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Big Oil Hits Sweet Spot as Projects Reap Rewards of Recovery

  • Majors set for biggest production gains since start of decade
  • Improved output comes with lower costs and stronger prices
Bloomberg business news

Scaroni: Oil in $50-$60 Range Next Couple of Years

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Big Oil is poised to reap rewards this year as investments made before the crude-price slump pay off just as the recovery starts.

Seven of the world’s largest energy companies will together boost oil and natural gas output by 398,000 barrels a day, the most since since 2010, according to data from Oslo-based consultant Rystad Energy AS. In 2018, output will rise even faster.