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Commodities Briefing - Categorized | Oil, Resources more

Why can’t we produce more oil?

Posted on 09 November 2011

This week, the two rival powers of the oil market, OPEC and the IEA, will publish their new long-term forecasts. Among all the data backing up their competing visions for the future, observers will be looking for the answer to a very important question: Why can’t the world produce more crude oil?
After years of historically high prices, oil production has barely budged above its level of just over 80 million barrels a day reached in 2004………………………………………..Full Article: Source


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VRS - who has written 34604 posts on Opalesque Commodities Briefing.


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