Press Esc to close



For full content view: Log in Now!

  • Industry at a glance

    According to the IEA, world oil supply increased by 1.4 million barrels a day in October as non-OPEC outages receded and OPEC volumes increased. Global demand has been revised down by 0.5 million barrels per day to 85.7 million bpd for 2007. These revisions extend to the 2008 forecast, which has been adjusted down by 0.3 million bpd to 87.7 million bpd. OPEC crude supply increased in October by 410,000 bpd to 31.2 million bpd, with half the increase coming from Angola and Iraq, with both producers expecting to see higher supplies continue in November. Crude futures continued to surge this month, with WTI hitting a new record of above $98 per barrel in early November. According to the EIA, fourth quarter 2007 WTI prices are expected to continue to remain high at around $87 per barrel. Another production increase by OPEC is possible if prices continue to climb to near the $100 mark.

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.

Free Trial

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:

  • The Archives section containing over ten years of complete magazine archives,
  • The WO DataHub's engineering tables and directories,
  • The World Oil annual forecasts, including past predictions,
  • Select World Oil technical handbooks,
  • And much, much more!


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



Engineering Data Tables

World Oil's specialized upstream Engineering Data Tables featuring the Drill Bit Classifier, Tubing Tables and more. Get Total Access today.


2013 Fracturing Technology

2013 Fracturing Technology