New Zealand New Zealand's Crude Production Woes Have Further To Go

摘要

Key View: New Zealand’s crude oil and liquids production will remain in decline due to natural declines and insufcient exploration. The government's decision to ban future ofshore oil and gas exploration will compound New Zealand’s upstream woes. This will increase the country's dependence on crude oil imports, with the unwinding of the OPEC+ production cut deal set to intensify the competition for market share among existing suppliers.