The world is currently “short” by about 2 million barrels per day. If the Saudis open this new oilfield on time (June 2009) and it truly yields 1.2 million bpd then the world will still be “short” by 0.8 million bpd. And, oil demand is growing by more than 1 million bpd per year so, the world would be back to being “short” by 2 million bpd.
Where do you find the “short” figure of 2 MMBPD?