Oil supply seen threatened by limited E&P opportunities

Strong oil demand growth, high oil prices, and dwindling spare production capacity are making the oil industry, its customers, and financiers question the source of tomorrow's oil, reported World Markets Research Centre in a September report. WMRC is part of the London-based Global Insight group of companies. "The oil industry will face the challenge of adding 18 million b/d of new production by 2020 if demand rises at 1.8%[/year]U[but] low IOC [international oil company] exploration investment and lack of new discoveries raise questions over long-term production," WMRC said. The analysts said IOC exploration investment "is not tracking prices as it has done in the past," primaril...

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