Middle East Economic Survey
Middle East Producers Set To Add New Oil Production Capacity In 2005
The narrowing buffer of spare production capacity for OPEC oil producers in 2004 refocused interest on oil capacity expansion plans for 2005. Bill Farren-Price reviews major new projects and capacity expansion planned by Middle East producers and finds that not all scheduled new oil capacity will be deliverable in the next 12 months.
Surging global oil demand...