[khebab]

Short-Term Energy Outlook – June 2005

$this->bbcode_second_pass_quote('', 'S')everal factors are contributing to the expectation of continued high crude oil prices. First, worldwide petroleum demand growth is projected to remain robust during 2005 and 2006, although not as strong as in 2004, despite high projected oil prices. Worldwide oil demand is projected to grow at an annual average of 2.1 million barrels per day in 2005 and 2006, representing a 2.5-percent annual average growth rate compared with 3.2 percent growth in 2004. Chinese demand growth, which averaged about 1 million barrels per day in 2004, is projected to be slower but still robust at an annual average of 600,000 barrels per day in 2005 and 2006 (this is a slight downward revision from the previous Outlook). Second, expected growth in non-OPEC supplies is not expected to accommodate worldwide demand growth. Non-OPEC supply is projected to grow by an annual average of 0.8 million barrels per day during 2005 and 2006, below annual average growth in the 2002 through 2004 period. Third, worldwide spare crude oil production capacity has recently diminished; in practice, only Saudi Arabia has any available spare production capacity. Despite expected capacity additions in Saudi Arabia and other Persian Gulf countries in 2005 and 2006, spare capacity is not projected to grow significantly over the next 2 years. Fourth, downstream sectors, such as refining and shipping, are expected to remain tight. Finally, geo-political risks, such as the continued insurgency in Iraq, are expected to keep the level of uncertainty in world oil markets high.

[Taskforce_Unity]

Saudi Arabia has spare capacity... Yeah whatever? According To whom?

[Raxozanne]

$this->bbcode_second_pass_quote('Taskforce_Unity', 'S')audi Arabia has spare capacity... Yeah whatever? According To whom?

[Taskforce_Unity]

I surely wish i had an ever replenishing sea of oil in my backyard

[nth]

$this->bbcode_second_pass_quote('Taskforce_Unity', 'I') surely wish i had an ever replenishing sea of oil in my backyard

[Tanada]

$this->bbcode_second_pass_quote('nth', '')$this->bbcode_second_pass_quote('Taskforce_Unity', 'I') surely wish i had an ever replenishing sea of oil in my backyard

[Taskforce_Unity]

$this->bbcode_second_pass_quote('nth', '
')
On another note, did you hear that Iraq is about to bump up its reserves by 100billion barrels by 2007?

[nth]

$this->bbcode_second_pass_quote('Taskforce_Unity', '')$this->bbcode_second_pass_quote('nth', '
')
On another note, did you hear that Iraq is about to bump up its reserves by 100billion barrels by 2007?

[khebab]

$this->bbcode_second_pass_quote('Taskforce_Unity', '')$this->bbcode_second_pass_quote('nth', '
')
On another note, did you hear that Iraq is about to bump up its reserves by 100billion barrels by 2007?

[nth]

$this->bbcode_second_pass_quote('khebab', '')$this->bbcode_second_pass_quote('Taskforce_Unity', '')$this->bbcode_second_pass_quote('nth', '
')
On another note, did you hear that Iraq is about to bump up its reserves by 100billion barrels by 2007?

[savethehumans]

Saudi Arabia has plenty of spare capacity--of SAND!

Seriously, folks, no one here is really taking anything they're saying as truth, right? Right??

[nth]

$this->bbcode_second_pass_quote('savethehumans', 'S')audi Arabia has plenty of spare capacity--of SAND!

Seriously, folks, no one here is really taking anything they're saying as truth, right? Right??