From 2005 to 2015 global oil output has increased from 83 million to 93 million bpd (1.29%).
The oil and gas companies with the most impressive increases often all state-owned. Other economically less rational resources are taking over, but only at the expense of the tax payer.
UPDATE:
UPDATE:
It’s the oil crash few saw coming, and few have been spared as it erased $1.3 trillion http://t.co/1JirDVjIsJ pic.twitter.com/RJgt6A8mWL
— Bloomberg Business (@business) August 5, 2015