The peak oil story during 2006

The Year in Review

1. Production in 2006

One of the first year-end estimates of petroleum production last year (Oil & Gas Journal, December 18, 2006) indicates that worldwide crude and condensate production rose a mere 0.18%, from 72.26 million b/d to 72.39 million b/d.

Petroleum production is reported monthly or annually by various sources: the International Energy Agency, the US Energy Information Administration, the O&GJ, British Petroleum, OPEC, and others. It is reported using various categorizations that can include combinations of the following – crude oil, condensate, natural gas liquids, refinery gains,

Key factors behind 2006