Middle East Economic Survey

VOL. XLVII

No 35

30-August-2004

OPEC

OPEC Net Additions To Reserves Falls Back In 2003, Statistical Bulletin Shows

Net additions to reserves fell back in 2003 to 9.44bn barrels after the strong showing of 33.8bn barrels achieved the previous year, according to recently-published OPEC data. In the organizations 2003 Annual Statistical Bulletin, reserves replacement fell back after reaching levels in 2002 not seen since the 1980s. There was a marked increase in OPEC...