BP chief

Global oil production fell last year for the first time in six years while consumption continued to grow, according to BP.

The oil company


It showed that global production had slipped by 0.2 per cent in 2007 to 81.53 million barrels per day, while consumption grew by 1.1 per cent, or one million barrels, to 85.22 million barrels per day.

However, Tony Hayward, the chief executive of BP, dismissed claims that the notion of