Medium-Term Oil Market Report 2007
By: International Energy Agency
Publisher: OECD Publishing
Published: 2007
Place of publication: Paris
Language: eng
Format: [electronic resource] /
ISBN-13: 9789264037946
Subjects: Force and energy; Power (Mechanics); Power resources
Description: Despite four years of high oil prices, this report sees increasing market tightness beyond 2010, with OPEC spare capacity declining to minimal levels by 2012. A stronger demand outlook, together with project slippage and geopolitical problems has led to downward revisions of OPEC spare capacity by 2 mb/d in 2009. Despite an increase in biofuels production and a bunching of supply projects over the next few years, OPEC spare capacity is expected to remain relatively constrained before 2009 when slowing upstream capacity growth and accelerating non-OECD demand once more pull it down to uncomfortably low levels...