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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. With this kind of impending discrepancy between supply and demand, the industry needs to start looking for new sources of oil, and quickly. by Haley Zaremba for Oilprice.com.

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BP Statistical Review finds global oil share down for 12th year in a row, coal share up to highest level since 1969; renewables at 2%

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seen in 2010, according to the newly released BP Statistical Review of World Energy, 2012. Emerging economies accounted for all of the net growth, with OECD demand falling for the third time in the last four years, led by a sharp decline in Japan. in the emerging economies. Global energy consumption grew by 2.5%

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BP Energy Outlook 2030 sees emerging economies leading energy growth to 2030; global CO2 emissions from energy well above IEA 450 scenario

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World energy growth over the next twenty years is expected to be dominated by emerging economies such as China, India, Russia and Brazil while improvements in energy efficiency measures are set to accelerate, according to BP’s latest projection of energy trends, the BP Energy Outlook 2030. Click to enlarge. Coal will increase by 1.2%

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IHS Markit: global commercial vehicle production to drop 22% in 2020 in wake of COVID-19

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Within the US , an analysis of weekly new vehicle registration statistics, available sooner than full-month production figures, confirms the expected direction of the market and shows a strong fall in the last two weeks of March, with a sizable decline as the COVID-19 situation evolved around the US.

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Opinion: Expect A Wave Of Consolidation In The Oil Industry

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This also demonstrates how the OPEC strategy of maintaining an oil price ceiling is affecting US E&P companies, forcing a consolidation which I believe will be unprecedented in size and scope. Expect the dollar to weaken considerably, breaching the 2015 lows thus supporting oil prices now and into 2016.

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Opinion: Is Russia Plotting To Bring Down OPEC?

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Energy is the foundation of Russia, its economy, its government, and its political system. Even a casual glance at the IMF’s World Economic Outlook statistics for Russia shows the tight correlation since 1992 between GDP growth on the one hand and oil and gas output, exports, and prices on the other (economic series available here ).

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RAND reports suggest US DoD use less petroleum fuel to deal with high prices, not count on alternatives

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A consensus is developing that global oil production is less likely to come to a sharp peak and more likely to hit a plateau that might continue for some decades and then slowly decline. In response to these high prices, demand will moderate as petroleum consumers look for transportation options that are more energy efficient.

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