RE:OPEC Wants To Paint The Picture BleakAgreed. An article I read recently gives a decline rate globally of 5 million barrels. Capex cuts will not allow that shortfall to be balanced. A 3% increase in annual demand and virtually no spare capacity in the world and yet the media states the world is ending oil wise.............. Lots of strange trading with IAE and a near 10% drop in the UK price since 1408 hours.