EIA: World will be more dependent on Opec oil
The world will become more dependent on Organization of the Petroleum Exporting Countries (Opec) oil by the start of 2011, following sustained surplus production capacity and a forecasted decline in growth from countries outside the producer group, says the US Energy Information Administration (EIA).
Opec surplus crude oil production capacity, which averaged 2.8 million barrels per day (bbl/d) during 1998–2008, is predicted to remain high [above current levels], with market share seen at 42% in 2011, as a result of low growth in non-Opec supply, said the EIA in its monthly short-term energy outlook report.
"Although Opec faces a global oil market that has firmed in response to its production
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