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Opinion: How Much Longer Can OPEC Hold Out?

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With the huge reduction in its revenues and growing discomfort among its members such as Venezuela, Libya and Nigeria over its current production levels, is OPEC really getting weaker? Containing some of the largest proven oil and gas reserves in the world, Venezuela is one of the founding members of OPEC. Nigeria’s dilemma.

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The Technical Failure That Could Clear The Oil Glut In A Matter Of Weeks

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The skepticism shown by a majority of financial analysts and oil commentators about the real threat to global oil (and gas) production volumes was countered by the news that the production at Saudi Aramco’s main offshore oil field, Manifa, has been hit by technical problems. The Saudi situation is not different from its neighbors.

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Saudis Expand Price War Downstream

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The undisputed king of oil and gas is making some moves that could change the face of the global refining sector. The crude is so cheap it’s pretty much free for them, the margins are going to be massive. Indian refiners are now buying more crude oil from Nigeria, Iraq, Venezuela and Mexico. by Gaurav Agnihotri for Oilprice.com.

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Europe/US team: transitioning to a low-carbon world will create new rivalries, winners and losers

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Nigeria or Algeria cannot do the same for their oil industry. Petro-states are compensated to transition smoothly to a sustainable economy, avoiding a last-ditch attempt to flood the world with cheap oil and gas. Governments might link low-carbon technology with foreign and security policy, as they did with oil and gas.

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