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IHS Markit: US oil producers to halt 1.75 MMb/d per day of production; Canada to cut 0.5 MMb/d

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Due to the collapse in oil prices, IHS Markit expects US producers are in the process of curtailing about 1.75 The oil market fear that characterized March and the extreme price pressure that producers felt in April have galvanized producers across North America into unprecedented action. However, nearly 1.4

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IHS Markit: Canadian oil sands production exceeds pre-pandemic levels, but lower than prior projections

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Canadian oil sands production has fully recovered from last year’s “COVID-19 Shock”—the largest contraction of upstream production in Canadian history—and has exceeded pre-pandemic levels. The latest forecast by the IHS Markit Oil Sands Dialogue expects Canadian oil sands production to reach 3.6 MMbd in 2030.

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Government of Alberta takes steps to encourage investment in new conventional oil wells

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The Government of Alberta, Canada, is now allowing curtailed operators to drill new conventional oil wells without being restricted by production limits. Oil production in Alberta in September 2019 was 16.75 Non-conventional (or oil sands) production, which constituted 83.8% —Sonya Savage, Minister of Energy.

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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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CAPP forecasts oil sands development still drives steady Canadian oil production growth to 2030

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However, the new forecast represents a slowing of future oil sands production growth compared to the predictions of last year’s forecast. According to CAPP’s 2014 Crude Oil Forecast, Markets and Transportation , total Canadian crude oil production will increase to 6.4 CAPP forecast. Click to enlarge. million barrels per day.

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2019 NTEA Fleet Purchasing Outlook reveals continued strong demand for biodiesel in diesel trucks

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New research released by NTEA – The Association for the Work Truck Industry confirms that fleets across the country are increasingly relying on biodiesel for their existing and new diesel vehicles. It is highly likely that clean energy solutions will remain relevant due to oil price instability.

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Harvard Kennedy School researcher forecasts sharp increase in world oil production capacity and risk of price collapse

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World oil production capacity to 2020 (crude oil and NGLs, excluding biofuels). Oil production capacity is surging in the United States and several other countries at such a fast pace that global oil output capacity could grow by nearly 20% from the current 93 million barrels per day to 110.6 Source: Maugeri 2012.

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