We anticipate roughly stable oil production in the coming years for ConocoPhillips, estimating that its crude oil and NGL production will reach 471 million barrels by the end of our forecast period.

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Tightening or loosing the availability of capital, which the Federal Reserve has power over, will not change the balance of oil production to refinery capacity or make the oil producing nations politically stable.

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Improved security and a more stable political environment mean economic activity has "picked up" on the back of increased oil production and exports.

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