The program forced production shortfalls at more than 900 enterprises in January, the Tass press agency said this month.

Several of Gazprom's key gas fields are aging; the company had production shortfalls during a cold spell in January.

As a response to that shock, consuming nations dipped into their oil reserves to make up for the production shortfall from the Gulf of Mexico.

"At about $30 a barrel, the oil market is assuming a production shortfall of around 3.5 million barrels a day," he added.

Stevens also admitted that a strike might cause a production shortfall of the target of 29 F-35s that year.

Recent production shortfalls, however, have forced Indonesia to buy liquefied natural gas in the secondary market to meet its obligations.

Crop failures and production shortfalls are dragging down the standard of living, with no sign of relenting.

These numbers currently understate the production shortfalls for the state because the number of air-conditioners were kept constant at current levels.

Instead, consuming nations dipped into their own reserves to make up for the production shortfall from the Gulf of Mexico.

Why not set up a European agency to manage any surpluses generated, dispatching these to countries experiencing production shortfalls or lean years?