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Politics : Rat's Nest - Chronicles of Collapse -- Ignore unavailable to you. Want to Upgrade?

To: Wharf Rat who wrote (4472)	7/19/2006 1:35:10 AM
From: Wharf Rat	Read Replies (1) \| Respond to of 24210

OPEC: 07 Non-OPEC Oil Supply Seen Highest In Decades LONDON -(Dow Jones)- The Organization of Petroleum Exporting Countries Monday substantially cut the implied need for its members' crude next year, citing a gush of crude from non-OPEC producers that will be at its highest in decades. In its monthly oil market report, OPEC cut the expected need for its crude next year by more than 2% - or almost 700,000 barrels a day - compared with this year, estimating that the world will need some 28.28 million b/d of OPEC crude. That is in part due to a 3.3% rebound in non-OPEC oil flows, or 1.7 million b/d, which the group said was twice the average growth seen in the last six years "and one of the highest in several decades." It pinned this on a raft of exploration and production activity, a rebound in production from Russia and the Caspian, and the startup of large deepwater projects. easybourse.com