Would you like to start a free subscription?
Remember me | Forgot password
For full content view: Log in Now!
Global oil supply continued to fall in April, dropping by 530,000 bopd to 86.11 million bpd on North Sea outages, lower FSU output and weaker OPEC supplies. IEA has lowered its global oil demand forecast for both 2007 and 2008, to 85.8 million bpd (up 1.1% from the previous year) and 86.8 million bpd (up 1.0%) respectively. OPEC supply averaged 36.8 million bpd, 255,000 bpd below March. Indonesia is considering withdrawing from OPEC since the nation’s production has fallen. Meanwhile, Brazil recently announced its plans to bring the potentially massive Carioca Field onstream in 2010 and has express interest in joining OPEC.
West Texas Intermediate (WTI) crude oil spot prices increased from $101 to $120 per barrel over the first three weeks of April, averaging out at $112.58 per barrel for the month. Oil prices have continued to steadily increase in May, reaching as high as $133 per barrel as of this printing.
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.
Bucharest - April 28-30
Houston, TX - May 5-8
Savannah, GA - May 5-8
All material subject to strictly enforced copyright laws.
© 2014 World Oil. © 2014 Gulf Publishing Company.