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Eagle Ford oil production is forecast to drop 49,000 bpd to 1.
To bring the capacity up to 4m bpd by 2020, KOC will contribute an extra 650,000 bpd, he added.
Crude use by Saudi refineries also fell, by 44,000 bpd, from November to December, while the kingdom took an average of around 73,000 bpd from stocks to top up supplies.
Supply from producers outside OPEC is also on the rise, according to the report, with non-OPEC supply growth seen at 640,000 bpd this year, up 50,000 bpd on the previous forecast.
It said the main takers of Iranian crude in the EU were Italy, which imported 185,000 bpd over the period, Spain (161,000 bpd), and Greece (103,000 bpd).
The IEA said South Sudan's 260,000 bpd could remain absent from world markets for the near future but added that North American light tight oil production and growing production in Latin America should support a strong non-OPEC supply rebound.
6 million bpd by May, provided everything is working properly," the Iraqi official said asking that their name not be used in the run-up to the inaugeration of the SPM.
Output was above 9 million bpd as recently as February, when the Kingdom produced 9.
M2 EQUITYBITES-January 11, 2011--Norwegian Interoil production grows to 6,669 bpd in Dec 2010(C)2011 M2 COMMUNICATIONS http://www.
NORDIC BUSINESS REPORT-January 11, 2011--Norwegian Interoil production grows to 6,669 bpd in Dec 2010(C)2011 M2 COMMUNICATIONS http://www.
Exact data on spare capacity remains a closely guarded secret within individual members, but as a group OPEC has stated it holds more than six million bpd of capacity and has said this level would be maintained until 2014.