New developments affecting the supply of oil to the Free World

Technical Report · Wed Oct 19 04:00:00 EDT 1977

OSTI ID:5023272

Borg, I Y

The objective of this report is to update an earlier assessment of future world oil supply and demand. Recent exploration in Mexico and the North Sea indicates that these areas will contribute more to world supplies than anticipated; in the U.S., delayed leasing schedules and unsuccessful exploration in many areas on the Outer Continental Shelf suggest a production potential below previous expectations; the fact that more and more OPEC nations are setting arbitrary production limits will also affect the future oil supply adversely; and early estimates of future Russian and Chinese exports seem now to have been overly optimistic. In view of these and other new developments that affect worldwide demand for oil, world demand will probably exceed the supply by about 7 million bbl/day in 1990. Seasonal demands and growing markets for specific types of crude oil will create local shortages before that time. Thus, increasing prices and increasing competition for available supplies seem inevitable until syncrudes and other exotic energy sources become available in quantity.

• Research Organization: California Univ., Livermore (USA). Lawrence Livermore Lab.
• DOE Contract Number: W-7405-ENG-48
• OSTI ID: 5023272
• Report Number(s): UCRL-52345
• Country of Publication: United States
• Language: English

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ATLANTIC OCEAN
AVAILABILITY
CONTINENTAL SHELF
DEMAND FACTORS
DOCUMENT TYPES
ENERGY SHORTAGES
ENERGY SOURCE DEVELOPMENT
ENERGY SOURCES
EXPLORATION
FORECASTING
FOSSIL FUELS
FUELS
GLOBAL ASPECTS
INTERNATIONAL ORGANIZATIONS
LEASING
MEXICO
NORTH AMERICA
NORTH SEA
OPEC
PETROLEUM
RESOURCE ASSESSMENT
REVIEWS
SEAS
SEASONAL VARIATIONS
SURFACE WATERS
USA
VARIATIONS