US oil exports will negatively affect the price of oil in the world market and the price will range between $60 and $80 over the next one-and-a-half years, Rice Energy and Environment Initiative at Rice University Executive Director Sergio Kapusta told Sputnik on Friday.
Asked about the main oil price drivers in the near future, Kapusta said, “The main driver that I see is the growth of North American unconventionals continuing to grow and exceeding everybody’s expectations”.
Kapusta pointed out that oil production has been “tremendous” and given that the United States has had excess capacity the only option it had was to export. However Read More
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