Capacity glut looming for OPEC in 2005

09/22/2003
A burgeoning surplus of crude oil capacity among members of the Organization of Petroleum Exporting Countries looms on the horizon.The world's surplus oil productive capacity could top 7 million b/d by 2005, up from about 3.3 million b/d in 2004. Most of this surplus will be in OPEC.And who offers this bearish outlook? None other than OPEC itself. In its latest monthly oil market report, published last month, the OPEC Secretariat outlined a scenario for the call on OPEC oil in 2004. It's a sobering scenario for oil market watchers.Demand vs. supply growthThe secretariat's analysis points to the cost of the organization's efforts to defend oil prices in a band at $22-28/bbl...
read-story

Why Register?

Non-subscribers can only view whitepapers by providing name, home and email address, phone number and other information and comment on/rate articles.

Why Subscribe?

Oil & Gas Journal subscribers with login credentials can access these premium features of OGJ Online:

  • Current Issue – an html version of the current week's issue of Oil & Gas Journal.
  • Past Issues – An Electronic OGJ Archive. A keyword-searchable archive of all issues of Oil & Gas Journal dating back to 1990; also searchable by issue date.
  • Market Journal – a weekly round-up of the oil and gas markets, with observations from leading analysts.
  • Editor's Perspective – a short article of insight and opinion by the Editor of Oil & Gas Journal.
  • OGJ Industry Stats – quick access to current industry statistics from Oil & Gas Journal.
  • OGJ Survey Downloads - quick access to exclusive reports from Oil & Gas Journal.

 

Subscriber Help or Subscribe

Oil & Gas Journal Subscribers: Have your subscription number (from the mailing label on the cover of your Oil & Gas Journal) and e-mail address ready to set up your online account through Customer Service Assistant.

If you're not an Oil & Gas Journal subscriber, start a subscription and gain access to the subscriber areas of OGJ Online now.

Stay Connected