Oil Industry Analysis can give a clear picture of the Global Oil Industry's present status so that we can come to know actually what is happening in the World Oil Industry. The Oil Industry at present is facing the challenge of increasing production capacity. This is because the World Oil Industry is now experiencing a tremendous growth of demand.
This Rising World Demand is actually the outcome of the increased oil demand in the countries like China, India and other Asian Countries. Other than these countries, Latin America, Africa and the Middle East are also contributing to the growing oil demand. So, we can clearly see that the geographical source of oil demand has changed in the recent years.
The recent Oil Industry trend is that light and medium oil products are actually in demand and not the heavy ones. This demand pattern naturally requires expansion and Up Gradation of Oil Refineries. So, in the future years, the Oil Industry is also going to grow in terms of Refining Capacity. The Rising Environmental Concerns also contributed to the present Oil Industry Trend. Most of the countries of the world have decided on quality fuels. These increased quality standards require more complex refining system.
To find that whether the production capacity of the world oil industry is increasing or not, we can focus on the performance of OPEC countries and Non-OPEC Countries. In the OPEC Countries, all the plants are producing by almost their full capacity. But these OPEC member countries are prepared to expand their production capacity to a level of 49.9 million barrels per day by 2015.
The Non-OPEC Countries are also not far behind. There are a lot of projects in the pipeline. After completion of these projects the production capacity of Non-OPEC countries is estimated to rise to 56.3 million barrels per day by 2010.
So, we can say that if everything goes as per planning then the World Oil Industry does not need to suffer from Supply Anxiety for long.