World Oil Demand Expected to Rise in 2006

[IndyDoug]

World Oil Demand Expected to Rise in 2006

China View, 17 December 2006

VIENNA, Dec. 16 (Xinhuanet) -- The Organization of Petroleum Exporting Countries (OPEC) said on Friday that world demand for crude oil will increase to 84.9 million barrels per day (mb/d) in 2006.

The world economy enters 2006 in very good health and the expected 1.9-percent increase in oil demand next year is due to a fast economic growth, OPEC said in its December report released here on Friday.

Even though the price for energy continues to stay high, demand for OPEC crude oil reaches 28.8 mb/d this year, a rise of 0.6 mb/d from last year. The average demand for OPEC crude oil is expected to be 28.7 mb/d in 2006.

Meanwhile, the average increase in the supply of non-OPEC oil is expected to reach 50.2 mb/d by the end of 2005, an increase of 0.4 mb/d over 2004. In 2006, non-OPEC oil supply is estimated to see an increase of 1.4 mb/d over 2005 to 51.6 mb/d.

The 11 OPEC members, producing more than a third of the world total crude oil, supplied 29.97 mb/d in November, a drop from 30.05 mb/d in October. Enditem
http://news.xinhuanet.com/english/2005-12/...ent_3933727.htm

[tripp]

The big question is how much higher can we ramp up production in existing fields and how much more are we going to be able to find. All of the easy oil has been found and put into production. Appearently more and more of the oil coming out of Saudi and Kuwait is heavy crude, which is harder to refine than the light stuff that has been the norm there up to this point. That sad part is that CO2 output is probably going to go up as oil becomes more scarce unless we pull our collective head out of our collective ass and get viable alternatives on line.

[roach52osu]

Originally posted by tripp@Dec 17 2005, 07:57 PM
The big question is how much higher can we ramp up production in existing fields and how much more are we going to be able to find. All of the easy oil has been found and put into production. Appearently more and more of the oil coming out of Saudi and Kuwait is heavy crude, which is harder to refine than the light stuff that has been the norm there up to this point. That sad part is that CO2 output is probably going to go up as oil becomes more scarce unless we pull our collective head out of our collective ass and get viable alternatives on line.

[snapback]174973[/snapback]

It would be nice to see some alternatives reach market soon, I know a few people at work who at first seemed generally indifferent to my prius order have slowly become mor eand more interested. Most seem to have started to come to the conclusion that things are not going to get better as far as supply and demand are concerned which puts more weight on their fuel expenses. Add to that the environmental aspect of alternatives and I see even more people starting to see the idea of alternative fuels and hybrid cars a more mainstream idea. It is nice to see people coming around and allowing their viewpoint to change. Now if it will be too little to late will remain to be seen.

[Andy Ling]

Originally posted by tripp@Dec 17 2005, 07:57 PM
The big question is how much higher can we ramp up production in existing fields and how much more are we going to be able to find. All of the easy oil has been found and put into production. Appearently more and more of the oil coming out of Saudi and Kuwait is heavy crude, which is harder to refine than the light stuff that has been the norm there up to this point. That sad part is that CO2 output is probably going to go up as oil becomes more scarce unless we pull our collective head out of our collective ass and get viable alternatives on line.

[snapback]174973[/snapback]

Hey, dont include me in this collective! I'd rather ride a bicyle.(horses give off turd). Seriousely, the limited oil inventory worldwide should be considered a major
concern for all mankind. We need non-polluting alternative energy sources. We need to invest more into such fields. I am sure that, by the end of this century, we will have tapped into totally renewable energy resources. Everything will run on non-polluting energy cells. I am always thinking that the ultimate energy source will be our sun. The giver of life and death on earth as we know it.

[daniel]

"World oil demand expected to rise."

EXPECTED???????

Kinda like saying the sun is expected to rise tomorrow, or W. is expected to tell us another lie tomorrow.

Sheesh!

[tripp]

Undoubtedly new forms of energy will be the dominant ones by the end of this century. The big question is can we wean ourselves off of oil before we start fighting each other for it. There are a ton of positives that suggest that the answer is yes. The average joe needs to be roused out of complacency (I'm sure I just mauled that word). Like roach pointed out more people are becoming aware of the possibilities and the pitfalls of our current energy regieme.

[TonyPSchaefer]

Originally posted by roach52osu@Dec 17 2005, 07:36 PM
It would be nice to see some alternatives reach market soon. . .

[snapback]174990[/snapback]

Like the electric motor patented in 1860.
Like regenerative braking systems patented in 1888.
Like electric vehicles which were in equal supply to ICEs in 1900.
Like air and hydro electric generators that have been around for decades.
Like biofuel which has been been used in small populations for decades.

I don't claim to know everything - or even a lot of things - but I've read enough to know that alternative energy sources have existed and have been squashed for a very, very long time.

[DaveinOlyWA]

read an article (probably a post here i believe...dont remember exactly now) that these current low prices are only because of the hurricanes we had. the prices were artificially lowered so as not to create panic or hardship when trying to buy gas and heat one's home. (published reports of record oil company profits at the onset of winter no doubt also played a large part)

iow, this spring the temperatures will not be the only thing rising. they predicted a national average of $3.15 a gallon by memorial day.

i also posted a thread about Ford's new extended size SUV... obviously designed because of the current gas prices were are experiencing. it is not even going to be debuted until 2007... which i believe is a good thing since by then, they will know its a mistake and will have the chance to change their minds which will only create more dissention amongst the engineering ranks there since that will only confirm the engineering team's suspicions that they were wasting their time building an oversized SUV in the first place.

[QED]

Originally posted by IndyDoug@Dec 17 2005, 01:50 PM
World Oil Demand Expected to Rise in 2006

The fun of gas guzzling cars used to be our little secret!!

Now the whole world wants one!!!!

I told you not to tell anybody.

[fshagan]

Originally posted by daniel@Dec 17 2005, 07:34 PM
"World oil demand expected to rise."

EXPECTED???????

Kinda like saying the sun is expected to rise tomorrow, or W. is expected to tell us another lie tomorrow.

Sheesh!

[snapback]175045[/snapback]

Their timeline is the short term, so what they are saying is that it will increase next year. If a recession comes, you can have a couple of years of reduced demand. China is using more energy as she comes out of her relative slumber, so I suspect we'll see these numbers even if the US and Europe slide into a recession, but that's a relatively new phenomon ... in the past, if our demand fell, it affected the entire world demand (since the US and Europe were the major portion of the oil demand.)