VOL. XLVI
No 22
2-June-2003
SUPPLY/DEMAND
EC Forecasts World Oil Production At 120Mn B/D In 2030
World oil production should increase by about 65% to reach 120mn b/d in 2030, according to a new study by the European Commission (EC). In the World Energy, Technology and Climate Policy Outlook, published on 12 May, the EC says: As three quarters of this increase comes from OPEC countries, OPEC will account for 60% of total oil supply in 2030 (compared with 40% in 2000). The report forecasts that...
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