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 THE
MIDDLE EAST
After a drop in oil production in 2002 due to enforcement
of OPEC quotas output from the Middle East has grown substantially and
this will continue through to 2015 as supplies from non-OPEC countries
reduce.
 Onshore
regions saw most quota restrictions after 1986 and these will show the
strongest growth. Offshore output will peak in 2011/12.
Gas production is set to increase substantially, the
majority coming from Iran, Saudi Arabia and Qatar.
The Middle East is expected to see some growth in oil
consumption through to 2010, especially in Iraq, before flattening off
as prices rise. Gas consumption is also expected to increase as new
supplies are developed.
After rebounding in 2002 continued growth in exports is
forecast, from the major exporters and especially from Iraq. Net gas
exports from the region, which began around 2000, will also persistently
and rapidly increase.
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