Oilwatch Monthly March 2009

Latest Developments

Conventional crude production – Latest available figures from the Energy Information Administration (EIA) show that crude oil production including lease condensates decreased by 639,000 b/d from November to December 2008, resulting in a total production of crude oil including lease condensates of 72.79 million barrels per day. The all time high production record of crude oil stands at 74.83 million b/d reached in July 2008.

Total liquids production – In February 2009 world production of total liquids decreased by 1 million barrels per day from January according to the latest figures of the International Energy Agency (IEA), resulting in total world liquids production of 83.93 million b/d. Average global production in 2008 was 86.59 million b/d according to the IEA.
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