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The Next Oil Price Spike May Cripple The Industry

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Two diametrically opposed views dominate the current debate about where the oil price is heading. On the other hand, however, there is the view that the price of oil is set to explode, primarily due to underinvestment in the upkeep of brownfields , development of greenfields , and exploration for new resources.

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EIA expects increased US crude oil production, with continued high petroleum prices in 2022

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The US Energy Information Administration (EIA) forecasts that US crude oil production will average 11.9 Despite the increases in production, EIA expects the Brent crude oil price to remain above $100 per barrel this year, according to the agency’s May 2022 Short-Term Energy Outlook (STEO). and by 1.5% in summer 2021.

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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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The IEA June 2022 Oil Market Report (OMR) forecasts world oil demand to reach 101.6 While higher prices and a weaker economic outlook are moderating consumption increases, a resurgent China will drive gains next year, with growth accelerating from 1.8 mb/d in 2023, according to the forecast. mb/d in 2022 to 2.2

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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. oil may not be able to fill. Eurasia Group forecasts about 7 million barrels per day (MMbbl/d) of new crude supply by 2022. by Haley Zaremba for Oilprice.com.

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Report suggests low-speed electric vehicles could affect Chinese demand for gasoline and disrupt oil prices worldwide

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Low-speed electric vehicles (LSEVs) could reduce China’s demand for gasoline and, in turn, impact global oil prices, according to a new issue brief by an expert in the Center for Energy Studies at Rice University’s Baker Institute for Public Policy. “

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Why Is The Shale Industry Still Not Profitable?

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Part of the reason for that is rising oil prices, as well as a flattening of the futures curve. Indeed, recently WTI and Brent have showed a strong trend toward backwardation—in which longer-dated prices trade lower than near-term. But the lack of profitability remains a significant problem for the shale industry.

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EIA expects global consumption of liquid fuels to surpass 2019 levels in 2022

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In the EIA forecast, global consumption of liquid fuels rises by an additional 3.7 EIA forecasts US liquid fuels consumption will rise to 19.6 EIA forecasts US liquid fuels consumption will rise to 19.6 US regular gasoline retail prices averaged $2.78 In June, monthly retail gasoline prices averaged $3.06/gal,

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