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Has non-OPEC oil production peaked?

Posted on 05 February 2009

From Bi-me.com: A research paper out today from Merrill Lynch says the combination of low oil prices and a global credit crunch will prove rather damaging for the oil industry. Its analysis based on the IEA Field by Field Production database finds decline rates at an average of 4.2% per annum since 2003.

Extrapolating from this sample to create a global production profile, the bank believes the global decline rate has averaged at least 4.5% year on year in recent years….. Full Article: Source


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VRS - who has written 39041 posts on Opalesque Commodities Briefing.


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