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196 comments on DrumBeat: July 16, 2006

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Darwinian on July 16, 2006 - 10:45am Permalink | Subthread | Comments top
Last month the IEA wrote in their Oil Market Report published June 13th, their estimate of world oil production:

World oil supply rose by 445 kb/d in May to 85.0 mb/d, fuelled by increases from OPEC, a lull in North Sea maintenance and recovering US GOM supply.

This has been a statistic reported in every Oil Market Report as far as I know But for the first time in my memory, this month's Oil Market Report contains no estimate of world oil production. Would anyone venture to speculate on why?
http://omrpublic.iea.org/

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Euan Mearns on July 16, 2006 - 4:00pm Permalink | Subthread | Parent | Comments top
The bits that catch my eye are the three blue bar charts showing 2Q 06 world oil supply down, 2Q 06 OPEC supply down and 4Q 07 world oil demand approaching 88 mb/d - intesesting times.
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StoneDog on July 17, 2006 - 12:17am Permalink | Subthread | Parent | Comments top
I'm glad someone else thought the IEA blurb about supply felt different.  I've bee reading these every month for a year and a half.  It's always the same, World oil supply rose by XX kb/d to XX mb/d.

This month's brings in biofuels and seems very vague,  like the writer didn't want to say what the numbers show.  Of course for the last 3 or 4 months they've been saying oil supply rose to 85.0 mb/d.  Funny thing about that.... every month it rose to 85 but it never seems to get there.

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196 comments on DrumBeat: July 16, 2006

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