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Michael Levi : What OPEC thinks about the U.S. oil boom

Posted on 22 November 2012

One can also infer projections for spare capacity through 2016 from the OPEC report. OPEC estimated its spare capacity at a smidge less than 4 mb/d during 2011. (This number is slightly misleading for some purposes, since a good part of it couldn’t have been brought online quickly, but it’s the right number for the issue we’re looking at.)
OPEC estimates a gain of 1.2 mb/d in its production from 2011-16 but an increase in its liquids capacity of 5 mb/d over the same span. That means an increase in spare capacity of 3.8 mb/d, taking it to a whopping 7.8 mb/d………………………………………..Full Article: Source


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