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The Counterintuitive Cure For Low Oil Prices

February 1, 2021 by

Demand for oil-based products has gone from 75 million per day in 1999 to 101 million barrels per day in 2019. So, simple math [(101-75)/20] tells us that we need to add about 1.3 million barrels per day of new supply each year. There is no evidence of “Peak Demand”.

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