Non-OPEC production plentiful in next 5 years – analyst

Substantial increases in oil production in Africa and the former Soviet Union, along with slowing demand, will put the squeeze on oil cartel OPEC in the next five years, a strategic analyst said on Thursday.

“There’s enough non-OPEC supply to meet demand,” said Sarah Emerson, managing director of Energy Security Analysis Inc.



Emerson said ESAI disagrees with the current conventional wisdom that the world is headed for a long period of high prices and capacity limits in both crude production and refining. Capacity to refine is growing, too, she said.

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