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OPEC forecasts record US oil supply growth in 2013

CS Monitor -- The Organization of Petroleum Exporting Countries in its report for January said the United States in 2013 may post the highest oil supply increase among non-member states. U.S. oil production should increase by 490,000 barrels of oil per day this year to reach an average of 10.4 million bpd. OPEC said much of the production increase should come from more drilling in the Gulf of Mexico and the oil boom under way in North Dakota. Production from member states Iran, Iraq and Saudi Arabia, meanwhile, declined.

Overall, world oil demand for 2013 remains unchanged according to OPEC at 800,000 bpd. The cartel, however, said it expected a marginal decline of 200,000 bpd compared to 2012 for OPEC crude. The modest adjustments follow estimates from OPEC that the global economy will grow by 0.2 pe


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Submitted Jan 18, 2013 By: bar1035
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REPLIES (newest first) Post a Reply
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Number43
Champion Author Lexington

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Message Posted: Jan 20, 2013 5:14:45 AM

Drill baby DRILL !
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SkooterG
Champion Author Phoenix

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Message Posted: Jan 19, 2013 5:19:07 AM

Interesting turn of events.
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DrGasPain
All-Star Author Dallas

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Message Posted: Jan 19, 2013 12:05:53 AM

All this good oil patch news, must be due to policies and encouragement from Obama, right? OH I think I meant IN SPITE OF THE EFFORTS OF OBAMA!

Think of where we would be if we had an administration that encouraged oil exploration and prduction.
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Wierbe
Champion Author Cincinnati

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Message Posted: Jan 18, 2013 11:48:52 PM

So, will OPEC invite us to join their private club?
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lesndave
Champion Author Texas

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Message Posted: Jan 18, 2013 10:38:24 PM

Here's hoping
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Blue48
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Message Posted: Jan 18, 2013 9:55:52 PM

HOPE SO!
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bojiway1
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Message Posted: Jan 18, 2013 9:55:51 PM

I hope so
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OGW
Champion Author London

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Message Posted: Jan 18, 2013 9:55:26 PM

OPEC will cutback on some production to keep world prices high.
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tco9436
Champion Author Connecticut

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Message Posted: Jan 18, 2013 9:52:43 PM

show us the savings!!!!!!!!
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ericbcire
Champion Author Nevada

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Message Posted: Jan 18, 2013 9:39:29 PM

Demand keeps dropping.
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Jeff1944
Champion Author South Dakota

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Message Posted: Jan 18, 2013 9:39:24 PM

Great news for the USA. The Saudi's are our enemy, not our ally.
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Tigrelily
All-Star Author Illinois

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Message Posted: Jan 18, 2013 9:34:58 PM

Time will tell.
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g747
Champion Author Mobile

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Message Posted: Jan 18, 2013 9:32:43 PM

Sounds good,but why are our prices so high ?
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mahkokhan
Champion Author British Columbia

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Message Posted: Jan 18, 2013 9:32:16 PM

this is all very well, yet i have to question the sanity of the people making these decisions.
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mrbee
Champion Author Little Rock

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Message Posted: Jan 18, 2013 9:31:50 PM

The US grows and Opec slides. Sounds good to me.
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1Casey
Champion Author Albany

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Message Posted: Jan 18, 2013 9:29:22 PM

$peculation,
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#12#_vabchusa
Champion Author Virginia

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Message Posted: Jan 18, 2013 9:28:59 PM

And we get jacked up again
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AC-302
Champion Author Los Angeles

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Message Posted: Jan 18, 2013 9:28:58 PM

Obama will be helping us to stymie our oil supply soon enough. Wait and see.
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Lizzylou
Champion Author Stockton

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Message Posted: Jan 18, 2013 9:28:25 PM

AGREE speculators will keep the prices high!
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DeeLA
Champion Author Los Angeles

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Message Posted: Jan 18, 2013 9:28:07 PM

Okay.
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pastorpaulcg
Champion Author Virginia

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Message Posted: Jan 18, 2013 9:23:11 PM

