The June 2008 edition of Oilwatch Monthly can be downloaded at this weblink (PDF, 1.42 MB, 21 pp).

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

A summary and latest graphics below the fold.[break]

Latest Developments:

1) Total liquids - In May world production of total liquids increased by 490,000 barrels per day from April according to the latest figures of the International Energy Agency (IEA). Resulting in total world liquids production of 86.60 million b/d. Average global production in 2007 was 85.41 million b/d according to the IEA. In the first five months of 2008 an average of 86.82 million b/d was produced. The US Energy Information Administration (EIA) in their International Petroleum Monthly puts average global 2007 production at 84.55 million b/d and the first three months of 2008 at 85.70 million b/d.

2) Conventional crude - Latest available figures from the Energy Information Administration (EIA) show that crude oil production including lease condensates decreased by 134,000 b/d from February to March. All time high crude oil production now stands at 74.63 million b/d in February 2008.

A selection of charts from this edition:

Figure 2 - World Crude Oil Production January 2002 - Narch 2008

Figure 3 - Non-OPEC Crude Oil Production January 2002 - Narch 2008

Figure 4 - Saudi Arabia Crude Oil & Liquids Fuel Production January 2005 - May 2008

Figure 5 - Russia Crude Oil & Liquids Fuel Production January 2005 - May 2008

Figure 6 - Mexico Crude Oil & Liquids Fuel Production January 2005 - May 2008

Figure 7 - United Kingdom Crude Oil & Liquids Fuel Production January 2005 - May 2008

Figure 8 - Nigeria Crude Oil Production January 2002 - May 2008

The June 2008 edition of Oilwatch Monthly can be downloaded at this weblink (PDF, 1.42 MB, 21 pp).

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

A summary and latest graphics below the fold.[break]

Latest Developments:

1) Total liquids - In May world production of total liquids increased by 490,000 barrels per day from April according to the latest figures of the International Energy Agency (IEA). Resulting in total world liquids production of 86.60 million b/d. Average global production in 2007 was 85.41 million b/d according to the IEA. In the first five months of 2008 an average of 86.82 million b/d was produced. The US Energy Information Administration (EIA) in their International Petroleum Monthly puts average global 2007 production at 84.55 million b/d and the first three months of 2008 at 85.70 million b/d.

2) Conventional crude - Latest available figures from the Energy Information Administration (EIA) show that crude oil production including lease condensates decreased by 134,000 b/d from February to March. All time high crude oil production now stands at 74.63 million b/d in February 2008.

A selection of charts from this edition:

Figure 2 - World Crude Oil Production January 2002 - Narch 2008

Figure 3 - Non-OPEC Crude Oil Production January 2002 - Narch 2008

Figure 4 - Saudi Arabia Crude Oil & Liquids Fuel Production January 2005 - May 2008

Figure 5 - Russia Crude Oil & Liquids Fuel Production January 2005 - May 2008

Figure 6 - Mexico Crude Oil & Liquids Fuel Production January 2005 - May 2008

Figure 7 - United Kingdom Crude Oil & Liquids Fuel Production January 2005 - May 2008

Figure 8 - Nigeria Crude Oil Production January 2002 - May 2008

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.
[break]

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:

Figure 2 - World Crude Oil Production January 2002 - February 2008

Figure 3 - Non-OPEC Liquids Production January 2002 - April 2008

Figure 4 - OPEC Liquids & Crude Oil Production January 2002 - April 2008

Figure 5 - Saudi Arabia Crude Oil & Liquids Production January 2005 - April 2008

Figure 6 - Russia Liquids & Crude Oil Production January 2005 - April 2008

Figure 7 - Iraq Liquids & Crude Oil Production January 2005 - April 2008

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.
[break]

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:

Figure 2 - World Crude Oil Production January 2002 - February 2008

Figure 3 - Non-OPEC Liquids Production January 2002 - April 2008

Figure 4 - OPEC Liquids & Crude Oil Production January 2002 - April 2008

Figure 5 - Saudi Arabia Crude Oil & Liquids Production January 2005 - April 2008

Figure 6 - Russia Liquids & Crude Oil Production January 2005 - April 2008

Figure 7 - Iraq Liquids & Crude Oil Production January 2005 - April 2008

The March 2008 edition of Oilwatch Monthly can be downloaded at this weblink (PDF, 1.65 MB, 21 pp).

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

A summary and latest graphics below the fold.

