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OPEC forecasts record US oil supply growth in 2013

CS Monitor -- The Organization of Petroleum Exporting Countries in its report for January said the United States in 2013 may post the highest oil supply increase among non-member states. U.S. oil production should increase by 490,000 barrels of oil per day this year to reach an average of 10.4 million bpd. OPEC said much of the production increase should come from more drilling in the Gulf of Mexico and the oil boom under way in North Dakota. Production from member states Iran, Iraq and Saudi Arabia, meanwhile, declined.

Overall, world oil demand for 2013 remains unchanged according to OPEC at 800,000 bpd. The cartel, however, said it expected a marginal decline of 200,000 bpd compared to 2012 for OPEC crude. The modest adjustments follow estimates from OPEC that the global economy will grow by 0.2 pe

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Submitted Jan 18, 2013 By: bar1035

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Number43 Champion Author Lexington Posts:8,708 Points:1,640,120 Joined:Oct 2008	Message Posted: Jan 20, 2013 4:14:45 AM Ignore Number43 Report Abuse Drill baby DRILL !
SkooterG Champion Author Phoenix Posts:1,359 Points:329,335 Joined:May 2012	Message Posted: Jan 19, 2013 4:19:07 AM Ignore SkooterG Report Abuse Interesting turn of events.
DrGasPain Veteran Author Dallas Posts:362 Points:459,700 Joined:Mar 2011	Message Posted: Jan 18, 2013 11:05:53 PM Ignore DrGasPain Report Abuse All this good oil patch news, must be due to policies and encouragement from Obama, right? OH I think I meant IN SPITE OF THE EFFORTS OF OBAMA! Think of where we would be if we had an administration that encouraged oil exploration and prduction.
Wierbe Champion Author Cincinnati Posts:3,762 Points:1,121,065 Joined:Apr 2006	Message Posted: Jan 18, 2013 10:48:52 PM Ignore Wierbe Report Abuse So, will OPEC invite us to join their private club?
lesndave Champion Author Texas Posts:3,047 Points:703,105 Joined:May 2011	Message Posted: Jan 18, 2013 9:38:24 PM Ignore lesndave Report Abuse Here's hoping
Blue48 Champion Author Illinois Posts:7,315 Points:1,639,895 Joined:Feb 2007	Message Posted: Jan 18, 2013 8:55:52 PM Ignore Blue48 Report Abuse HOPE SO!
bojiway1 Champion Author Minnesota Posts:2,059 Points:480,685 Joined:Dec 2011	Message Posted: Jan 18, 2013 8:55:51 PM Ignore bojiway1 Report Abuse I hope so
OGW Champion Author London Posts:5,329 Points:1,532,975 Joined:Sep 2005	Message Posted: Jan 18, 2013 8:55:26 PM Ignore OGW Report Abuse OPEC will cutback on some production to keep world prices high.
tco9436 Champion Author Connecticut Posts:1,782 Points:724,225 Joined:Mar 2010	Message Posted: Jan 18, 2013 8:52:43 PM Ignore tco9436 Report Abuse show us the savings!!!!!!!!
ericbcire Champion Author Nevada Posts:4,530 Points:1,269,285 Joined:Aug 2009	Message Posted: Jan 18, 2013 8:39:29 PM Ignore ericbcire Report Abuse Demand keeps dropping.
Jeff1944 Champion Author South Dakota Posts:4,239 Points:1,076,345 Joined:Jan 2010	Message Posted: Jan 18, 2013 8:39:24 PM Ignore Jeff1944 Report Abuse Great news for the USA. The Saudi's are our enemy, not our ally.
Tigrelily All-Star Author Illinois Posts:510 Points:199,170 Joined:Nov 2011	Message Posted: Jan 18, 2013 8:34:58 PM Ignore Tigrelily Report Abuse Time will tell.
g747 Champion Author Mobile Posts:4,551 Points:935,620 Joined:Jul 2009	Message Posted: Jan 18, 2013 8:32:43 PM Ignore g747 Report Abuse Sounds good,but why are our prices so high ?
mahkokhan All-Star Author British Columbia Posts:652 Points:108,895 Joined:Oct 2012	Message Posted: Jan 18, 2013 8:32:16 PM Ignore mahkokhan Report Abuse this is all very well, yet i have to question the sanity of the people making these decisions.
mrbee Champion Author Little Rock Posts:3,764 Points:2,468,380 Joined:Oct 2005	Message Posted: Jan 18, 2013 8:31:50 PM Ignore mrbee Report Abuse The US grows and Opec slides. Sounds good to me.
