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IEA March Oil Market Report revises 2015 demand forecast upward

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mb/d, as losses in Libya and Iraq offset higher supply from Saudi Arabia, Iran and Angola. OECD commercial stocks rose by a weaker?than?average Final December and preliminary current-quarter data show higher?than?expected expected US crude supply, raising the 2015 North American outlook. mb/d, above the group’s official 30 mb/d target.

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New EIA report boosts estimates of global recoverable shale oil resources 10-fold to 345 billion barrels

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The US Energy Information Administration (EIA) has released a new report that estimates that shale oil and shale gas resources in the United States and in 137 shale formations in 41 other countries represent 10% of the world’s crude oil and 32% of the world’s natural gas technically recoverable resources—i.e., Source: US EIA.

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Increase in US rig count will not cap oil prices

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The geological and commercial differences between the two couldn’t be more glaring. According to the Energy Information Administration (EIA) US oil production is down nearly 1 million b/d in the past year. He has been writing about the upstream oil and gas industry and energy policy and issues since 1979.