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Harvard Kennedy School researcher forecasts sharp increase in world oil production capacity and risk of price collapse

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Oil production capacity is surging in the United States and several other countries at such a fast pace that global oil output capacity could grow by nearly 20% from the current 93 million barrels per day to 110.6 Such an increase in capacity could prompt a plunge or even a collapse in oil prices, he suggests.

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White House: OPEC+ oil production increases “simply not enough”

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On Wednesday, US National Security Advisor Jake Sullivan issued a statement calling on OPEC+ to increase oil production: While OPEC+ recently agreed to production increases, these increases will not fully offset previous production cuts that OPEC+ imposed during the pandemic until well into 2022.

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Opinion: Busting The “Canadian Bakken” Myth

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The financial pages of Canadian newspapers have been full of headlines lately announcing the potential of two large shale oil fields in the Northwest Territories said to contain enough oil to rival the Bakken Formation of North Dakota and Montana. Globally, their significance is harder to assess. on Friday, June 5 th.

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State Department issues Draft Supplemental Environmental Impact Statement on Keystone XL Pipeline: climate change impacts

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The oil sands’ GHG results do not necessarily represent the average or actual oil sands composition (i.e., the types and shares of oil sands-derived crudes) that would flow through the proposed pipeline. “.from times the length of the current proposal (1,384 miles), with nearly identical routes in Montana and South Dakota.

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State Department releases Keystone XL Final Supplemental Environmental Impact Statement

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Over the long term, lower-than-expected oil prices could affect the outlook for oil sands production, and in certain scenarios higher transportation costs resulting from pipeline constraints could exacerbate the impacts of low prices.

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