The Origin Of Challenge

Commercial media, professional journals1, magazines and institutions2 normally focus on reserves and resources, an over-simplification of factors that affect supply. This work includes a sensitivity analysis to identify the critical factors among the variables; demand growth, exploration potential, OPEC reserves, OPEC outtake growth, reserve growth and yearly developed reserves (Figure 8). The Base Case is set to: OPEC outtake growth 4% (compared to the present average of some 3%), demand growth 1.6% similar to the

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