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Low oil prices haven't tempered output from rivals, says Opec

Long-term strategy report projects glut in crude oil to continue for another two years
Friday, May 29, 2015 - 05:50

New and cheaper technologies in extraction of tight crude, shale gas, and oil sands would guarantee aggregate growth at 6 per cent per year and contribute 45 per cent of the growth in energy production to 2035, according to the Opec report.


THE North American oil boom is proving resilient despite low oil prices, the Organisation of Petroleum Exporting Countries (Opec) said in its biggest and most detailed report this year, suggesting the global oil glut could persist for another two years.

A draft report of

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