The November edition of Oilwatch Monthly can be downloaded at this weblink (PDF, 1.5 MB, 21 pp). At the time of writing the latest IEA oil market report had not yet been published which has therefore not been incorporated in the PDF, but it is included in the figures and charts below.

Latest Developments (these include the IEA report which has not been published):

1) Crude Oil - Latest available figures from the Energy Information Administration (EIA) show that crude oil production including lease condensates decreased by 706,000 b/d from July to August. Total production in August was estimated at 72.51 million b/d, which is 1.79 million b/d lower than the all time high crude oil production of 74.30 million b/d reached in May 2005.

2) Total liquids - In October world production of total liquids increased by 1.4 million barrels per day from September according to the latest figures of the International Energy Agency (IEA). Resulting in total world liquids production of 86.5 million b/d, which is the all time high maximum liquids production.