2018, global oil reserves rose slightly (+0.4%), mainly due to growth in the US. Source: Eni World Oil Review 2019. 2018 recorded an overall growth in oil production of 2.5 Asia Pacific’s oil dependence continues to grow, ranking first in terms of deficit. also rose in Brazil and Norway.

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3 Years Of Painful Cuts Sets Oil Markets Up For Serious Supply Crunch

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Oil companies are making painful cuts to spending, which will translate into much lower production than expected in the years ahead. That widens to more than a million barrels per day in both 2017 and 2018. To be sure, there are extremely large volumes of oil sitting in storage, which will take a few years to work through.

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US average retail gasoline prices ended 2017 lower than they started

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US regular retail gasoline prices averaged $2.72 per gallon (gal) in 2018, 30 cents/gal (13%) higher than in 2017 and 57 cents/gal higher than in 2016. In 5 of the 10 cities for which EIA collects weekly retail price data, gasoline prices exceeded $3.00/gal gal at least once in 2018. gal to $2.91/gal gal to $3.01/gal

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Roskill: Molybdenum demand to drop by more than 8% in 2020

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The molybdenum market enjoyed three years of growing demand between 2016 and 2018, but macroeconomic concerns and a slower steel market resulted in a 2.3% —an identical rate of growth as 2018. These ‘moly steel’ alloys are used in parts of engines. Consequently, molybdenum prices came under downward pressure.

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