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Commodities Briefing - Categorized | Market Moves, Oil, Price Watch more

Has peak oil come to the non-opec world? Maybe.

Posted on 31 August 2011

The world’s biggest oil companies put in a pretty pathetic performance in the second quarter of 2011. Not in terms of earnings — those were great, with Exxon posting $10.7 billion and Royal Dutch Shell doing $8 billion. Just what you’d expect with Brent crude at a lofty $120 a barrel.
Where the results were disappointing was in the barrels. Of the 16 big U.S. and European oil companies studied by Deutsche Bank analyst Paul Sankey, 14 of them saw their production of petroleum decline in the quarter……………………………………….Full Article: Source


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VRS - who has written 48800 posts on Opalesque Commodities Briefing.


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