Steady Oil Production
According to Secretary of Energy Spencer Abraham, that 'World oil production is consistent and steady.' As of Mach 20th, OPEC production was 26.5 million barrels per day, according to Energy Information Administration (EIA). The amount is only slightly lower than the last reported figure of 26.9 million barrels per day in November 2002. Despite the loss of all production from Iraq and other production losses from Venezuela and Nigeria, world oil production has remained steady as other oil-producing countries, particularly Saudi Arabia, have significantly increased production and tanker loadings in recent weeks. See the DOE press releases on oil supplies: http://www.eia.doe.gov or http://www.energy.gov/press/sub/hqreleases.html

Last Updated on February 2nd, 2007 6:50 am by admin
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