I'm a bit slow off the mark this month but both the IEA and OPEC have released April numbers for total liquid fuel supply, while the EIA is up to January. The most recent changes are above (not zero-scaled to better show changes). The IEA is now up to 91. The pattern we've seen in 2012 of supply rather flat is still holding, however it's notable that the most recent OPEC monthly oil report revised the level of all three months Jan-Mar up by around a half a million barrels/day (so the seeming 2012 mini-plateau is now at a higher level than it was). There is still a spread of almost two million barrels/day between the three sources indicating the overall levels of uncertainty in global supply are quite high at the moment, so maybe none of this should be taken as more than suggestive until more data comes in.
Including the Brent price trend on the right axis and going back to 2002, the data looks as follows:
Hi Stuart, I have today updated sar sands graph according to your methodoligy... together with some other tar sands pictures and videos it can be found here.
ReplyDeleteAlex
Well,
ReplyDeletedesperate attempts are made to keep the oil flowing:
http://crudeoilpeak.info/incremental-crude-oil-production-update-january-2012
That looks more like optimistic reality :)
Stuart, are those prices in constant dollars? 2008 is just half a year away from being 5 years off, and add to this several rounds of QE which have affected the value of the dollar quite substantially.
ReplyDeleteCould we see a similar chart in constant (pick your year) dollars?
David - yes the prices are CPI adjusted to Jan 2012.
ReplyDelete