22.11.2012 - Michael Levi : What OPEC thinks about the U.S. oil boom
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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