Undersupply foreshadowed

WOODSIDE Petroleum sanctioning Greater Enfield and final investment decision numbers more broadly showing signs of recovery this year will not be enough to feed forecast demand, as McKinsey sees oil rising to US$70/bbl (A$89) within seven years.

Undersupply foreshadowed Undersupply foreshadowed Undersupply foreshadowed Undersupply foreshadowed Undersupply foreshadowed
The firm says exploration and production companies will still need to add 35 million barrels of new crude production a day from unsanctioned projects to meet demand by 2030.

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