11

nov   11

WEO 2011 HAS IRAQ DRIVING FUTURE OPEC PRODUCTION INCREASE
AUSTRIA




Vienna - According to the IEA's latest World Energy Outlook report OPEC production is set to reach 2.9m barrels per day by 2015, going from 23.8m in 2010 to 26.7m. By 2035 total output is projected at 36m barrels per day, largely on account of non-conventional oil and of natural gas liquid fractions. The forecasts rate OPEC's increasing share of global production at 51pc in 2035 (from 2010's 42pc. Iraq is expected to deliver the biggest increase in output, trebling its current 2.5m barrel per day output to 7.7 (+5.2).