EFTA Document EFTA01367354

31 May 2015 Integrated Oil US Integrated Oils Whet Is expected long-term from OPEC? Outside of Iran and volatility around Saudi, the longer-term environment will be dictated chiefly by anticipated production capacity increases by both the UAE and Iraq. The UAE has set a target of 3.5 MMb/d by 2020 or -600 Mb/d above current estimated capacity levels. Adnoc has mentioned in the press that it would invest -$25Bn to develop some of its offshore fields and seems driven to meet its target pr