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<blockquote data-quote="Babagounj" data-source="post: 958278" data-attributes="member: 12952"><a href="http://money.cnn.com/2012/04/03/markets/oil-production/index.htm?iid=Lead" target="_blank">Global&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;&nbsp; Oil Production Trouble - Its not just Iran</a>NEW YORK (CNNMoney) -- All the attention may be on a loss of oil from&nbsp; Iran these days, but production outages in a variety of spots worldwide&nbsp; is causing about one million barrels of oil a day to sit on the&nbsp; sidelines, helping push oil and gas prices to near record highs.&quot;There are always disruptions, but when the market is this tight, they&nbsp; have an impact,&quot; said Daniel Yergin, IHS CERA Chairman and author of&nbsp; &quot;The Quest: Energy, Security, and the Remaking of the Modern World.&quot; &quot;It&nbsp; would be better for the economy if these barrels were there.&quot;&nbsp;&nbsp; South Sudan: Roughly 350,000 barrels of oil are offline due to a <a href="http://www.cnn.com/2012/03/28/world/africa/sudan-violence/index.html?iref=allsearch&amp;iid=EL" target="_blank">flare-up in violence</a> in the African country.Libya: Oil production in the war-torn country has rebounded faster than expected. During the hostilities, all of the nation&#039;s 1.6 million barrels of daily production was halted. Libyan production has since resumed to 1.3 million barrels a day, although 300,000 barrels a day remain shut-in.Syria: About 230,000 barrels are offline in Syria thanks to the fighting in the country.Yemen: Nearly 140,000 barrels of oil are unavailable.The North Sea: Over 100,000 barrels a day are offline due to maintenance, pipeline problems and weather in the notoriously harsh region.&nbsp; &nbsp;&nbsp; Canada: Up to 50,000 barrels a day have been lost in Canada as a&nbsp; result of various equipment problems with machines that turn the oil&nbsp; sands into usable forms of crude oil.&nbsp;&nbsp; Paul Horsnell, head of commodities research at Barclays Capital, said at&nbsp; a Senate hearing on gas prices last week. &quot;Over 1 million barrels a day&nbsp; in non-OPEC production is out unexpectedly. That is a significant&nbsp; feature of the current market.&quot;</blockquote>

[QUOTE="Babagounj, post: 958278, member: 12952"] [URL="http://money.cnn.com/2012/04/03/markets/oil-production/index.htm?iid=Lead"][B][FONT=Arial][COLOR=#0A0A36]Global Oil Production Trouble - Its not just Iran[/COLOR][/FONT][/B][/URL] NEW YORK (CNNMoney) -- All the attention may be on a loss of oil from Iran these days, but production outages in a variety of spots worldwide is causing about one million barrels of oil a day to sit on the sidelines, helping push oil and gas prices to near record highs. "There are always disruptions, but when the market is this tight, they have an impact," said Daniel Yergin, IHS CERA Chairman and author of "The Quest: Energy, Security, and the Remaking of the Modern World." "It would be better for the economy if these barrels were there." [B]South Sudan:[/B] Roughly 350,000 barrels of oil are offline due to a [URL="http://www.cnn.com/2012/03/28/world/africa/sudan-violence/index.html?iref=allsearch&iid=EL"]flare-up in violence[/URL] in the African country. [B]Libya: [/B]Oil production in the war-torn country has rebounded faster than expected. During the hostilities, all of the nation's 1.6 million barrels of daily production was halted. Libyan production has since resumed to 1.3 million barrels a day, although 300,000 barrels a day remain shut-in. [B]Syria:[/B] About 230,000 barrels are offline in Syria thanks to the fighting in the country. [B]Yemen:[/B] Nearly 140,000 barrels of oil are unavailable. [B]The North Sea:[/B] Over 100,000 barrels a day are offline due to maintenance, pipeline problems and weather in the notoriously harsh region. [B]Canada:[/B] Up to 50,000 barrels a day have been lost in Canada as a result of various equipment problems with machines that turn the oil sands into usable forms of crude oil. Paul Horsnell, head of commodities research at Barclays Capital, said at a Senate hearing on gas prices last week. "Over 1 million barrels a day in non-OPEC production is out unexpectedly. That is a significant feature of the current market." [/QUOTE]

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