OPEC production capacity rising, IEA report says

12/05/2005
While a vigorous debate proceeds among specialists about how much petroleum the world has left to produce, the number of greatest immediate importance is production capacity.Among leading producers, that number-contradicting pessimism aroused by the important “how much” debate-is increasing.In its November Oil Market Report, the International Energy Agency increased its estimate of sustainable production capacity among members of the Organization of Petroleum Exporting Countries by 100,000 b/d to a total of 31.8 million b/d.IEA expects further increases: to 32.1 million b/d by the end of this year and to 33 million b/d by the end of 2006.The November increase accounts for expe...
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