Would you like to start a free subscription?
Remember me | Forgot password
For full content view: Log in Now!
In July, global oil supply increased by 890,000 bpd to 87.42 million bpd. Canada and Norway led the way with 300,000-bpd and 150,000-bpd increases respectively. July OPEC crude production increased by 370,000 bpd due to increases in Saudi Arabia, Iran and Nigeria, though about 500,000 bpd of production remains shut in in the latter. IEA estimates that effective OPEC spare capacity is 1.5 million bpd, but should rise in 2009.
By early August, crude prices had fallen $30 per bbl from mid-July highs on weaker OECD demand and increased supplies, and because the first US Gulf hurricanes passed without causing damage.
The international and US rotary rig counts continue to remain high at 1,596 and 1,932, respectively, for July 2008, showing increases of 148 and 155, respectively, over the 2007 numbers.
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.
Bangkok - August 25-27
Houston, TX - August 27-29
Houston, TX - November 4-5
All material subject to strictly enforced copyright laws.
© 2014 World Oil. © 2014 Gulf Publishing Company.