Washington considers a decline of world oil production as of 2011 | oil Man - 0 views
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rune66 on 04 Nov 11"The DoE predicts that the decline of identified sources of supply will be steady and sharp : - 2 percent a year, from 87 million barrels per day (Mbpd) in 2011 to just 80 Mbpd in 2015. At that time, the world demand for oil and other liquid fuels should have climbed up to 90 Mbpd, according to the presentation document. "Unidentified" additional liquid fuels projects would therefore have to fill in a 10 Mbpd gap between supplies and demand within less than 5 years. 10 Mbpd is almost the equivalent of the oil production of Saudi Arabia, world top producer with 10.8 Mbpd."