No 22



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...