FACTS: Middle East production capacity to continue climb

04/04/2005
The Middle East's crude oil production capacity will continue to rise by 4.35 million b/d from 2003's estimate of 23.9 million b/d, reaching 28.3 million b/d of oil by 2010.These figures are based on the current capacity and production situation in the region, incremental capacity additions until 2010, and the natural decline rates from the region's oil fields, according to Honolulu-based analyst FACTS Inc. (Fesharaki Associates Consulting & Technical Services Inc.) in an energy brief released this month."The Asia-Pacific region has been a major market of Middle Eastern oil and the import dependency of Asian consumers on Middle Eastern crude is projected to increase," FACTS re...
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