Focus story by Ignacio Sotolongo
HOUSTON (ICIS)--The chorus of calls to end the longtime ban on US crude oil exports has quieted in recent weeks as crude prices have fallen precipitously due to a global oversupply.
Thanks to a wealth of oil production unlocked in recent years by the shale oil revolution, recent data from the Energy Information Administration (EIA) showed US crude oil production averaging 8.5m bbl/day, the highest level since 1987. In its monthly short-term energy outlook, the EIA expects production to average 9.3m bbl/day in 2015. By comparison, top global oil producer Saudi Arabia produces around 11.5m bbl/day.more >>
INSIGHT: Bayer finally decides on MaterialScience split
“The proposed flotation was approved by the Bayer Supervisory Board, the decision pushing the Bayer share price up by close to 6% by 16:00.” more
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