1Casey Champion Author Albany Posts:6,538 Points:1,793,685 Joined:Jun 2004	Message Posted: Jan 18, 2013 8:29:22 PM Ignore 1Casey Report Abuse $peculation,
#12#_vabchusa All-Star Author Virginia Posts:772 Points:93,745 Joined:Jun 2004	Message Posted: Jan 18, 2013 8:28:59 PM Ignore #12#_vabchusa Report Abuse And we get jacked up again
AC-302 Champion Author Los Angeles Posts:26,597 Points:2,904,045 Joined:Aug 2004	Message Posted: Jan 18, 2013 8:28:58 PM Ignore AC-302 Report Abuse Obama will be helping us to stymie our oil supply soon enough. Wait and see.
Lizzylou Champion Author Stockton Posts:8,818 Points:2,357,285 Joined:Oct 2005	Message Posted: Jan 18, 2013 8:28:25 PM Ignore Lizzylou Report Abuse AGREE speculators will keep the prices high!
DeeLA Champion Author Los Angeles Posts:4,828 Points:1,367,280 Joined:Nov 2008	Message Posted: Jan 18, 2013 8:28:07 PM Ignore DeeLA Report Abuse Okay.
pastorpaulcg Champion Author Virginia Posts:3,615 Points:775,785 Joined:Dec 2010	Message Posted: Jan 18, 2013 8:23:11 PM Ignore pastorpaulcg Report Abuse Not if Obama has anything to do with it
TDIdave Champion Author California Posts:5,068 Points:1,226,690 Joined:May 2006	Message Posted: Jan 18, 2013 8:20:14 PM Ignore TDIdave Report Abuse And the GOP still rabidly tries to brand Obama as anti-oil. Idiots.
Elaine4411 Champion Author Pennsylvania Posts:1,658 Points:465,290 Joined:Dec 2011	Message Posted: Jan 18, 2013 8:17:01 PM Ignore Elaine4411 Report Abuse It sure would be nice of they could pass some savings on to us, the consumers.
BBHybrid Champion Author Pittsburgh Posts:6,474 Points:1,296,000 Joined:Aug 2008	Message Posted: Jan 18, 2013 8:16:15 PM Ignore BBHybrid Report Abuse we have plenty but we export and buy from OPEC. WTF
DustyHorse Champion Author Virginia Posts:6,093 Points:1,393,570 Joined:Oct 2008	Message Posted: Jan 18, 2013 8:15:57 PM Ignore DustyHorse Report Abuse The speculators will somehow spin this to justify keeping prices inflated.
firefly09 Champion Author San Diego Posts:2,497 Points:716,700 Joined:Mar 2009	Message Posted: Jan 18, 2013 8:15:16 PM Ignore firefly09 Report Abuse So why don't we use our oil and lower gas prices?
listerone Champion Author Boston Posts:3,385 Points:880,515 Joined:Aug 2008	Message Posted: Jan 18, 2013 8:10:00 PM Ignore listerone Report Abuse Let's smash OPEC!
Bleeder Champion Author Virginia Posts:8,038 Points:1,700,375 Joined:Jan 2008	Message Posted: Jan 18, 2013 8:04:14 PM Ignore Bleeder Report Abuse Good for us.
midnightsdc Champion Author Ontario Posts:2,309 Points:1,485,265 Joined:Jan 2007	Message Posted: Jan 18, 2013 8:02:09 PM Ignore midnightsdc Report Abuse Good idea number
Number43 Champion Author Lexington Posts:8,708 Points:1,640,120 Joined:Oct 2008	Message Posted: Jan 18, 2013 8:00:18 PM Ignore Number43 Report Abuse If obummer doesn't sign an executive order to stop it.
Number43 Champion Author Lexington Posts:8,708 Points:1,640,120 Joined:Oct 2008	Message Posted: Jan 18, 2013 7:59:10 PM Ignore Number43 Report Abuse We eed to find a way to stop speculation. Maybe tax the hellout of them.
