Production up but spot prices down: EQ

IT HAS been a year and a quarter of records according to consultancy EnergyQuest whose report released today finds overall production in Australia  up over 16% for 2018-19 compared with the previous year to stand at just over one billion barrels of oil equivalent. 

Production up but spot prices down: EQ Production up but spot prices down: EQ Production up but spot prices down: EQ Production up but spot prices down: EQ Production up but spot prices down: EQ

Chevron's Gorgon LNG project

 
 
 
However increased production comes at a time when there is a surplus on the market, depressed spot prices and Australia's long term oil-linked contracts yielding lower prices