"Combined with a plan to increase production from OPEC from 32.5-mil b/d to 38-mil b/d by the year 2009 and an additional 1.5-mil b/d of natural gas liquids coming also from OPEC over the same period...cumulative world oil production capacity, including non-OPEC countries, will rise by around 12-mil b/d over that period,"

(Shihab-Eldin said. This will be, in his opinion, above the expected cumulative rise in demand over that period which is estimated to be around 7-8-mil b/d).

See more industry/OPEC viewpoints at http://www.platts.com/Oil/Resources/Quote%20of%20the%20Day/