World: Countries Outside Opec Will Supply the Market With Less Oil in 2005
Posted on: Wednesday, 17 August 2005, 12:00 CDT
World: Countries outside Opec will supply the market with less oil in 2005 than the earlier estimates stated. This means that Opec will have to supply the missing oil to the market for record prices
. However, Opec is mining near its maximum capacities. This information was provided by the International Energy Agency in Aug 2005. IEA also slightly increased its 2005 and 2006 estimates of the growth in demand for oil by 1.6 mil barrels/d and 1.78 mil barrels/ d, respectively. IEA is the power issues advisor for 26 industrial countries including the Czech Republic.Source: Access Czech Republic Business Bulletin
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