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47 comments on The Scales are Balanced
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47 comments on The Scales are Balanced
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you're right, and if I could do it with six months of 2008 data now I would! :-)
since the data was there, it was easy to add it. it helps to show how the trend of 2007 has changed. Saudi/Iran/Kuwait/UAE all pumping a lot more than their average for last year. Can they maintain it? We'll watch the scales through the year.. I certainly expect to see them tip back towards evenly balanced as more data comes in..
Phil.
Great analysis, Phil!
As I have the forecast data already, here are a couple of more charts for you.
C&C for Jan 2008 was 74.47 mbd. I think Feb 2008 might be a little higher but could be the peak month for 2008.
click to enlarge
2009 forecast is a worry as production decreases from declining countries far exceeds production increases from increasing countries.
click to enlarge