Middle East Economic Survey


No 8



Totals De Margerie Says Crude Output Near Its Peak

The Chief Executive Officer of Frances Total, Christophe de Margerie, said the world will never be able to produce more than 89mn b/d of oil due to high costs in areas such as Canada and political restrictions in countries like Iran and Iraq, the Financial Times reported on 15 February. Mr de Margerie had reportedly revised his own forecast for 2015 oil production downward by at...