What’s new in exploration ///

In a never-ending cycle, market forces affect the desktops and jobs of explorationists. Despite cries of impending calamity from members of OPEC, oil prices have probably not slid dramatically enough to affect exploration and development efforts. According to Algeria’s oil minister, Youcef Yousfi, Brent crude prices have fallen because of decreased demand and an increased supply of almost 2 MMbopd in the past year. He attributes lower demand to the European financial crisis.

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