Global spare oil production capacity is running "ridiculously thin" at less than 2% of demand,...

|By:, SA News Editor

Global spare oil production capacity is running "ridiculously thin" at less than 2% of demand, potentially offsetting the impact on overheating oil prices of any further increases in supplies, says Barclays head of commodities research Paul Horsnell. Any further announcements of increased Saudi supply are unlikely to have much of an impact on oil prices from here on, he adds.