Interesting article, particularly as OPEC has indicated that it sees no change in production levels.

WASHINGTON, Jan 8 (Reuters) - The world will be even more dependent on OPEC this year for its oil supply as production sags from key non-cartel members Mexico and Norway, the U.S. Energy Information Administration said on Tuesday.

"World oil demand will continue to grow faster than oil supply outside of the Organization of the Petroleum Exporting Countries in 2008, leaving OPEC and inventories to offset the upward pressure on prices," the EIA said in its monthly outlook. OPEC supplies about a third of global oil demand.

The EIA forecast tight oil supplies in 2008, with U.S. crude oil prices averaging $87.21 a barrel over the year, after prices briefly eclipsed the key $100 a barrel mark last week....

Link to full article here.

http://uk.reuters.com/article/oilRpt/idUKN0850109020080108