11. Granted, they say, oil output is up in the North Sea, the Gulf of Mexico and elsewhere. 12. Iraq vowed to double and eventually triple its oil output. 13. Most significantly, the once-defiant Saudis agreed to reduce their own oil output. 14. Norway has said it has no plans to curb its oil output. 15. No technical difficulties preclude a daily oil output that could eventually be equal to a tenth of what is produced each day in the United States. 16. Oil output at Petrobras, which has a monopoly on production in Brazil, has steadily increased in recent years. 17. Oil prices slumped in recent weeks as mild weather and refinery upkeep damped demand at a time of rising oil output. 18. Shell now says it will benefit from cost cuts and rising oil output. 19. Some previous efforts by OPEC to restrain oil output have failed because its members have cheated on production quotas. 20. The agreement represents the first phase of the development and precedes agreements to construct units to upgrade the heavy oil output to produce a lighter, more marketable crude. |