New Oil Projects Set to Flood Market in 2025 ...Middle East

OILPRICE - Economy
New Oil Projects Set to Flood Market in 2025
source : OILPRICE ( Middle East ) () 75
This year will see the highest amount of new oil supply in a decade, according to data analyzed by Raymond James that showed projected global additions of nearly 3 million barrels daily.  But only if the price is right. Bloomberg reported the Raymond James figures, noting projects such as the giant Tengiz field in the Kazakh section of the Caspian Sea—one of the largest oil discoveries in modern times—and the Bacalhau field in Brazil, which has an estimated potential of 1 billion barrels of oil equivalent. Production expansions…

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