EIA Report Shows OPEC Producing 36.9 Mln B/D by 2010

The U.S. Energy Information Administration, in its annual energy outlook, sees OPEC increasing oil production to 36.9 million barrels per day by 2010, which is slightly higher than its forecast last year of 35.8 million barrels per day.

In a news briefing Monday, the head of the energy statistics agency noted that the number reflects Saudi Arabia successfully meeting its target to increase production capacity to 12.5 million barrels per day by late 2009.

“We’re counting on the Saudis to make their 12.5 capacity target,” said EIA Administrator Guy Caruso.
Schlumberger