CERA: World oil supply to rise by 20 million b/d by 2010

The world will experience a strong surge in oil supply growth this decade, according to a panel of Cambridge Energy Research Associates analysts assembled at the energy think tank's annual CERAWeek conference in Houston last week.Robert W. Esser, CERA senior consultant and director, global oil and gas resources, predicted global oil production capacity will expand by 20 million b/d during 2004-10.Other analysts with the Cambridge, Mass.-based CERA focused on selected areas of growth such as the Middle East, Russia, and the Caspian Sea region.However, a couple of critical caveats emerged from the panelists' brief presentations:There may be some roadblocks ahead in achieving these p...

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