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  2. Why OPEC's grip on oil markets will continue to weaken in 2025

    www.aol.com/why-opecs-grip-oil-markets-193512699...

    Bank of America expects Brent crude to average $61 per barrel through 2025, indicating a 17% decline from current levels. ... the US and other non-OPEC producers keep pumping. ... The IEA expects ...

  3. The US and other crude producers will take more oil market ...

    www.aol.com/us-other-crude-producers-more...

    The US and other oil-producing nations will account for the bulk of crude supply growth in 2025, Bank of ... "We expect non-OPEC supply growth to take a ~75% share of the world's global demand ...

  4. Oil prices have been falling for seven weeks straight. Here’s why

    www.aol.com/oil-prices-falling-seven-weeks...

    In the near term, as far as the demand for crude oil markets, it’s been a little different. Last month imports fell by about 10% from the month prior, and there’s been a year-over-year drop of ...

  5. 2023–2025 world oil market chronology - Wikipedia

    en.wikipedia.org/wiki/2023–2025_world_oil...

    On June 20, Brent reached $85.89, highest since May 1 after U.S. crude inventories fell and a U.S. jobs report made cutting interest rates more likely. [61] Oil finished June up 6 percent, with WTI finishing at $81.54. [62] The next week, Brent reached $87.55, the highest since April, and WTI closed at $83.88, highest in 11 weeks.

  6. Global energy crisis (2021–2023) - Wikipedia

    en.wikipedia.org/wiki/Global_energy_crisis_(2021...

    In 2020, it was the third largest oil producer in the world, behind the United States and Saudi Arabia, with 60% of its oil exports going to Europe. [17] [18] Russia is traditionally the world's second-largest producer of natural gas, behind the United States, and has the world's largest gas reserves and is the world's largest gas exporter. In ...

  7. Fossil fuel phase-out - Wikipedia

    en.wikipedia.org/wiki/Fossil_fuel_phase-out

    While crude oil and natural gas are also being phased out in chemical processes (e.g. production of new building blocks for plastics) as the circular economy and biobased economy (e.g. bioplastics) are being developed [16] to reduce plastic pollution, the fossil fuel phase out specifically aims to end the burning of fossil fuels and the consequent production of greenhouse gases.

  8. US net crude oil imports to fall by 20% in 2025 to lowest ...

    www.aol.com/us-net-crude-oil-imports-192522749.html

    HOUSTON (Reuters) - U.S. net crude oil imports are forecast to fall by 20% next year to 1.9 million barrels per day, their lowest since 1971, the Energy Information Administration said on Tuesday ...

  9. 2010s oil glut - Wikipedia

    en.wikipedia.org/wiki/2010s_oil_glut

    Large build in stock in late 2014 Crude oil production in the United States increased from about 6 million barrels of oil a day in 2011 to almost 10 million barrels of oil a day in late 2014 The 2010s oil glut was a significant surplus of crude oil that started in 2014–2015 and accelerated in 2016, with multiple causes.