Shifting production trends point to more oil from OPEC

Journal Article · Mon Dec 26 04:00:00 EST 1994 · Oil and Gas Journal; (United States)

OSTI ID:7016390

Ismail, I A.H. ^[1]

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1. Organization of Petroleum Exporting Countries, Vienna (Austria)

Oil production from the Organization of Petroleum Exporting Countries and non-OPEC regions has undergone four major phases of change in relation to oil price since 1960. Patterns visible in those phases offer an indication of world-wide production trends in the future. These four phases are described. Overall, demand for oil during 1960--93 has increased from around 20 million b/d in 1960 to as high as 65 million b/d in 1993. The consensus among energy analysts and forecasters is that this demand growth will continue. This will encourage OPEC and non OPEC producers to invest in the oil industry to meet future demand growth. However, since the resource base is larger in OPEC than in non-OPEC areas, and since the cost of developing these resources is lower in OPEC than outside OPEC, the future call on OPEC oil to meet growth in demand will undoubtedly be substantiated as production from the non-OPEC region diminishes or at best stagnates. The paper discusses OPEC production trends, non-OPEC production, natural gas liquids, future production scenarios, and future constraints on production.

• OSTI ID: 7016390
• Journal Information: Oil and Gas Journal; (United States), Journal Name: Oil and Gas Journal; (United States) Vol. 92:52; ISSN OIGJAV; ISSN 0030-1388
• Country of Publication: United States
• Language: English

Related Subjects

02 PETROLEUM
020700* -- Petroleum-- Economics
Industrial
& Business Aspects
29 ENERGY PLANNING, POLICY, AND ECONOMY
292000 -- Energy Planning & Policy-- Supply
Demand & Forecasting
294002 -- Energy Planning & Policy-- Petroleum
COMPILED DATA
DATA
DEMAND
ENERGY DEMAND
ENERGY SOURCES
ENERGY SUPPLIES
FLUIDS
FORECASTING
FOSSIL FUELS
FUELS
INFORMATION
INTERNATIONAL ORGANIZATIONS
LIQUIDS
NATURAL GAS LIQUIDS
NUMERICAL DATA
OIL-EXPORTING COUNTRIES
OPEC
PETROLEUM
PRODUCTION
RESERVES
RESOURCES