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World spare oil capacity grows, but stocks drop-EIA Iran report
December 20, 2012 / 8:26 PM / 5 years ago

World spare oil capacity grows, but stocks drop-EIA Iran report

WASHINGTON, Dec 20 (Reuters) - The world’s spare oil production capacity outside of Iran rose slightly in last two months, but a seasonal jump in consumption led to a draw from global stocks, the U.S. government said in a bimonthly report.

In November and December, spare oil production capacity averaged 2.1 million barrels per day, the U.S. Energy Information Administration said, up from 2.0 million bpd from the previous two months, said the report, which is required by last year’s Iran sanctions law.

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