Record supply belies tight oil market

08/23/2004
If the global race between oil supply and demand were to be held today, it would be almost a photo finish.Despite the fact that global oil supply hit a record level of 83.5 million b/d in July, surging demand continues to sop up the new volumes. The International Energy Agency, in its August Oil Market Report, estimates that supply from the Organization of Petroleum Exporting Countries rose by 525,000 b/d last month, along with added volumes from non-OPEC countries totaling 75,000 b/d. Yet the Paris-based agency's estimate of global demand growth in 2004 remains at 2.5 million b/d, and IEA pegs the call on OPEC oil in the fourth quarter at 28.4 million b/d vs. the group's July pro...
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