OPEC supply growth this year by 205,000 barrels per day, with production problems in the U.S. Gulf, Mexico, Norway and Britain accounting for most of the shortfall. Russia is also pumping less than expected. "The extent to which (the IEA) felt compelled to cut its estimates of non-OPEC production is a bullish factor," said Deborah White, senior energy analyst at SG Commodities. Even with U.S. crude averaging above $53 a barrel for the year to date, in real terms prices are still below the $80 a barrel average of 1980, after the Iranian revolution.
