Friday, July 27, 2012
The IEA has now publicly released their June figures for total liquid fuel supply and so I can update my graphs accordingly. As you can see, June shows a downtick which adds to the overall impression that supply has been at best flat throughout 2012.
This combines with the very sharp drop in oil prices in June:
The overall impression continues to be that the global economy is faltering (meaning that even though supply is not rising, demand, or perceived demand, is lower than supply).