Insight
Global Oil Market Update
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Report summary
If oil demand growth slows below our forecast and OPEC does not agree on a production cut at its 27 November 2014 meeting, then Brent could test the US tight oil “floor” of $80 per barrel. The effect on US tight oil production growth from Brent prices above $80 per barrel is minor for 2015-2016, if Brent prices remain above that level and WTI above $70 per barrel. This is based on our newly updated analysis of break even prices.
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