Short-term conflict within OPEC, but Exxon predicts oil will still be the main provider for increasing global energy demand.
Oil revenue will fall for many energy exporters but importing countries will see benefits from the drop in oil prices.
Booming shale oil and biofuels changes the balance of global oil producers.
Over-production could threaten fuel prices even as emerging economies drive demand
The US could drop to second place in the world's oil import league as China's energy hunger continues to increase.
OECD and OPEC supplies are set to tighten as global fuel demand rises in 2013 according to a new report.
Record 2012 may be followed by strong 2013 for the oil producing nations' conglomerate as US fuel prices escalate.
Authorities give go-ahead for large refinery in Quanzhou
Two European meetings involving OPEC discussed the future of OPEC and its relationship with the EC
China's oil consumption is set for further growth in 2012, but at a slightly reduced rate.