VOL. XLVI

No 44

3-November-2003

SUPPLY/DEMAND

Mackay Says Middle East Producers Put Revenue Before Volume

Middle East oil production will increase to 25.5mn b/d in 2012, an increase of 4.5mn b/d over 2002 output, according to Inverness-based Mackay Consultants. In the report Prospects for the Middle East Oil and Gas Industry After the War in Iraq 2003-2012, published on 23 October, the analyst says that countries in the region would need to limit oil production in order to avoid a collapse in oil...