No new Monthly
Consumption Records 'til Oil below $104/barrel
May 25 2012
delayed FreeVenue public release of Feb 25th MemberVenue
guidance ~ The pace
of flow rates indicates a new global
Annual Production record
Mbd was set in 2011.
A new global
Quarterly Production record of 89.1 Mbd
was set in 2011Q4.
December 2011 gains distinction for the all time
global Monthly Production record: 89.8 Mbd.
Production is on track to break
the 90 barrier in Feb/2013 and 95 in 2015.
new Quarterly record for Demand
of 88.67 Mbd was set in 2011Q4.
2010 remains the high mark for Monthly Demand:
89.5 Mbd ... an incredible leap from the Great Recession
low for Consumption of 82.9-mbd in May 2009.
Because the USA contract crude price currently surpasses
PEAK DEMAND Barrier ($104/barrel), it is improbable
monthly consumption levels will see new highs 'til the oil price
retreats below this critical petroleum/GDP threshold...
Trendlines Research's global All Liquids
Underlying Decline Rates Observed:
2011 - 3.2% (2.77mbd); 1970-2009 Avg - 2.7%
Note: Because IEA data is overstated by an avg
1.1-mbd due to failure to deduct energy inputs for
processing non-conventionals, IEA's A/Q/M stats
disqualified for Record purposes.