World market can cope with oil outages, but vulnerable, IEA says
The world oil market can cope with current outages, but the security margin is extremely fragile, the International Energy Agency (IEA) said in its monthly review on Friday. "For the time being, the market can cope with current outages, but in the light of the many possible threats to output, including the current hurricane season, there is little doubt that the upstream spare capacity cushion remains thin," said the Paris- based agency in its monthly report.
The oil market, already tense, is confronting currently a burst of bad news: recurrent production problems in Nigeria, where the outages are estimated at 750,000 barrels per day, security situation in Iraq and in Venezuela, the world's fourth largest oil producer, oil industry always hard to recover from the national strikes between 2002 and 2003, said the report. After a leak in the pipelines from BP's Prudhoe Bay field in Alaska was announced last week, the company cut down its production to only one third of its routine production of 400,000 barrels per day.
The IEA said that due to the persistent deterioration of the supply, it seemed surprising that the oil prices were not higher
Fonte:
(People’s Daily Online, Sat 12 Aug)
The world oil market can cope with current outages, but the security margin is extremely fragile, the International Energy Agency (IEA) said in its monthly review on Friday. "For the time being, the market can cope with current outages, but in the light of the many possible threats to output, including the current hurricane season, there is little doubt that the upstream spare capacity cushion remains thin," said the Paris- based agency in its monthly report.
The oil market, already tense, is confronting currently a burst of bad news: recurrent production problems in Nigeria, where the outages are estimated at 750,000 barrels per day, security situation in Iraq and in Venezuela, the world's fourth largest oil producer, oil industry always hard to recover from the national strikes between 2002 and 2003, said the report. After a leak in the pipelines from BP's Prudhoe Bay field in Alaska was announced last week, the company cut down its production to only one third of its routine production of 400,000 barrels per day.
The IEA said that due to the persistent deterioration of the supply, it seemed surprising that the oil prices were not higher
Fonte:
(People’s Daily Online, Sat 12 Aug)
posted by Capitão at 4:41 AM
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