The Oil Drum: Europe | Oilwatch Monthly

Oilwatch Monthly - May 2008

Posted by Rembrandt on May 22, 2008 - 1:00am in The Oil Drum: Europe
Topic: Supply/Production
Tags: eia, iea, non-opec, oilwatch, opec, russia, supply, total liquids, world production [list all tags]

The May 2008 edition of Oilwatch Monthly can be downloaded at this weblink (PDF, 1.15 MB, 21 pp).

Figure 1 - World Liquids Fuel Production January 2002 - April 2008

A summary and latest graphics below the fold.

Latest Developments:

1) Total liquids - In April world production of total liquids decreased by 400,000 barrels per day from March according to the latest figures of the International Energy Agency (IEA). Resulting in total world liquids production of 86.76 million b/d. Average global production in 2007 was 85.41 million b/d according to the IEA. In the first four months of 2008 an average of 87.12 million b/d was produced. The EIA in their International Petroleum Monthly puts the average global 2007 production at 84.60 million b/d and for the first two months of 2008 at 85.80 million b/d.

2) Conventional crude - Latest available figures from the Energy Information Administration (EIA) show that crude oil production including lease condensates increased by 226,000 b/d from January to February. Total production in February broke a new all time high production record at 74.66 million b/d from the previous month.

A selection of charts from this edition: