12 Hrs
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المشهد العربي
Konuoko Phillips: Anticipated Rise in Minimum Oil Price
Ryan Lance, the Chairman and CEO of ConocoPhillips, expected the minimum oil prices to rise to around $70 per barrel, with the average price remaining stable between $65 and $70. He pointed out that the oil market faced pressures due to the conflict in the Middle East but avoided a collapse. He also indicated that U.S. oil production could exceed 14 million barrels per day if current prices persist. Additionally, he anticipated a gradual recovery in global oil demand by 2028 or 2029, emphasizing the need to secure traditional sources of production to meet the increasing demand.
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