Non-OPEC oil production: The key to the future

Technical Report · Fri May 11 04:00:00 EDT 1990

DOI:https://doi.org/10.2172/6745080· OSTI ID:6745080

Borg, I Y

The dramatic increase in non-OPEC oil production that has occurred since the fuel crises of the seventies was accelerated by the subsequent increases in oil prices on world markets. Current moderate world prices are attributable to increased supply in the last decade from these countries. Among those nations whose production has more than doubled since 1973 are China, Mexico, the UK, Norway, Egypt, India, Oman, Brazil, Colombia, Angola, and Syria. In this context, non-OPEC nations include the Communist oil-producing countries, since their ability to meet their own domestic demand has forestalled the day when they will compete for supplies on world markets. The prospect for continued growth in non-OPEC oil production is good. Prospects for additions to reserves continue to be bright in virgin exploration areas and semimature oil-producing provinces. Non-OPEC oil production may reach peak levels in the 1995--2000 time frame. However, production will be increasingly countered by growing demand, especially in South and Central America and Asia. It is almost certain that by the mid-nineties, competition for oil supplies in world markets will elevate the price of oil available from the well endowed OPEC nations. Supply disruptions as well may be in the offing by the turn of the century as surpluses on world markets disappear. 92 refs., 20 figs., 5 tabs.

• Research Organization: Lawrence Livermore National Lab., CA (USA)
• Sponsoring Organization: DOE/FE
• DOE Contract Number: W-7405-ENG-48
• OSTI ID: 6745080
• Report Number(s): UCRL-LR-103670; ON: DE90014796
• Country of Publication: United States
• Language: English

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