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EIA forecasts crude oil prices will decline through 2023

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Global oil consumption outpaced oil production for the six consecutive quarters ending with the fourth quarter of 2021 (4Q21), which has led to persistent withdrawals from global oil inventories and significant increases in crude oil prices.

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IHS Markit: oil price collapse will change trajectory of North American gas supply

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The trajectory of North American gas supply is set to change radically as a result of the fall in oil prices that has occurred due to COVID-19 and the breakdown in production cooperation between OPEC and Russia, according to IHS Markit. Combined, the Bakken and Eagle Ford are producing nearly 3 MMbbl/d of oil and 7.2

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EIA expects record global petroleum consumption in 2024, with lower crude oil prices

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EIA expects crude oil prices to decrease through 2023 and 2024, even as petroleum consumption increases, largely because growth in crude oil production in the United States and abroad will continue to increase over the next two years. Areas of uncertainty include Russian oil supply and OPEC production.

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How crude-oil prices influence gasoline prices

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Gasoline is one of the products refined from crude oil. Thus, the price of crude oil should have a strong influence on the price of gasoline. However, the retail price of gasoline includes other costs as well. Gasoline prices are also influenced by gasoline demand relative to gasoline supply.

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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. In a speech made at the Association of International Petroleum Negotiators’ 2017 International Petroleum Summit, Johnston laid out his concerns for the future of oil. oil may not be able to fill.

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Tesla’s production expansion, surging oil prices bring stock upgrade from Daiwa Securities

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Tesla’s ( NASDAQ: TSLA ) plans to expand its production capacity, along with other factors like surging oil prices that could sway consumers to electric vehicles, have contributed to Daiwa Securities analysts upgrading their outlook on the automaker’s stock. Disclosure: Joey Klender is a TSLA Shareholder.

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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.