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OPEC spare productive capacity ‘diminished’

07/16/2007
By NINA RACH
Increasing global demand for crude and natural production declines have diminished the excess productive capacity of the Organization of Petroleum Exporting Countries and its power to manipulate oil prices, said analysts J. Marshall Adkins and Collin Gerry in the Houston office of Raymond James & Associates Inc.Saudi Arabia, OPEC’s biggest oil producer, plans to raise its production capacity to 12.5 million b/d by 2012 from 10.5 million b/d currently. “For the record, we don’t think the magnitude of this increase is attainable,” said Adkins and Gerry in a July 9 report. “The more relevant issue is that declining productivity and political instability of o...
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