Non-Opec output slows
- Middle East: Thursday, July 10 - 2008 at 07:41
Oil supplies from non-Opec countires will be far smaller this year than previously expected and unable to keep up with growing global oil demand, according to the US government's top energy forecasting agency. Non-Opec oil supplies are projected to rise by only 230,000 barrels per day this year and by 830,000 bpd in 2009, far below the agency's estimate at the beginning of the year, the US Energy Information Administration (EIA) said. Supply growth has been limited by faster declines in older fields and delays in expansion projects, reported Reuters.
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