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Platts Survey: OPEC pumps 31.28M barrels of crude per day in June; highest since Aug 2012

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million barrels per day (b/d) in June, up 170,000 b/d from May and the fourth consecutive monthly increase since February, as Saudi Arabia and Iraq pushed out more oil, a Platts survey of OPEC and oil industry officials and analysts showed Monday. As well as Basrah Light, Iraq is now exporting the newly-introduced Basrah Heavy crude oil.

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Opinion: Is Russia Plotting To Bring Down OPEC?

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The European Commission, the European Union’s executive body, has refused to bless Gazprom’s proposed 55 bcm/year Nord Stream 2 natural gas pipeline project, citing existing surplus Gazprom pipeline capacity into Europe and insufficient future demand for Russian natural gas. Live by Energy…. The emergence of the U.S.,

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GECF: more than a quarter of 2050 natural gas supply untapped

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To this end, the GECF Secretary General reiterated the GECF’s readiness to support the Turkmen industry as it undergoes transformation on the back of the future energy trends, digitalization, and climate action.

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Opinion: How Much Longer Can OPEC Hold Out?

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Iraq’s Issues. After Saudi Arabia, Iraq is the biggest crude oil producer in OPEC. According to the EIA, these cuts would be helpful for OPEC members such as Venezuela, Nigeria, Iraq and Iran as reduced OPEC supply and the corresponding increase in oil price would safeguard their uncertain future economic growth.

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The Oil War Is Only Just Getting Started

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Commenting on OPEC’s current and future relevance and influence on the oil markets, Wood Mackenzie said in an analysis last week: “ The group may still be able to control oil prices to a limited degree, but the benefits of that control will accrue to parties outside the cartel.

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

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CME Brent oil futures project continuity: as of August 18, 2015, CME Brent futures projected the price remaining below $60/bbl until June 2017. Are the futures market, CNBC’s oil traders, analysts, and major fund investors, and others, being lulled into an unjustified consensus? percentage points.

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Opinion: The Saudi Oil Price War Is Backfiring

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India, which was earlier importing most of its crude oil from Saudi Arabia, is now changing its strategy and buying more crude oil from Nigeria, Iraq, Mexico and Venezuela. He is author of “Oil—Past, present, future—An Indian Perspective”. Source: [link].