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US EIA: US crude oil production fell by 8% in 2020, the largest annual decrease on record

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The production decline resulted from reduced drilling activity related to low oil prices in 2020. In January 2020, US crude oil production reached a peak of 12.8 In March 2020, crude oil prices decreased because of the sudden drop in petroleum demand that resulted from the global response to the coronavirus (COVID-19) pandemic.

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EIA: US crude oil exports reached record levels in 2020 and remain high in 2021

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Despite volatility in global oil markets, US crude oil exports reached a record high in 2020, according to the US Energy Information Administration (EIA). As of 9 July 2021, US crude oil exports have averaged 3.00 The most recent four-week rolling average of US crude oil exports reached 3.51

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US Shale Is Immune To An Oil Price Crash In 2017

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shale in particular—is effectively capping the oil price gains from that agreement. Four months after the OPEC/NOPEC deal took effect, oil prices dropped to the levels preceding the agreement, amid concerns over still stubbornly high inventories and rising U.S.

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EIA projects world liquid fuels use to rise 38% by 2040, driven by growth in Asia and Middle East; transportation 92% of demand

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World markets for petroleum and other liquid fuels have entered a period of dynamic change in both supply and demand, the EIA noted, leading to its reassessment of its outlook for long-term global liquid fuels markets in IEO2014. Rising world oil prices attract investment in areas previously considered uneconomic.

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Annual global oil & gas capital expenditure to pass $1-trillion mark in 2012

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The new report— Oil & Gas Capital Expenditure Outlook, H1 2012 —forecasts that the total oil and gas capex will increase by 13.4% this year over the 2011 total of $916 billion, as oil companies intensify upstream operations across locations as diverse as offshore Brazil, the Gulf of Mexico and the Arctic Circle.

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BP approves revamped $9B Mad Dog Phase 2 project in the deepwater Gulf of Mexico; down from original $20B cost

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BP has sanctioned the $9-billion Mad Dog Phase 2 project in the United States, despite the current low oil price environment. Today, the leaner $9-billion project, which also includes capacity for water injection, is projected to be profitable at or below current oil prices.

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Eni report: global oil reserves and oil production up in 2018 due to US

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The first volume of the report, the World Oil Review, is devoted to oil reserves, supply, demand, trade and prices with a special focus on crude oil quality and on refining industry. In 2018, global oil reserves rose slightly (+0.4%), mainly due to growth in the US. also rose in Brazil and Norway.