Friday June 17, 2005

Oil balance scale swinging negative

energybulletin.net -> theoildrum.blogspot.com

As the picture is starting to develop for global oil supplies this winter many of the discussions seems to focus on the overall size of the demand/supply levels. And when you are talking about numbers on the order of 85 mbd a variation of 100,000 bd is not a very large number. Thus the seeming risks of small changes in production are not evident.

However if we focus more narrowly on the likely difference in range between available supply and overall demand, then the range between potential oversupply and shortage is somewhere in the region of 1 mbd or less ... a hundred thousand barrels here, a hundred thousand there. Pretty soon it adds up to a real shortage.

For while the major members that can increase oil production in OPEC are doing so, their number is small and some cannot increase at all, and others are declining. In this context, the recent announcement from Iraq is the most troubling ...

(2005-06-17 12:53:22 SGT) [Energy] Permalink

Most popular blog postings on lowem.log :

1. Singapore MRT rail network length to double by 2020
2. 2010 Nissan Leaf electric car specifications : 107hp, 24KWh lithium-ion batteries, 100-mile range
3. Live spot gold price quotes chart on COMEX
4. 2010 Toyota Prius specifications released : 50 mpg, 1.8L, 134hp, Ni-MH, solar roof option
5. AVG Anti-Virus Free Edition 2011 direct download link
6. Real-time live gold and silver price quotes chart on COMEX
7. Singapore electric vehicles : Government agencies EMA and LTA to study EV introduction
8. Book review : Shut Down by William Flynn

Featured articles on lowem.log :

1. Book review : Shut Down by William Flynn
2. Singapore electric cars testing starts with 9 electric vehicles
3. Honda, GS Yuasa JV to make lithium-ion batteries for 2010/2011 Honda Civic Hybrid
4. 2010 Honda Civic Hybrid preliminary specifications released
5. 2010 Honda CR-Z hybrid, 2010 Honda Fit/Jazz hybrid models confirmed
6. 2010 Toyota Prius specifications released : 50 mpg, 1.8L, 134hp, Ni-MH, solar roof option
7. NYMEX crude oil recovers from $32.40 low after 2.2 mbpd OPEC production cut announced
8. Singapore : Nuclear power not ruled out