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Could be interesting!

lse:sle

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https://sweetcrudereports.com/oil-gas-book-has-an-eye-on-the-future/


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OPEC+ are just likely to give market share away to USA at a time when some people are beginning to think the oil years may be drawing to a close. Its reckoned USA could still up production as far as 17m b/pd if the price rises high enough (a long run of $70 or above for WTI, say).

OPEC know that they may only have a few years left to make their money from oil and Saudi in particular recognise this as they drive to diversify their economy. Indeed, that is what the Aramco float is all about - to bring in cash to develop other industries (a sensible move, imo).

So, I’m dubious about how much OPEC+ will be prepared to cut, and how much Saudi will be prepared to cut beyond their share as they always have to in order to see cut targets met.

Ironically their best friends could end up being the environmentalists in the USA that fight new fields and pipelines endlessly through the courts.


#808

https://sweetcrudereports.com/oil-rises-more-than-1-on-u-s-china-hopes-and-improved-outlook/


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