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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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Assuming Libya rebounds from a steep drop, the bloc’s production could increase 2.6 Global refining capacity is set to expand by 1 mb/d in 2022 and 1.6 Following nearly two years of declines, observed global oil inventories increased by 77 mb in April. mb/d this year, eroding its spare capacity cushion. mb/d and 1.9

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

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Interestingly, also, the Saudis increased their share of OPEC average daily output in the first half of 2015 over 2014 average daily volume—and their share of average daily global output. percent, during the same period; during the same period, OPEC output as a share of global output declined slightly, from 39.5 percent from 10.2

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Opinion: Is Russia Plotting To Bring Down OPEC?

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Novatek and its partners Total and Chinese National Petroleum Company still lack $15 billion of the $27 billion needed to finance the Yamal LNG plant. from a market for Russian crude and natural gas (via LNG) to a global competitor. into a major (potential) LNG competitor in global LNG import markets, and, via the U.S.

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Strong Dollar Could Cap Oil Prices

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The dollar has gained more than 8 percent against the Chinese currency since March. This really shows the folly of waging trade war,” said Zhang Bin, an economist at the Chinese Academy of Social Sciences, told the FT. The oil supply outages in Venezuela, Libya and Iran could yet drive oil prices much higher.