Maugeri expects 17 million b/d more global oil production by 2020

07/02/2012
Global crude oil production capacity is likely to climb to 110 million b/d by 2020 from 93 million b/d currently in the largest single-decade increase since the 1980s, a former senior Eni executive forecasts in a recent study. The 17 million b/d surge will occur nearly everywhere, with the largest increases in Iraq, the US, Canada, Brazil, and Venezuela, said Leonardo Maugeri, a research fellow at the Geopolitics of Energy Project at the Belfer Center for Scientific and International Affairs at Harvard University's John F. Kennedy School of Government. The study, "Global Oil Production is Surging: Implications for Prices, Geopolitics, and the Environment," also forecasts that te...
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