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IEA: non-OPEC oil supply tops 43 mb/d for first time in decades; global demand to reach 92.4 mb/d in 2014

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Global oil supplies increased by 310 kb/d in November to 92.3 Year-on-year, November supplies rose by 810 kb/d, as a 1.9 OPEC crude supply fell by 160 kb/d in November to 29.73 OPEC crude supply fell by 160 kb/d in November to 29.73 Global demand is now seen advancing by 1.2 mb/d in both 2013 and 2014, to reach 92.4

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The 5 Countries That Could Push Oil Prices Up

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Oil prices appear to be stuck in the $50s per barrel, but that doesn’t mean there aren’t serious supply risks to the market. The most near-term supply risk comes from Iraq. Iran probably won’t pose a supply risk to the market, at least not this year. by Nick Cunningham for Oilprice.com. bank Citi said.

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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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Non-OPEC+ is set to lead world supply growth through next year, adding 1.9 Assuming Libya rebounds from a steep drop, the bloc’s production could increase 2.6 Nevertheless, product markets are expected to remain tight, with a particular concern for diesel and kerosene supplies. mb/d of supply in 2022 and 1.8 mb/d and 1.9

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The Technical Failure That Could Clear The Oil Glut In A Matter Of Weeks

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Saudi Aramco CEO Amin Nasser, while addressing the World Petroleum Congress in Istanbul, stated that the outlook for oil supplies is “ increasingly worrying ”, due to a loss of $1 trillion ($1,000 billion) in investments last year. But the current production increases in Nigeria, Iraq and Libya, will most probably be temporary.

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Oil Prices Running Out Of Reasons To Rally

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The OPEC deal is slated to take oil off the market, while US drilling is expected to add new supply. It’s a good time to do maintenance on oil fields during production cuts,” Al-Fezaia said, noting that Kuwait will lower output from 2.89 The pace and magnitude of each trend will ultimately drive oil prices one way or the other.