Professional Documents
Culture Documents
As G Kuala Lumpur
As G Kuala Lumpur
As G Kuala Lumpur
Mohammed Barkindo
Acting for the Secretary General
Outline
2
OPEC Reference Basket price (nominal and real)
OPEC
400
300
150
100
Jan 2001 = 100
50
Jan- Jul- Jan- Jul- Jan- Jul- Jan- Jul- Jan- Jul- Jan- 3
01 01 02 02 03 03 04 04 05 05 06
OPEC
Other Asia
Middle East
Others
2003
2004
North 2005
America 2006
China
1.5 1.5
1.0 1.0
0.5 0.5
0.0 0.0
-0.5 -0.5
-1.0 -1.0
2003 2004 2005 2006
China OECD Pacific OECD W.Europe
OECD N.America Total DCs Fsu- ex Russia
Russia Total non-OPEC supply
5
OPEC
21
18
15
US$/bbl
12
-3
Apr Aug Dec Apr Aug Dec Apr
04 04 04 05 05 05 06
June 3, 2006
NYMEX WTI open interest & price
75 1200
OPEN Interest
Price 1050
65
('000 contracts)
900
(US$/bbl)
55
750
45
600
35
450
25 300
Jan- May- Sep- Jan- May- Sep- Jan- Jun- Oct- Feb-
03 03 03 04 04 04 05 05 05 06 7
OPEC
OPEC’s objectives
8
OPEC
29
mb/d
28
27
26
25
2003 2004 2005
9
OPEC
40
38
36
34
32
mb/d
30
28
26
24
22
20
2006 2007 2008 2009 2010
10
OPEC
60%
50%
40%
30%
OPEC's % share
100%
90%
80%
70%
60%
50%
OPEC's % share
40%
1960 89.1
30% 1970 85.8
1980 75.6
20%
1990 58.8
10% 2000 52.9
Current 50.6
0%
1960 1964 1968 1972 1976 1980 1984 1988 1992 1996 2000 2004*
OPEC Annual Statistical Bulletin, 2004 12
OPEC
% world
OPEC 29,577.7 41.9
OPEC/non-OPEC relationship
Encouraged by OPEC
14
OPEC
Non-OPEC
OPEC
Non-OPEC
OPEC
3500
2000
1500
1000
500
0
1984 1987 1991 1994 2000
18
OPEC
19
OPEC
60
Million barrels per day
50 10.5 mb/d
OPEC Production
40
30
20
Reference Scenario
10
High Growth
Low Growth
0
2005 2007 2009 2011 2013 2015 2017 2019 2021 2023 2025
20
OPEC
Concluding statement
22
OPEC
www.opec.org
23