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Peak Oil in the News
Peak Oil News Wednesday October 4th 2006

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BP Quarterly Output Falls for Fifth Straight Period
(Bloomberg) BP Plc, Europe's second-largest oil company, said production fell for a fifth consecutive quarter as reduced output from its Prudhoe Bay field in Alaska added to startup delays in the Gulf of Mexico.

Oil prices fall as crude inventories grow
(Toronto Star) Oil prices fell for a third straight day on Wednesday as U.S. inventories of crude rose and OPEC was expected to maintain its output for the time being. U.S. inventories of gasoline and distillate, which includes heating oil and diesel, also grew.

Oil sands seen becoming main Canadian crude source
(Reuters Canada) About 80 percent of Canadian crude oil production in 2020 is expected to come from northern Alberta's oil sands, double the current contribution, and this growth should more than offset a slide in conventional output, according to a new long-term energy outlook.

Oil edges higher after Kuwait says may cut
(Reuters Canada) Oil rose back to near $59 a barrel on Wednesday after Kuwait said it may join other OPEC countries in cutting output if prices continue their three-month slide.

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