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EIA expects continued high prices for diesel and home heating oils

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The US Energy Information Administration (EIA) expects that low inventories of distillate fuels, which are primarily consumed as diesel fuel and heating oil, will lead to high prices through early 2023. Inventories are just one part of the supply equation for diesel and other distillates. EIA forecasts Russia will produce 9.3

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EIA forecasts rising global oil production will limit price increases

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In the June Short-Term Energy Outlook (STEO), the US Energy Information Administration (EIA) forecasts that rising global production of petroleum and other liquid fuels (driven by OPEC, Russia, and the United States) will limit price increases for global crude oil benchmarks Brent and West Texas Intermediate (WTI).

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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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IHS Markit says outlook for crude oil prices strengthens through 2021

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Oil markets have returned to relatively stable ground with Brent prices within a narrow $40-$45 per barrel range and could conclusively pass the $50 per barrel mark in the second half of 2021, according to Roger Diwan and the IHS Markit Energy Advisory Service. bbl in 2020 and $49.25/bbl bbl in 2021—up $7.09/bbl bbl and $5.25/bbl,

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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 Non-OPEC+ is set to lead world supply growth through next year, adding 1.9

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GlobalData: Russian nickel sanctions would slow electric vehicle adoption

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The data and analytics company notes that such actions will simply mean Western countries will be more reliant on Russian oil and gas for longer. According to GlobalData’s Mining Commodity Analyzer , Russia was the third-largest producer of nickel in 2021, producing more than 200,000 tons. Trading had yet to resume as of 10 March.

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Opinion: Oil Market ShowdownCan Russia Outlast The Saudis?

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November 27, oil consuming countries will celebrate the first anniversary of the Saudi decision to let market forces determine prices. This decision set crude prices on a downward path. Subsequently, to defend market share, the Saudis increased production, which exacerbated market oversupply and further pressured prices.

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