VOL. XLVI

No 45

10-November-2003

SUPPLY/DEMAND

IEA Investment Outlook Sees Middle East Outlay As Vital

Investment of over $3 trillion will be needed in the global oil industry through to 2030, according to the World Energy Investment Outlook (WEIO) published by the International Energy Agency (IEA) on 4 November (MEES, 3 November). This outlay would permit an increase in world oil supply from 77mn b/d in 2002 to 120mn b/d in 2030. The WEIO says: The share of the Middle East in total upstream...