Green Car Congress

SEPTEMBER 2, 2015

oil analyst cited in this article, who has tracked oil companies’ budgets for many years, estimates that Aramco and its Kuwaiti and UAE counterparts will increase their investment in oil exploration and production in 2015 by 4.5 as the drop in oil prices over the last year has put a strain on the nation’s finances.". percent to $38.1

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Green Car Congress

NOVEMBER 6, 2015

For years, as conventional oil reserves depleted and became increasingly hard to find, oil companies ventured into far-flung locales to find new sources of production. Production from an average shale well is a fraction of a deepwater well, for example, and output also suffers from dramatically steeper decline rates compared to offshore.

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Green Car Congress

AUGUST 13, 2015

He argued that rapidly growing production outside OPEC made the existing status quo unviable, and that lower prices in the short term would increase prices in the longer term through reduced investment and ultimately benefit all OPEC members. Saudi Arabia increased production by 6.8 million barrels per day in June. percent in 2016.

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