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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. An unexpected disruption could occur at any moment, as has happened in the past, leading to a sudden and sharp jump in prices. mb/d, meaning Libya won't be able to bring output back to pre-war levels of 1.6

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bp Statistical Review shows 4.5% drop in primary energy consumption in 2020; mainly driven by oil

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Natural gas prices declined to multi-year lows; however, the share of gas in primary energy continued to rise, reaching a record high of 24.7%. Country wise, Russia (-1 million b/d), Libya (-920,000 b/d) and Saudi Arabia (-790,000 b/d). The oil price (Dated Brent) averaged $41.84/bbl million b/d in 2020 driven by both OPEC (-4.3

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Oil Prices Running Out Of Reasons To Rally

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Oil prices faltered at the start of the second week of the year, as fears set in about a rapid rebound in US shale production. The gains in the rig count come even as oil prices have held steady in the mid- to low-$50s per barrel. The pace and magnitude of each trend will ultimately drive oil prices one way or the other.

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Biden authorizes release of more than 180M barrels of oil from Strategic Petroleum Reserve; 1M bpd for 6 months

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Biden said that his administration would restock the reserve when prices are lower. Biden called the latest release a “wartime bridge” to increase oil supply until domestic production ramps up later this year. The release is by far the largest yet from the national reserves. Background. 1 March 2022 IEA Coordinated Release.

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Increase in US rig count will not cap oil prices

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The impact of rising oil prices on North American light tight oil (LTO) production is said to be a “Catch 22”, the title of Joseph Heller’s popular 1961 novel set in WWII. Too many analysts continue to believe drilling and service has the same problem with rising oil prices. by David Yager for Oilprice.com.

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The Saudi Dilemma: To Cut Or Not To Cut

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To cut and push up prices or not to cut and preserve market share, this is the question that Saudi Arabia is facing ahead of this year’s December OPEC meeting. million barrels daily, including from Russia, to reverse the free fall of oil prices. Saudi Arabia cannot afford another slump in oil prices,” he warns. “It Kemp agrees.

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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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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 Assuming Libya rebounds from a steep drop, the bloc’s production could increase 2.6 The IEA June 2022 Oil Market Report (OMR) forecasts world oil demand to reach 101.6

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