The Oil Drum

Perhaps to counter the less glowing report on long-term production that we discussed last week, it may be interesting to note how the Saudi Petroleum and Mineral Resources Minister Ali Naimi outlined them at the recent meeting in South Africa.  The report comes from Petroleumworld which, interestingly, makes a statement at the end of the article that it does not necessarily share the minister's views.  However, when we put this against some of the numbers from the EIA further down the piece, you will see that perhaps it is wise to be a little concerned.  (Although production numbers often increase a bit when they are finally reconciled with reality, rather than an estimate).