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Gold/Mining/Energy : Strictly: Drilling and oil-field services -- Ignore unavailable to you. Want to Upgrade?

To: RealMuLan who wrote (31906)	11/18/1998 12:03:00 AM
From: upanddown	Respond to of 95453

But OPEC only counts for about 55% of oil production in the world. What about the other 45%? Yiwu, actually OPEC is only about 40% of world production, maybe 30MBD of 75MBD production eia.doe.gov It is one of the strangest aspects of a strange business. I have never understood why the onus is strictly on OPEC to bring supply and demand into balance. Has the Alaskan pipeline flow been reduced ? Have production platforms in the GOM curtailed production ? As far as I know, they have not. But why should they ? Hell, it is all OPEC's fault. I don't know of any other business plagued by overproduction in which only a minority of the business is supposed to deal with the problem. John