The report received considerable media attention because of the projection that by 2030 oil production will reach “a staggering 8 million barrels per day above projected global demand.” ...
This reflects weakened demand from China and aglobal marketflush with supply. In 2024, U.S. oil production hit a record 13.46 million barrels per day (bpd), a 259,000 bpd increase over the ...
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