Oil Economist Says Depletion Could Cause Winter Shortfall

Upbeat projections of rising global oil output are underplaying oil field depletion rates, masking what could amount to a worrying 2.3% supply shortfall this winter, a leading oil economist said Wednesday.

Leading the shortfall is a rapid rate of decline in output from oil fields outside the Organization of Petroleum Exporting Countries, said Chris Skrebowski, former analysts for a unit that was later incorporated into Saudi state oil company Saudi Aramco and now editor of the Energy Institute’s Petroleum Review.
Schlumberger