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137 comments on Oilwatch Monthly - August 2008

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Rembrandt on August 17, 2008 - 4:41pm Permalink | Subthread | Parent | Comments top

@Nate

Given that most of the incremental new conventional production comes from Saudi Arabia, and almost all from the middle-east, I wouldn't be too sure about this being a sustained uptrend. Especially given the production decreases in Saudi-Arabia/Middle-east that preceded this uptrend.

It also makes it unlikely that a large share is from 'new' production.

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davebygolly on August 18, 2008 - 12:16am Permalink | Subthread | Parent | Comments top

Given that most of the incremental new conventional production comes from Saudi Arabia, and almost all from the middle-east...

Hm. And we exclude the possibility some (or all) of this is being diverted from Iraq?

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SNOMM on August 18, 2008 - 1:08pm Permalink | Subthread | Parent | Comments top

If one takes the numbers from the EIA, it looks as if these production increases are only a short reaction to higher prices. They show a peak in october 2007 and during 2008, the production increases loose their speed. I think that with ever higher prices, we will see several of those temporary production increases, which will level of over time and at a certain moment will no longer compensate the underlying trend.

Production increases from the EIA

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137 comments on Oilwatch Monthly - August 2008

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