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Scramble for oil as price continues to rise

There is no doubt that global oil production - at about 87 million barrels a day is sputtering. The real question is: why? Is it, as advocates of the “peak oil theory” claim, because there is simply not enough oil left in the ground? Or is it because of other reasons, such as a lack of investment in new fields? It is a fact that some of the world's biggest oil areas are being depleted rapidly.

Topic: Global Oil Consumption

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