U.S. to lead global oil supply growth, no peak in oil demand in sight – IEA

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The United States will drive global oil supply growth over the next five years thanks to the remarkable strength of its shale industry, triggering a rapid transformation of world oil markets according to the International Energy Agency’s (IEA) annual oil market forecast. By the end of the forecast, oil exports from the United States will […]

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Global liquid fuels production to outpace demand: EIA

Global liquid fuels production is expected to exceed global consumption through 2020, the U.S. Energy Information Administration (EIA) said in its Short-Term Energy Outlook. EIA forecast that higher U.S. crude oil production growth and slightly lower global oil consumption will offset the short-term supply reductions. As a result, global petroleum liquids stocks will increase and […]

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Saudi Arabia needs $80-85 per barrel oil price to balance its 2019 Budget: IMF

OPEC’s biggest producer Saudi Arabia would need oil prices at US$80-85 per barrel in order to balance its 2019 budget, Jihad Azour, Director of the Middle East and Central Asia Department at the International Monetary Fund (IMF), told Reuters. Saudi Arabia’s officials, including Energy Minister Khalid al-Falih, don’t discuss publicly ‘targeted oil prices’ or a desired […]

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