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Biden authorizes release of more than 180M barrels of oil from Strategic Petroleum Reserve; 1M bpd for 6 months

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In an effort to address the rapidly increasing cost of gasoline, President Biden authorized the release of 1 million barrels of oil per day for the next six months—more than 180 million barrels—from the Strategic Petroleum Reserve (SPR). million barrels of sweet and 200,000 barrels of sour crude oil. President George W.

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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 Non-OPEC+ is set to lead world supply growth through next year, adding 1.9 As for OPEC+, total oil output in 2023 may fall as embargoes and sanctions shut in Russian volumes and producers outside the Middle East suffer further declines.

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The 5 Countries That Could Push Oil Prices Up

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Oil prices appear to be stuck in the $50s per barrel, but that doesn’t mean there aren’t serious supply risks to the market. Geopolitical tension has been largely irrelevant since the collapse of oil prices in 2014, but it’s making a return now that cracks have emerged in some key oil-producing nations. bank Citi said.

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IEA: non-OPEC oil supply tops 43 mb/d for first time in decades; global demand to reach 92.4 mb/d in 2014

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The International Energy Agency’s (IEA’s) Oil Market Report (OMR) for December raised the estimate of global oil demand for 2013 by 130,000 barrels per day (130 kb/d) to 91.2 Global oil supplies increased by 310 kb/d in November to 92.3 Year-on-year, November supplies rose by 810 kb/d, as a 1.9 mb/d in 2014.

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The Technical Failure That Could Clear The Oil Glut In A Matter Of Weeks

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OPEC exports have come under pressure this week from technical threats to oil fields, with Saudi Arabia’s Manifa problems grabbing the headlines. At the same time, Saudi Arabia’s export volumes have been hit by high local summer demand for crude oil and products. by Cyril Widdershoven for Oilprice.com.

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

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Senturin made his remarks during the 25 th Oil & Gas of Turkmenistan Conference. According to Sentyurin, around 80% of the natural gas production by mid-century will stem from new projects, highlighting the importance of continued investment in upstream. —Secretary General Sentyurin.

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IEA March Oil Market Report revises 2015 demand forecast upward

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out in the second quarter of 2014, global oil demand growth has since steadily risen, with year?on?year mb/d for the current quarter, according to the IEA Oil Market Report for March. Global supply rose by 1.3 expected US crude supply, raising the 2015 North American outlook. Having bottomed?out mb/d gain in non?OPEC

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