Would you like to start a free subscription?
Remember me | Forgot password
For full content view: Log in Now!
As geopolitical uncertainties have pushed oil prices to new record levels, industry analysts agree that the world's supply cushion has become perilously thin. Their consensus is that whether the amount of spare crude left to pump is 1 million bpd or a greater amount really does not matter. This is because the amount of actual production at risk is even greater. Thus, the mere threat of output disruptions in Iraq, Russia and Venezuela sent crude futures above $46/bbl for the first time on the New York Mercantile Exchange. On Aug. 13, the price of WTI crude surged to $46.58/bbl, an increase of $1.08. Although it set a new record, this price, on an inflation-adjusted basis, was still about $11 below the rate leading up to the first Gulf War. Saudi Arabia said it was willing to put an additional 1.3 million bopd on the market, virtually all of the country's available production. However, some analysts said that such a move would only point up the market's supply limitations.
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.
Wichita Falls, TX - April 22-23
Bucharest - April 28-30
Houston, TX - May 5-8
All material subject to strictly enforced copyright laws.
© 2014 World Oil. © 2014 Gulf Publishing Company.