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home / news releases / CRAK - Decline In World Conventional Oil Output And Peak Oil

CRAK - Decline In World Conventional Oil Output And Peak Oil

VanEck Vectors Oil Refiners
  • World Conventional Oil output peaked at a centered twelve-month average (CTMA) of 74193 kb/d in July 2016.
  • The general trend for non-OPEC conventional oil has been an annual decline rate of about 48 kb/d over this period, and for OPEC, output has increased at an annual rate of 171 kb/d over the same period.
  • My expectation is the new peak will be due to an increase in unconventional oil, both tight oil and Canadian oil sands, with an increase from 10.5 Mb/d in 2021 to 15.4 Mb/d in 2029 as shown in the chart below.

For further details see:

Decline In World Conventional Oil Output And Peak Oil
Stock Information
Company Name: VanEck Vectors Oil Refiners
Stock Symbol: CRAK
Market: NYSE
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