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Can US Oil Imports from OPEC be Stopped?

Finance Investment Trading

Can US survive if OPEC oil imports are stopped? OPEC suppliers shrugged off the goal of new administration of cutting the oil imports from ‘hostile’ countries. The idea of oil independence was dismissed as total nonsense. Bloomberg reports: The U.S. is “closely integrated in the global energy market,” Saudi Arabia’s Energy and Industry Minister Khalid …

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Oil Prices in 2017

Finance Investment Trading

Oil prices may not be posed to rise in 2017. The effect of reduction of oil production by OPEC countries and Russia and collapse in China’s oil production may be mitigated by growing oil production in non-OPEC countries such as Libya, Iran, Iraq and Algeria, as well as the increase in US shale oil output. …

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China is Further Reducing Oil Production

Finance Investment Trading

Domestic oil production in China is expected to continue its fall in 2017. China is one of the largest oil producers delivering 4 million barrels per day. Bloomberg reports: China’s production is forecast to fall by as much as 7 percent this year, extending a record decline in 2016 … That’s about the same size …

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