Not if Obama has anything to do with it
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TDIdave
Champion Author California

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Message Posted: Jan 18, 2013 9:20:14 PM

And the GOP still rabidly tries to brand Obama as anti-oil. Idiots.
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Elaine4411
Champion Author Pennsylvania

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Message Posted: Jan 18, 2013 9:17:01 PM

It sure would be nice of they could pass some savings on to us, the consumers.
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BBHybrid
Champion Author Pittsburgh

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Message Posted: Jan 18, 2013 9:16:15 PM

we have plenty but we export and buy from OPEC. WTF
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DustyHorse
Champion Author Virginia

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Message Posted: Jan 18, 2013 9:15:57 PM

The speculators will somehow spin this to justify keeping prices inflated.
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firefly09
Champion Author San Diego

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Message Posted: Jan 18, 2013 9:15:16 PM

So why don't we use our oil and lower gas prices?
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listerone
Champion Author Boston

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Message Posted: Jan 18, 2013 9:10:00 PM

Let's smash OPEC!
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Bleeder
Champion Author Virginia

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Message Posted: Jan 18, 2013 9:04:14 PM

Good for us.
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midnightsdc
Champion Author Ontario

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Message Posted: Jan 18, 2013 9:02:09 PM

Good idea number
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Number43
Champion Author Lexington

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Message Posted: Jan 18, 2013 9:00:18 PM

If obummer doesn't sign an executive order to stop it.
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Number43
Champion Author Lexington

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Message Posted: Jan 18, 2013 8:59:10 PM

We eed to find a way to stop speculation. Maybe tax the hellout of them.
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Number43
Champion Author Lexington

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Message Posted: Jan 18, 2013 8:58:06 PM

Still the price keeps going up.
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iamforiu
Champion Author Indiana

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Message Posted: Jan 18, 2013 8:54:08 PM

ok
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jad1960
Champion Author Gary

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Message Posted: Jan 18, 2013 8:53:44 PM

The rate they are going record gas prices also.
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amearly
Champion Author Michigan

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Message Posted: Jan 18, 2013 8:52:47 PM

And yet we will still conitune to import more ??
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brprven
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Message Posted: Jan 18, 2013 8:52:13 PM

Great
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sit
Champion Author Cleveland

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Message Posted: Jan 18, 2013 8:49:26 PM

a CRYSTAL BALL.
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MotoDad
Champion Author Phoenix

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Message Posted: Jan 18, 2013 8:49:08 PM

I need to buy stock in oil companies.
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zaq001
Champion Author Atlanta

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Message Posted: Jan 18, 2013 8:47:57 PM

Oh magic eight ball please tell us the truth
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AKmailman
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Message Posted: Jan 18, 2013 8:47:52 PM

opec will find buyer in china
or sell their golden toilets
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mplato
Champion Author Columbia

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Message Posted: Jan 18, 2013 8:46:14 PM

good for us bad for opec...
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jackster111
Champion Author North Carolina

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Message Posted: Jan 18, 2013 8:45:03 PM

time will tell
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TopGunn
Champion Author Baltimore

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Message Posted: Jan 18, 2013 8:44:53 PM

Okay with me.
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DrZNY
Champion Author Albany

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Message Posted: Jan 18, 2013 8:41:21 PM

Good
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IUVidiot
Champion Author Indiana

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Message Posted: Jan 18, 2013 8:39:34 PM

ok
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gass12
Champion Author Omaha

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Message Posted: Jan 18, 2013 8:28:48 PM

We need help at the pumps.
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heysailor
Champion Author Pittsburgh

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Message Posted: Jan 18, 2013 8:27:22 PM

Prices will still go up
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1COR1533
Champion Author San Jose

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Message Posted: Jan 18, 2013 8:26:46 PM

the green effect again
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RAC110
Champion Author Massachusetts

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Message Posted: Jan 18, 2013 8:25:08 PM

does not seem to lower gas prices much
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eye-spy
Champion Author Quebec

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Message Posted: Jan 18, 2013 8:24:52 PM

No matter what, the price at the pump is the bottom line!!
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