Of the 65 largest oil-producing countries in the world, 54 have passed their peak production, just like in East Texas, and are now in decline. Indonesia, a member of the oil-exporting club OPEC, can’t produce its OPEC quota. But the most astonishing thing is that the country now can’t even produce enough for its own consumption, and imports oil. Six years from now, five more countries will peak in their oil production. Cantrell in Mexico is the second largest oil-producing field in the world. Next year, it is expected to start declining and the production of Mexico as a whole will fall. China for the last five years has been fighting hard to keep its production steady and in all likelihood, won’t keep it up for long.
Related Leave a Comment
No comments yet.