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47 comments on The Scales are Balanced
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47 comments on The Scales are Balanced
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As far as the 2008 figures go,
Saudi Arabia appears to have reduced production from 9.2 to 9.0 Mbpd already. It will be interesting to see if new megaprojects reverse this again.
Russia has several reports quoted on TOD that in the short term oil production is unlikely to rise much, so I am not confident that we will see significant increases from megaprojects. We all know WestTexas is predicting sharp declines from Russia in the near future.
Russia publishes very transparent and up to date information on their crude oil production here: http://www.riatec.ru/en
They have been declining since December, down a little under 3%, with the data up to date through April 12.