Middle East Economic Survey

VOL. XLVIII

No 31

1-August-2005

Supply Bottleneck Emerging, Warns FACTS

While global oil demand continues to grow strongly, a supply side bottleneck is emerging, according to Honolulus FACTS Inc. At the 10th Asia Oil and Gas Conference in Kuala Lumpur on 12-14 June, FACTS President Fereidun Fesharaki and analyst Alexis Aik presented a paper which warned that the oil industrys supply/demand balance was no longer in its usual cycle pattern: We are in a new plateau....