Earth Equity News

Asia's Oil Production Expected to Increase. By Patrick Barta, WSJournal, October 7, 2008, subsription. "Asia is expected to significantly increase its own oil production next year, a development that could add to downward pressure on prices. China, India and other big energy users in Asia aren't about to become major oil exporters -- far from it. They still consume much more crude than they produce and that trend won't change... But several countries, including China, are lifting oil output... Asia's production outlook stands in sharp contrast to other parts of the world, including Europe, which faces steep declines in oil output in 2009 and beyond... In Russia, production is expected to remain flat or even fall next year, while declines in Mexico continue to drag down production in Latin America."