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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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    Energy Agency: America will overtake Russia as the largest oil producer in 2019

    Rocky
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    Energy Agency: America will overtake Russia as the largest oil producer in 2019 Empty Energy Agency: America will overtake Russia as the largest oil producer in 2019

    Post by Rocky Tue Feb 27, 2018 3:40 am

    Energy Agency: America will overtake Russia as the largest oil producer in 2019



    Energy Agency: America will overtake Russia as the largest oil producer in 2019 6170



    The United States will overtake Russia as the world's largest oil producer by 2019 at the latest as the country's rocky oil sector continues to flourish, the International Energy Agency said on Tuesday.
    "The United States will overtake Russia as the biggest crude producer," certainly next year, "if not this year, the agency's executive director Fatih Birol told an event in Tokyo.
    "The growth of US rock oil is very strong, the pace is very strong," he told Reuters separately. "The United States will become the first oil producer soon."
    US crude production rose above 10 million bpd late last year for the first time since the 1970s, surpassing the United States on Saudi Arabia, the world's top oil exporter.
    The US Energy Information Administration said earlier this month that US production would exceed 11 million bpd by late 2018. This would lead the United States to outperform Russia, the world's largest producer of crude, which pumps supplies just below that level.
    He said he did not expect US production to reach the peak level before 2020 and did not expect a decline in the next four to five years.
    The increase in US supplies comes at a time when other major producers, including Russia and members of the Organization of the Petroleum Exporting Countries, are constraining production levels to help prices rise.
    US crude exports, including to the world's largest and fastest-growing Asian markets, are increasing, reducing the market share of Russia and OPEC.
    At the same time, net US crude oil imports fell by 1.6 million barrels per day to 4.98 million barrels per day, the lowest level since the Energy Information Administration began recording data in 2001, highlighting further erosion in the OPEC market. Depend on them for decades.
    "Production growth is not strong in the United States alone," he said, referring to "Canada, particularly sandy oil, and Brazilian maritime projects. These are two key drivers for driving "production from outside the United States.
    On the demand, Berol said the International Energy Agency expects growth of about 1.4 million barrels per day in 2018.


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