After more than a year of assessing how effective OPEC and friends have been at keeping a lid on supply, it's fair to ask how much more they can produce. I prefer a slightly more restrictive definition that takes account of both the technical and the political ability to boost output. So the amount might just be enough to offset a repeat of the 2012 sanctions on Iran -- if the holders can be persuaded to use it. That doesn't look likely.So where is the usable spare capacity? The consensus is that it is predominantly in the Middle East -- in fact, only the IEA sees any significant spare capacity outside that region.

Source: Economic Times May 06, 2018 08:26 UTC