Andrew Henry on Nostr: ` While demand is forecast to peak before 2030, continued investment by oil ...
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While demand is forecast to peak before 2030, continued investment by oil producers, led by the US, would by then result in more than 8mn b/d of spare capacity, the IEA wrote in its annual report on the industry released on Wednesday.
This “massive cushion” of extra oil could “upend” the efforts of Opec+ to manage the market and usher in an era of lower prices, the IEA said, adding that the spare capacity would be unprecedented outside the coronavirus pandemic.
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https://www.ft.com/content/cfb97534-b71b-490f-b626-6dc3487f595d
While demand is forecast to peak before 2030, continued investment by oil producers, led by the US, would by then result in more than 8mn b/d of spare capacity, the IEA wrote in its annual report on the industry released on Wednesday.
This “massive cushion” of extra oil could “upend” the efforts of Opec+ to manage the market and usher in an era of lower prices, the IEA said, adding that the spare capacity would be unprecedented outside the coronavirus pandemic.
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https://www.ft.com/content/cfb97534-b71b-490f-b626-6dc3487f595d