As global gas production rises, so does that of condensate. In a world already oversupplied with crude oil, the upsurge in gas liquids could pose a major problem for producers of both crude and condensate, depressing the price of each as producing countries compete to sell their output. Most of the world s internationally traded condensate is produced by countries belonging to OPEC-principally by its Middle Eastern and North African members-but increasing volumes have become available from elsewhere, notably the US and Australasia, and from a variety of other countries, including Canada, Russia, China, Thailand, and Pakistan.
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