Monday, January 16, 2012
Global oil production rose by about a half million barrels/day in December according to OPEC. So fears over Iran, Nigeria, Kazakhstan remain largely just fears - not that something couldn't happen, but so far global liquid fuel production is still rising. The IEA will come out with their numbers on Wednesday and I will update all my monthly graphs at that time.
According to OPEC (based on "secondary sources") Saudi production was pretty much flat over the November level: 9.763mbd in December versus 9.783 in November. Still no sign of the 10mbd Mr Al-Naimi was claiming.