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Energy Level
| 题名： | Energy Level |
| 正文语种： | eng |
| 作者： | JIM REDDEN |
| 摘要： | Despite a contentious production cut, it remains to be seen if the drop in oil prices over the past few months will prove to be temporary or if prices will return to earlier 2022 levels. Prices on the Brent benchmark are expected to return to more than $100/ bbl by Christmas, said Norwegian consultancy Rystad Energy, while others predict fears of a recession, accompanied by a drop in demand and increased supply, may keep a handle on prices. The West Texas Intermediate (WTI) benchmark price consistently lags behind Brent, which stood at $94.65/ bbl on Nov. 1, with WTI coming in at $88.37/bbl. Saudi Arabia-led OPEC and allied producers decided to cut global oil production beginning in November, effectively spurning President Biden's plea in July to raise production. The announced 2 million bbl/d reduction will likely amount to around 1.2 million bbl/d, when adjusted for some producers' unmet quota levels, said Rystad and others. |
| 出版年： | 2022 |
| 期刊名称： | Work Boat |
| 卷： | 79 |
| 期： | 12 |
| 页码： | 9-9 |
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