Iraq
Kuwait
Others in OPEC
OPEC total
Non-OPEC
(excl. Soviet Union)
Average daily
crude oil production
Share of world total (excl.
Soviet Union).
(million barrels)
(*)
3.1
6.4
1.5
3.1
17.9
36.9
22.5
46.4
26.0
53.6
World total
48.5
100.0
(excl. Soviet Union)
3.
producers
Thus the embargo on oil
have indicated that they
exports from Iraq and
Kuwait implies an immediate loss in crude oil supply of at
least 4 million barrels per day. A number of other oil
will increase their
production level to help redress the shortage. But in view
of a variety of technical problems associated with a quick
mobilisation of spare productive capacity, it is most
unlikely that the shortage can be met in full, and if
demand does not shrink a gizeable shortfall will still
Moreover, if the supply from Saudi Arabia cannot
be maintained fully in the face of increasing military
tension in the Gulf area, the shortfall could be even
remain.
creator
F