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June 20, 2012

World Oil at a record 91.1 million barrels per day

IEA Monthly World Oil Report showed Global oil supply rose by 200,000 bpd to 91.1 million bpd in May. Non-OPEC liquids increased by 0.2 mb/d to 53.1 mb/d and by 1.0 mb/d versus year ago. In 2012 rising North American supply more than offsets record-low North Sea output, as well as outages in the Sudans, Syria, and Yemen, taking non-OPEC supply growth to 0.7 mb/d.

The 91.1 million barrels per day includes crude oil and oil like liquids (natural gas liquids, ethanol etc...).

The EIA is showing a new peak in world crude oil production in January 2012 at 75.67 million barrels per day.







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