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Production growth in the new estimates will not be as high as the 116 million barrels a day — the IEA’s forecast in 2007 (the current level is at 87 million barrels a day) — but a much pessimistic number. The IEA forecast a gap of 12.5 million bbl a day: a demand for 37.5 bbl a day versus new capacity additions that would produce 25 million bbl...
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Production growth in the new estimates will not be as high as the 116 million barrels a day — the IEA’s forecast in 2007 (the current level is at 87 million barrels a day) — but a much pessimistic number. The IEA forecast a gap of 12.5 million bbl a day: a demand for 37.5 bbl a day versus new capacity additions that would produce 25 million bbl...
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How oil prices are wrecking the economy
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