Oil: The Next Revolution (Maugeri)

Oil: the next revolution – The unprecedented upsurge of oil production capacity and what it means for the world by Leonardo Maugeri, indicated by Dilva Ribeiro (06/2012). “Contrary to what most people believe, oil supply capacity is growing worldwide at such an unprecedented level that it might outpace consumption. This could lead to a glut of overproduction and a steep dip in oil prices… The oil market is already adequately supplied with spare capacity of around 4 mbd. This should be able to absorb a major disruption even from a major oil producer like Iran. Furthermore, global production capacity is regularly surpassing demand, in spite of the political and infrastructural problems of several producing countries.”