ERCE NEWS ERCE in the News: Upstream – Energy Explored Read more
ERCE NEWS Tethys Oil Release Results of Independent Reserves Evaluation Read more
ERCE NEWS ERCE to Teach PESGB Night School Course Read more
ERCE NEWS Hurricane Energy Release Operational and Corporate Update on the Lancaster Field, UK North Sea Read more
ERCE NEWS ERCE at the RIU Resurgence Conference in Perth Read more

Oil Production Outages

This plot depicts unplanned oil production outages. The level of unplanned crude oil production outages, how quickly it occurs and the uncertainty of restoring the output have considerable influence on oil prices. OPEC spare capacity is the volume of production that can be brought on within 30 days and sustained for at least 90 days. OPEC spare capacity provides an indicator of the world oil market’s ability to respond to supply shocks.