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There's a fair chance that the market structure might flip into backwardation in 2016, this implies that the market prospects are not getting better (and) the oversupply in oil markets will take some time to work down.
In order to meet demand, we still need to find and develop 5-6 Saudi Arabias, it's such a tall order that I'm not sure we'll manage, given that the world has consumed more oil than our industry has been able to replace the last few years.
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