Would you like to start a free subscription?
Remember me | Forgot password
For full content view: Log in Now!
A year ago, in this same outlook column, I warned that 2006 would be a challenging year for oil markets as demand continued to grow, notwithstanding growth constraints imposed by limited spare capacity. It is tempting to simply repeat last year’s story, since little has changed to brighten the outlook for sustained growth in high-quality oil supplies. The rig and personnel shortages I discussed as 2005 ended have worsened over the past 12 months. The industry’s entire value chain of complex assets, which are needed to bring crude oil and natural gas liquids from the wellhead to a consumable petroleum product, is effectively operating at full capacity. Moreover, a high percentage of energy infrastructure is far too old, and only a tiny portion of this value chain is being replaced.
Last year was challenging for global oil markets. A year ago, oil prices had retreated from post-hurricane highs.
This area of the site is restricted.
In order to gain access, please either Log
In, or subscribe to World Oil.
Two options are available to you for creating an account.
1. Get a Free Trial Subscription to World Oil Magazine and gain immediate access to select content on World Oil Online.
Start a Free Trial Subscription and gain immediate access to the complete current issue of World Oil Magazine. Plus, you’ll receive 3 upcoming issues of World Oil Magazine in print or digital format.* You also receive access to the Energy Events Calendar, Industry Statistics and WO Wire’s news and industry coverage.
2. Purchase a subscription to World Oil magazine and gain immediate
and complete access to World Oil Online. As a Total Access subscriber
you will have access to all areas of the site available to registered users and
free subscribers as well as having access to such premium content areas as:
Physical copies of this content may be available for purchase. Visit the Reprints & Back Issues section.
If you are already a paid subscriber and do not have access, please email CustomerService@worldoil.com.
World Oil's specialized upstream Engineering Data Tables featuring the Drill Bit Classifier, Tubing Tables and more. Get Total Access today.
Aberdeen - December 2-3
Calgary - December 8-8
Mangaf - December 8-10
All material subject to strictly enforced copyright laws.
© 2014 World Oil. © 2014 Gulf Publishing Company.