Dramatic increases in U.S. crude production rates in recent years have had a significant impact on the global petroleum supply and demand balance. While reducing U.S. dependence on foreign oil, it has also contributed to the current environment of low oil prices. A new pricing level has yet to be achieved as global oil markets continue to be over-supplied and plagued by high inventory levels. Turner, Mason & Company and Schlumberger have recently collaborated on a joint study to evaluate oil markets through 2025 and calculate new pricing, supply and demand equilibria. This presentation discusses this study, its background, and some of the major findings.
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