Middle East Economic Survey


No 47



OPEC Oil Production Capacity To Reach 33Mn B/D By End-2006, Says IEA

OPEC capacity increases are expected in the coming months which will take total capacity to 32.1mn b/d at the end of 2005 and 33mn b/d by end-2006, according to the IEA. In the latest monthly Oil Market Report, published on 10 November, the agency said that OPEC itself had announced plans to have 38mn b/d-plus of crude capacity in place by the end of...