Global upstream oil supply summary - November 2018
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Report summary
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Executive summary
- Global supply: fourth quarter supply boost as Iran sanctions begin
- US Lower 48: easing bottlenecks as EPIC to temporarily convert NGL pipeline to carry crude oil
- OPEC: Iran sanctions took effect on 5 November
- Iran: exports plunge as sanctions re-imposed
- Libya: short term stability leads to increased output, but risks remain
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