Opec Sees Upstream, Downstream Capacity Surplus on Horizon

摘要

Producer group Opec expects global spare capacity for oil production of around 6 million barrels per day through 2013 and forecasts that the refining industry will have some 5 million b/d of idle capacity for a number of years from 2012. Opec says in its latest World Oil Outlook through 2030, presented on Wednesday, that it sees overcapacity both upstream and downstream in the medium term, despite cancellations and delays of projects. It attributes this to sharply reduced demand for oil.