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London, August 13, 2024, (Oilandgaspress) –– According to the EIA, OPEC+ production cuts are expected to reduce global oil inventories over the next three quarters, thereby pushing oil prices higher. In June, OPEC and its allies agreed to extend production cuts of 3.66 million barrels...

EIA reported that publicly traded oil and gas companies saw an increase in proved reserves for last year of an additional 2 billion barrels, despite rising costs of exploration and development in North America and Latin America. ...

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