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  • robertvandoley robertvandoley Jul 12, 2014 8:40 AM Flag

    J.P. Morgan SeeS Higher Oil Prices in the U.S.’s Future

    Even as production soars, “strong growth rates in the supply of oil are already slowing,” the bank says, noting that growth in output from U.S. crude oil fields slipped to 12% at the end of June, down from 15% a year ago.

    The bank upgraded its 2015 forecast for U.S. oil prices to $108 a barrel, from $85 a barrel previously. Lower oil exports from Iraq, turmoil in the Ukraine, and China's building up of it's strategic oil reserves are likely to contribute to higher prices as well.

 
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