Wednesday, July 11, 2012
The graph is above. I'm sure the decline is not in any way statistically significant, but still it reinforces the impression that growth in the liquid fuel supply stopped in January of this year. It's been essentially flat since then. With prices not rising, that suggests a weak global economy.
The IEA will release the OMR tomorrow, so we may get another data point then.
Posted by Stuart Staniford at 6:41 AM