Concern over oil production capacity

Furious debate about how much oil the world has left is matched in intensity by the argument about how much it matters.

For producers, consumers and big oil companies, the holy grail of precise measurement for now is less vital than the speed at which barrels are pumped out of the ground.

"Production capacity over the next few years is more important than reserves," said Sadad Husseini, a former top official at Saudi Arabia's state oil company Saudi Aramco.

Controversy over alleged miscalculation of reserves resurfaced this year after a media report said Opec producer Kuwait had only about half as much oil as officially stated and Kuwait stopped short of a robust denial.

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