[joewp]

I've been monitoring this report for a couple of years now. It's always released well before the 15th of the month, as far as I can remember. It's available here, but you can only get the August release, the September edition is promised for "Early September, 2007" and I'm wondering where it is being that it's the 20th of September already.

Does anybody have a clue why this report is delayed? It's supposed to show June's world oil production and I have some charts I'd like to update. One wonders why it hasn't been released yet. Could it be the numbers are so shockingly low that it would confirm a May, 2005 (or May, 2006 for all liquids) peak and the beginnings of a precipitous decline?

In the absence of this report, we can only speculate what June's world oil production was, and the absence of this report doesn't make it look like it was a good number.

[BrazilianPO]

One can only speculate that the numbers will be bad. Let me just put my tin foil hat before I say this.... OK, done! Or perhaps they are deciding with some big fishes "Should we put the real numbers or cook them up a little bit?"

[Zardoz]

Sure sounds odd. Is it yet another piece of the big jigsaw puzzle being snapped into place? Are the numbers so low that they feel they have to double-check them?

Who knows, but the delay could be caused by the additional time required to confirm them.

Keep in mind, we've had three straight days of record oil prices, with no unusual events (Gulf hurricanes, military skirmishes, etc.) taking place. Could it be that the traders have gotten wind of the numbers?

[Doly]

$this->bbcode_second_pass_quote('Zardoz', '
')Keep in mind, we've had three straight days of record oil prices, with no unusual events (Gulf hurricanes, military skirmishes, etc.) taking place. Could it be that the traders have gotten wind of the numbers?

[skeptik]

well I just looked, its there now.

Havent read it yet

[joewp]

$this->bbcode_second_pass_quote('skeptik', 'w')ell I just looked, its there now.

Havent read it yet

[Troyboy1208]

holy shit...72.8. Were using something like 85 million barrels a day...How can opec stand by and do nothing. a 13 million barrel deficit is going to devestate things. But once again this wont be front page news

[joewp]

$this->bbcode_second_pass_quote('Troyboy1208', 'h')oly shit...72.8. Were using something like 85 million barrels a day...How can opec stand by and do nothing. a 13 million barrel deficit is going to devestate things. But once again this wont be front page news

[Zardoz]

$this->bbcode_second_pass_quote('joewp', '.')..The EIA's "total liquids" number is 84.49mb/d which is still down from the July, 2006 peak of 85.52 by 1.03mb/d or 1.2%.

[Geko45]

Whoa! Looks like there was a major revision this month in how they count all liquids. Everything in the link below that is in bold-italics represents a revised number. The figures for total world oil supply and OAPEC have been revised all the way back to the beginning of the IPM. That is the first time I've seen them revise figures back that far. They normally limit themselves to the past 12 months or so. I don't know why they choose to do this or what the impact is yet, but I will try and find out. Does anybody here know anything?

EIA Table 1.4: World Oil Supply

[joewp]

According to here:
$this->bbcode_second_pass_quote('', '(')2) Petroleum production data for 1980-2005 have been revised to match data in the recently released Petroleum Production Time Series Tables of the International Energy Annual 2005. Revised data are shown in bold italic font..

[Troyboy1208]

$this->bbcode_second_pass_quote('joewp', '')$this->bbcode_second_pass_quote('Troyboy1208', 'h')oly shit...72.8. Were using something like 85 million barrels a day...How can opec stand by and do nothing. a 13 million barrel deficit is going to devestate things. But once again this wont be front page news