Gulf States Struggle to Boost Spare Oil Output

Gulfnews – Gulf oil producers are struggling to expand their spare crude output capacity to meet surging global demand and their plans are blocked by manpower shortages, security factors and their ageing oil reservoirs, according to the World Bank.

Such factors have led to a sharp decline in the region’s spare capacity and allied with international demand to keep oil prices at historically high levels, the bank said in a study on the Middle East and North Africa (Mena) region.
Gulfnews