Untapped reserves, world demand spur production expansion

Most OPEC members plan to increase production capacities. Some of these countries are basing their expansion on projections of a growing world economy and a shortening of non-OPEC supplies. However, deteriorating petroleum prices and concerns that fossil fuels could affect the environment may have a significant effect on these expansion plans. A discussion of these production expansion plans for Iran, Iraq, Saudi Arabia, Qatar, United Arab Emirates and Kuwait is included.
To meet projected world oil demand, almost all members of the Organization of Petroleum Exporting Countries (OPEC) have embarked on ambitious capacity expansion programs aimed at increasing oil production capabilities. [...]