No. 34



IEA Forecasts 670,000 B/D Rise In Non-OPEC Oil Supply In 2001

The International Energy Agency (IEA), in its Monthly Oil Market Report for August, says non-OPEC oil supply is forecast to rise by 670,000 b/d over the 45.96mn b/d expected for 2000 to reach 46.62mn b/d in 2001 (see table), with growth driven by new fields and field expansions coming on stream, many of which are offshore. Incremental output from these developments is expected to more than offset...