Oil: The Next Revolution - The Unprecedented Upsurge of Oil Production Capacity and What It Means for the World
This report presents an analysis of the unprecedented upsurge in global oil production capacity and its implications for the world. It suggests that by 2020, oil supply could surpass demand, potentially leading to a significant price drop.
(Generated with the help of GPT-4)
| Quick Facts | |
|---|---|
| Report location: | source |
| Language: | English |
| Publisher: |
Harvard Kennedy School: Belfer Center For Science And International Affairs |
| Authors: | Leonardo Maugeri |
| Geographic focus: | Global |
Methods
The research method involved a bottom-up, field-by-field analysis of oil exploration and development projects worldwide, adjusted for risk factors on a country-by-country basis.
(Generated with the help of GPT-4)
Key Insights
The research indicates that over 49 million barrels per day (mbd) of new oil production capacity could be added by 2020, which is more than half the current world production. Adjusting for risks, the net additional capacity could be 17.6 mbd, resulting in a total capacity of 110.6 mbd. This growth is driven by a massive investment cycle in oil exploration and production, with significant contributions from unconventional sources like U.S. shale/tight oil, Canadian tar sands, and Brazilian pre-salt oils.
(Generated with the help of GPT-4)
Additional Viewpoints
Categories: English publication language | Global geographic scope | cheap oil | depletion rate | economic impact. | energy | environmental concerns | export capacity | fracking | future oil supplies | geopolitical instability | hydraulic fracturing | hydrocarbon resources | infrastructure | investment cycle | market volatility | natural gas | oil production | opec | original oil | political decisions | pre-salt oil | production capacity | reserve growth | shale/tight oil | shale oil | tar sands | technology | u.s. oil market | unconventional oil