[break]

Latest Developments:

1) Total liquids In March world production of total liquids decreased by 100,000 barrels per day from February according to the latest figures of the International Energy Agency (IEA). Resulting in total world liquids production of 87.34 million b/d, which is the all time maximum liquids production. Average global production in 2007 was 85.41 million b/d according to the IEA. In the first three months of 2008 an average of 87.34 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 January 2008 production 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 194,000 b/d from December 2007 to January 2008. Total production in January broke a new all time high production record at 74.47 million b/d, 168,000 b/d higher than the previous all time high crude oil production of 74.30 million b/d reached in May 2005.

A selection of charts from this edition:

Figure 2 - World Crude Oil Production January 2002 - January 2008

Figure 3 - Non-OPEC Liquids Fuel Production January 2002 - March 2008

Figure 4 - OPEC Liquids Fuel & Crude Oil Production January 2002 - March 2008

Figure 5 - Saudi Arabia Liquids Fuel & Crude Oil Production January 2002 - March 2008

Figure 6 - Iraq Liquids Fuel & Crude Oil Production January 2002 - March 2008

Figure 7 - Russia Liquids Fuel & Crude Oil Production January 2002 - March 2008

Figure 8 - Kazakhstan Liquids Fuel & Crude Oil Production January 2002 - March 2008

Figure 9 - Azerbaijan Liquids Fuel & Crude Oil Production January 2002 - March 2008

Figure 10 - Nigeria Liquids Fuel & Crude Oil Production January 2002 - March 2008

Figure 11 - China Liquids Fuel & Crude Oil Production January 2002 - March 2008

Figure 12 - Canada Liquids Fuel & Crude Oil Production January 2002 - March 2008

Figure 13 - Mexico Liquids Fuel & Crude Oil Production January 2002 - March 2008

Figure 14 - Brazil Liquids Fuel & Crude Oil Production January 2002 - March 2008

The March 2008 edition of Oilwatch Monthly can be downloaded at this weblink (PDF, 1.6 MB, 21 pp).

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

A summary, latest graphics and an explanatory note regarding a few errors I made last time and the data used below the fold.
[break]

Latest Developments:

1) Total liquids - In February world production of total liquids increased by 175,000 barrels per day from January according to the latest figures of the International Energy Agency (IEA). Resulting in total world liquids production of 87.5 million b/d, which is the all time maximum liquids production. Average global production in 2007 was 85.41 million b/d according to the IEA. In the first two months of 2008 an average of 87.41 million b/d was produced. The EIA in their International Petroleum Monthly puts the average global 2007 production at 84.63 million b/d, slightly higher than the average 2006 production of 84.60 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 450,000 b/d from November to December. Total production in December was estimated at 74.2 million b/d, which is 96,000 b/d lower than the all time high crude oil production of 74.3 million b/d reached in May 2005 (difference due to rounding errors).

A selection of charts from this edition:

Figure 2 - World crude oil production January 2002 - December 2007

Figure 3 - Non-OPEC crude oil production January 2002 - December 2007

Figure 4 - OPEC crude oil production January 2002 - December 2007

Figure 5 - Non-OPEC Liquids fuel production January 2002 - February 2008

Figure 6 - OPEC Liquids fuel production January 2002 - February 2008

Figure 7 - Russia crude oil & liquids fuel production January 2002 - January 2008

Figure 8 - China crude oil & liquids fuel production January 2002 - January 2008

Figure 9 - United States crude oil & liquids fuel production January 2002 - January 2008

Figure 10 - Mexico liquids fuel production January 2002 - January 2008

Figure 11 - Brazil crude oil & Liquids fuel production January 2002 - January 2008

Figure 12 - Nigeria crude oil & liquids fuel production January 2002 - January 2008

Figure 13 - Angola crude oil & liquids fuel production January 2002 - January 2008

Figure 14 - United Kingdom crude oil & liquids fuel production January 2002 - January 2008

Figure 15 - Iraq crude oil & liquids fuel production January 2002 - January 2008

Figure 16 - Saudi Arabia crude oil & liquids fuel production January 2002 - January 2008

An explanatory note about the data used in the Oilwatch.

In the discussion at last month's oilwatch valid points were raised by sofistek and others regarding some errors I made in the February edition of the oilwatch monthly. I have corrected these slight errors in this edition.

Regarding the data used in the oilwatch, this comes mainly from free public sources. In specific I use the Oil market report by the international energy agency, the international petroleum monthly, oil price data and stock data from the Energy Information Administration and the Joint Oil Data Initiative database, which is a collective effort from a variety of energy institutes and database companies. I no longer use the short term energy outlook of the Energy Information Administration since the international petroleum monthly is a much better source of data.

In addition to these public sources I also use the paid publication, oil, gas ,coal & electricity quarterly statistics of the OECD, for addition data on liquids production. I do not use the latest purchasable oil market report from the IEA since I do not (yet) have a subscription to that publication and hence have to rely on the free issue.