IEA Believes There Will Be Oil Shortage in Second Half of the Year if OPEC Doesn't Step Up Production

8 posts / 0 new
Last post
ewilkerson's picture
ewilkerson
Status: Gold Member (Offline)
Joined: Jul 18 2010
Posts: 390
IEA Believes There Will Be Oil Shortage in Second Half of the Year if OPEC Doesn't Step Up Production

The IEA is saying that there will be an  oil shortage the second half of the year if OPEC can not increase production by 1.5 million barrels.  I have included the post by Jeff Rubin  if you'd like more details:

http://www.jeffrubinssmallerworld.com/2011/07/13/world-oil-markets-face-production-shortfall-in-second-half/

Cheers,

Ernest

SailAway's picture
SailAway
Status: Gold Member (Offline)
Joined: Aug 11 2010
Posts: 404
Oil shortage the second half of the year
ewilkerson wrote:

The IEA is saying that there will be an  oil shortage the second half of the year if OPEC can not increase production by 1.5 million barrels. 

Wow, it seems like every passing day there is a new report with an even sooner shortage forecast. Just yesterday on this thread http://www.peakprosperity.com/forum/goldman-sacks-and-barrons-call-it-peak-oil/60385 we were talking about 2012, now it's the second half of this year!! BTW, we are already in the second half of the year...

 

ewilkerson's picture
ewilkerson
Status: Gold Member (Offline)
Joined: Jul 18 2010
Posts: 390
SailaWay, you are more than

SailaWay, you are more than entitled to your opinion, but I am sorry for whatever reason..  I have no idea what your problem with me is, but why are you bothering stalking every post I make.  I am not perfect, but I have an Econimics Degree and an MBA, and my purpose is to put as much information out there as possible.  We  should all be in this together.

Cheers,

Ernest

SailAway's picture
SailAway
Status: Gold Member (Offline)
Joined: Aug 11 2010
Posts: 404
re: ewilkerson

Ernest,

I was just making some comments on the links you have posted (that I found very interesting) but really it has nothing to do with you. Truly sorry if my wordings made you believe differently.

Cheers,

Fred

 

kaman's picture
kaman
Status: Bronze Member (Offline)
Joined: Apr 24 2009
Posts: 51
OPEC may need/want/endorse a

OPEC may need/want/endorse a shortage to bring the price of a barrel of oil back up after the recent swooning.

agitating prop's picture
agitating prop
Status: Platinum Member (Offline)
Joined: May 28 2009
Posts: 863
kaman wrote: OPEC may
kaman wrote:

OPEC may need/want/endorse a shortage to bring the price of a barrel of oil back up after the recent swooning.

 

Exactly!

frobn's picture
frobn
Status: Silver Member (Offline)
Joined: Nov 28 2010
Posts: 184
It may sound counter

It may sound counter intuitive but as prices decline OPEC supply may increase in the short term. Many of these countries including KSA and Iran need steady oil income to keep their populations from rioting. This will not prevent OPEC from voting to decrease but it will only be a bluff. We will see decreases when OPEC doesn't have the oil to extract and/or when more of what they extract is needed for internal consumption.

ewilkerson's picture
ewilkerson
Status: Gold Member (Offline)
Joined: Jul 18 2010
Posts: 390
Exactly frobn

Exactly frobn!

Ernest

[Moderator's note: Edited to fix all-caps.]

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Login or Register to post comments