The Rising Influence of Rising Affluence

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Miserable places are a significant source of oil production so I am not sure what you are asking. PDVSA if run like a regular market based company has ~10 Million B/D production capacity. Iran has a competent government compared to many places that produce more than them and they can easily supply another 5 MMB/D. Majors need to go back and look at their price forecasts and projects more critically. The only positive bump out of this event for the oil industry is that EV adoption will be dragged out for a couple of years.