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IEA: US$ 40 oil means 3 mp/d less oil by 2020

You want $40 oil? Yes, please. But according to the World Energy Outlook 2015 of the International Energy Agency, recently released in London, that would mean 3 mb/d less US tight (shale) oil by 2020.

Iraq needs 1.3 mb/d additional oil exports and $US 70 oil to balance budget

If oil prices remain low Iraq will not get out of its current budget deficit. That will worsen all other problems this country is already suffering from.

Saudi Arabia’s Fiscal Break-Even Oil Price to Be Around $US 100 Mark for the Foreseeable Future

The latest IMF Article IV consultation report on Saudi Arabia was published on 9 September 2015.

US Shale Oil too Expensive, Peaks 1H 2015

According to EIA data, monthly US crude oil production peaked in April 2015 at 9.6 mb/d.

Syria peak oil weakened government’s finances ahead of Arab Spring in 2011

While the attention of the world is on the refugee crisis we need to look at the causes of this mass exodus.

Europe Oil Consumption Peaked in 2005

Consumption peaked 7 years after the production peak and is falling now in sync with production.

Asia depends on Middle East for 66 % of its oil imports

Of Asia’s total incremental oil imports since 2001, 4.5 mb/d (47%) have come from production growth, 3.9 mb/d (41%) from taking away imports of other countries (US, Europe, Africa and others) and 1.2 mb/d (12%) from direct consumption decline (US, Europe and others).

Asia’s Oil Consumption at Record High While Production Peaked in 2010

The question no one asks (or wants to ask) is how much oil there is to carry Asia through the decades to come. No one can give an answer of course but it is clear that if past oil consumption and production trends continue the region will slide into a huge oil crisis.

China's Offshore Oil and Gas Production Started to Peak in 2010

The China National Offshore Oil Corporation has had problems growing oil and gas production in the Bohai Bay since 2011 due to geological and environmental limitations in the Bohai Bay, its main producing area. This has resulted in the company expanding overseas.

Australia’s alternative transport fuel: The East Coast gas-ship has sailed

Credit Suisse reported that there is not enough East coast gas for 3 LNG export terminals at Gladstone, Queensland. If that is the case then it is doubtful whether there will be sufficient gas to replace petrol and diesel by gas as transport fuel.