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Global Oil and Gas Market Steve Villas analyzes the global oil market, highlighting that while the United States leads global production at over 13 million barrels per day due to horizontal drilling and hydrofracking, it remains reliant on imports due to domestic demand and refinery setups. The global market handles roughly 100 million barrels daily, with demand shifting from flat Western consumption toward rapidly growing middle classes in China and India. He will also discuss the impact of the Iran war and the periodic closing of the Strait of Hormuz on supply. Steve demystifies oil pricing ...
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