Number43 Champion Author Lexington Posts:8,708 Points:1,640,120 Joined:Oct 2008	Message Posted: Jan 18, 2013 7:58:06 PM Ignore Number43 Report Abuse Still the price keeps going up.
iamforiu Champion Author Indiana Posts:3,585 Points:713,690 Joined:May 2011	Message Posted: Jan 18, 2013 7:54:08 PM Ignore iamforiu Report Abuse ok
jad1960 Champion Author Gary Posts:1,550 Points:404,400 Joined:Feb 2012	Message Posted: Jan 18, 2013 7:53:44 PM Ignore jad1960 Report Abuse The rate they are going record gas prices also.
amearly Champion Author Michigan Posts:12,129 Points:2,469,560 Joined:Jan 2006	Message Posted: Jan 18, 2013 7:52:47 PM Ignore amearly Report Abuse And yet we will still conitune to import more ??
brprven All-Star Author Dallas Posts:659 Points:287,060 Joined:Jun 2012	Message Posted: Jan 18, 2013 7:52:13 PM Ignore brprven Report Abuse Great
sit Champion Author Cleveland Posts:5,210 Points:1,934,670 Joined:Feb 2006	Message Posted: Jan 18, 2013 7:49:26 PM Ignore sit Report Abuse a CRYSTAL BALL.
MotoDad Champion Author Phoenix Posts:1,106 Points:812,765 Joined:Sep 2006	Message Posted: Jan 18, 2013 7:49:08 PM Ignore MotoDad Report Abuse I need to buy stock in oil companies.
zaq001 Champion Author Atlanta Posts:3,990 Points:1,475,025 Joined:Oct 2008	Message Posted: Jan 18, 2013 7:47:57 PM Ignore zaq001 Report Abuse Oh magic eight ball please tell us the truth
AKmailman Champion Author Alaska Posts:5,643 Points:1,559,515 Joined:Jul 2004	Message Posted: Jan 18, 2013 7:47:52 PM Ignore AKmailman Report Abuse opec will find buyer in china or sell their golden toilets
mplato Champion Author Columbia Posts:8,259 Points:1,817,220 Joined:Jun 2004	Message Posted: Jan 18, 2013 7:46:14 PM Ignore mplato Report Abuse good for us bad for opec...
jackster111 Champion Author North Carolina Posts:3,335 Points:427,285 Joined:Feb 2012	Message Posted: Jan 18, 2013 7:45:03 PM Ignore jackster111 Report Abuse time will tell
TopGunn Champion Author Baltimore Posts:9,196 Points:2,618,230 Joined:Aug 2004	Message Posted: Jan 18, 2013 7:44:53 PM Ignore TopGunn Report Abuse Okay with me.
DrZNY Champion Author Albany Posts:2,569 Points:823,735 Joined:Jan 2009	Message Posted: Jan 18, 2013 7:41:21 PM Ignore DrZNY Report Abuse Good
IUVidiot Champion Author Indiana Posts:3,600 Points:711,385 Joined:Jun 2011	Message Posted: Jan 18, 2013 7:39:34 PM Ignore IUVidiot Report Abuse ok
gass12 Champion Author Omaha Posts:8,399 Points:2,305,665 Joined:Oct 2005	Message Posted: Jan 18, 2013 7:28:48 PM Ignore gass12 Report Abuse We need help at the pumps.
heysailor Champion Author Pittsburgh Posts:9,592 Points:2,335,370 Joined:Mar 2006	Message Posted: Jan 18, 2013 7:27:22 PM Ignore heysailor Report Abuse Prices will still go up
1COR1533 Champion Author San Jose Posts:1,701 Points:317,235 Joined:Jun 2012	Message Posted: Jan 18, 2013 7:26:46 PM Ignore 1COR1533 Report Abuse the green effect again
RAC110 Champion Author Massachusetts Posts:5,954 Points:1,852,620 Joined:Mar 2003	Message Posted: Jan 18, 2013 7:25:08 PM Ignore RAC110 Report Abuse does not seem to lower gas prices much
eye-spy Champion Author Quebec Posts:4,598 Points:2,419,795 Joined:Feb 2005	Message Posted: Jan 18, 2013 7:24:52 PM Ignore eye-spy Report Abuse No matter what, the price at the pump is the bottom line!!