The UAE’s state-owned oil company has updated its maximum crude oil production capacity, increasing the figure from 4.65 million bpd to 4.85 million bpd.
OPEC has repeatedly argued that forecasts that predict a rapid end to the era of oil are not grounded in reality and that amplifying them could sap new investment in oil and gas supply that the world needs.
Reports on what authors like to call the end of the oil era were a frequent reading some 20 years ago. At the time, the focus was peak supply and the consequent need to find alternatives to the fuel that powers the world.
Now, 20 years later, there .
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