Would you like to start a free subscription?
Remember me | Forgot password
For full content view: Log in Now!
According to the IEA, 2007 ended with an 870-kbpd increase in world oil supply, totaling 87 million bopd, with global supply in 4Q more than 1.0 million bpd higher than a year earlier. Contrary to the downward revisions in previous months, world oil demand was revised up by 150 kbpd to 85.8 million bpd for 2007 on stronger-than expected deliveries in Asia and the Middle East and cold OECD weather, but the 2008 demand forecast remained virtually unchanged at 87.8 million bpd.
Changes have been made to the World Oil and NGL Production table, Ecuadorian production is now included in the OPEC section. According to IEA, OPEC crude supply increased by 825,000 bpd to 32.0 million bpd in December, following the inclusion of 500,000 bpd from Ecuador and the remaining 325,000 bpd coming from restored UAE production and higher Iranian exports. Effective OPEC spare capacity fell to 2.2 million bpd, 80% of which was held by Saudi Arabia.
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.