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In 1956, Hubbert confined his peak oil prediction to that crude oil "producible by methods now in use." [13] By 1962, however, his analyses included future improvements in exploration and production. [14] All of Hubbert's analyses of peak oil specifically excluded oil manufactured from oil shale or mined from oil sands. A 2013 study predicting ...
M. King Hubbert introduced the concept in a 1956 paper, predicting U.S. production would peak between 1965 and 1971, but his global peak oil predictions were premature because of improved drilling technology. [10] Current forecasts for the year of peak oil range from 2028 to 2050. [11]
Oil prices are expected to peak this summer before heading toward a steep decline in 2025, say Citi analysts. ... Citi is known for its relatively bearish oil forecasts compared to the rest of ...
"Hubbert's peak" can refer to the peaking of production in a particular area, which has now been observed for many fields and regions. Hubbert's peak was thought to have been achieved in the United States contiguous 48 states (that is, excluding Alaska and Hawaii) in the early 1970s. Oil production peaked at 10.2 million barrels (1.62 × 10 ^ 6 m 3) per day in 1970 and then dec
Oil giant BP released a report Monday predicting that the world sharply reduce its reliance on the company's signature product, oil and gas, over the next 25 years as countries hastened their ...
Rystad Energy revealed on Monday that the Covid-19 pandemic and the acceleration of the energy transition have led it to significantly revise its long-term oil demand forecast.