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Liquids supply highlights regional diversity

  • Liquids trade balance shift as supply and demand evolve
  • America swings to a net exporter as shale growth continues
  • Latin America exports increase from added deepwater, oil sands and tight oil supplies 
  • Middle East, Russia/Caspian remain major oil exporters to 2040, but Africa shifts to an importer
  • Europe remains a net oil importer as its demand and production decline 
  • Asia Pacific imports increase to 80 percent of oil demand in 2040

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