Everyone is looking at the possible lifting of US restrictions on crude oil export as another trigger for a slump in oil prices.
8But an extensive study has proven that removal of current restrictions on US export of crude will have only a marginal impact if any on global prices.
8The study says that the impact at best will be a small reduction in global crude price.
8What will determine global crude price movements will be other normal factors that affect global supply and demand.
8While removing restrictions on U.S. crude oil exports either leaves global prices unchanged or lowers them modestly, global price drivers unrelated to U.S. crude oil export
policy will affect growth in U.S. crude oil production and exports of crude oil and products whether or not current export restrictions are removed.
8The debate on removing export restrictions is not yet over following forecasts that US crude output will fall to 9.0 million barrels per day in 2016 as against 9.4 million b/d in 2015 following changes in drilling activity following the sharp decline in oil prices since 2014.
8The situation however must be looked at from the perspective that output has arisen from 5.6 million barrels per day (b/d) in 2011 to 8.7 million b/d in 2014, going up to 9.4 million b/d this year.
For more details visit indianpetroplus.com
8But an extensive study has proven that removal of current restrictions on US export of crude will have only a marginal impact if any on global prices.
8The study says that the impact at best will be a small reduction in global crude price.
8What will determine global crude price movements will be other normal factors that affect global supply and demand.
8While removing restrictions on U.S. crude oil exports either leaves global prices unchanged or lowers them modestly, global price drivers unrelated to U.S. crude oil export
policy will affect growth in U.S. crude oil production and exports of crude oil and products whether or not current export restrictions are removed.
8The debate on removing export restrictions is not yet over following forecasts that US crude output will fall to 9.0 million barrels per day in 2016 as against 9.4 million b/d in 2015 following changes in drilling activity following the sharp decline in oil prices since 2014.
8The situation however must be looked at from the perspective that output has arisen from 5.6 million barrels per day (b/d) in 2011 to 8.7 million b/d in 2014, going up to 9.4 million b/d this year.
For more details visit indianpetroplus.com
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