EIA estimates decrease in global surplus crude oil production capacity in 2022

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By mmillikinJun 26, 2022, 8:00 am208 pts
As of May 2022, surplus crude oil production capacity in non-OPEC countries decreased by 80% compared with 2021, according to the US Energy Information Administration’s (EIA) new report Global Surplus Crude Oil Production Capacity. In 2021, 1.4 million barrels per day (b/d) of surplus production capacity was…

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