Tiber Discovery Will Not Impact Global Supply & Demand for Oil

The ‘Tiber’ discovery by BP in the Gulf of Mexico will not have any impact on the global supply and demand for crude oil all by itself.

By the time it comes on-stream in the later part of the next decade numerous other oil fields would have been depleted and it will only help in keeping the decline rate from decreasing rapidly.

However, if we consider the numerous other discoveries and projects now in the planning stages, there could be less demand for imported crude oil in the US.

Gerson Lehrman Group