HC Deb 09 May 1988 vol 133 c23W
20. Mr. Stokes

To ask the Secretary of State for Energy when he expects the current world surplus production of oil to end.

Mr. Peter Morrison

World oil production capacity currently exceeds demand by around 10 millions barrels per day. Most of the additional oil capacity is in OPEC. Known world reserves of oil and gas are still rising and the future is therefore unpredictable.