OPEC pushing limits of oil production capacity

Most members of the Organization of Petroleum Exporting Countries are pushing the limits of their oil production capability, and some probably are finding that their sustainable capacity is not as high as originally thought.

London-based Centre for Global Energy Studies reached that conclusion in its Global Oil Report Market Watch for September-October.

“Indonesia and Venezuela cannot meet their quotas, while Nigeria—which produced at surge capacity earlier this year—finds it must now lock in production at many of its aging fields, proving that its stated capacity is not sustainable,” CGES said.

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