IEA Chief: OPEC Doesn’t Have 2 Mln B/D Of Spare Capacity

The head of the International Energy Agency questioned Tuesday OPEC’s ability to live up to its offer of an extra 2 million barrels a day of oil.

“OPEC will be able to make more crude available, but it would be less than 2 million, somewhere between 1 and 1.5 million b/d,” IEA Executive Director Claude Mandil told reporters on the sidelines of an industry conference.
Schlumberger