Reuters Business Channel | Reuters.com
OPEC expects to raise production 5 million barrels per day in each of the next 5 years! The numbers do not count any increase in production from Iraq.
One can speculate that OPEC is trying to talk companies out of investments in tar sands and GTL (Gas to Liquid) facilities but production has increased from the Middle East for the past 15 years. Saudi Arabia has ordered 3 more big rigs. They are putting money into exploration and production.
Wednesday, November 02, 2005
Reuters Business Channel | Reuters.com
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