OGJ Newsletter

01/03/2005
General Interest—Quick TakesIEA's Russian oil production forecast 'optimistic'A recent International Energy Agency forecast of Russia's crude oil production is "unjustifiably optimistic," argued a report from Energy Security Analysis Inc. (ESAI), Boston.IEA projected Russia's 2005 crude production to average 9.64 million b/d, implying growth of 420,000 b/d relative to 2004. ESAI sees incremental crude output in 2005 growing by a maximum of 200,000 b/d, with the possibility that emerging factors could reduce this forecast further."After reaching an absolute post-Soviet peak of 9.49 million b/d in September, Russia's average daily production has been falling fo...
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