Oil: the beginning of the end?

Oil production in non-OPEC countries will decline "just after 2010", warns IEA

The International Energy Agency (IEA) is not alarmist, but it is beginning to prepare public opinion for a disappointing tomorrow: shortly after 2010, the production of States which are not members of the Organization of oil exporters (OPEC) is expected to start declining. This pessimistic forecast will be one of the messages that the agency responsible since 1974 for defending the interests of consumer countries will launch in its annual report “World Energy Outlook 2005” made public on November 7.

The “non-OPEC” include large producers such as Russia, China, the United States, Mexico, Kazakhstan, Azerbaijan and Norway and today provide 60% of world crude. "The production of conventional oil - excluding heavy oils and bitumen - will reach a ceiling just after 2010," explains Fatih Birol, director of economic studies at the IEA. The production profile for the future will depend on technology, prices and investments. "

Read also:  14 countries adopt tax on airline tickets

Read more

Leave comments

Your email address will not be published. Required fields are marked with *