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 World Production Records

World Production Records ~ annual, quarterly & monthly Oil Production Records

Quarterly Oil Production for the Top 7 Nations  (link)

see also:  monthly update of the tier-1 Peak Oil Depletion Scenarios

see also:  monthly update of my  Peak Scenario-2500  Depletion Model

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World Production Records:  New Monthly Consumption Records Improbable 'til Crude Prices Subside

Feb 7th delayed FreeVenue public release of Nov 7th MemberVenue guidance ~ The pace of flow rates indicates a new global Annual Production record of 87.8 Mbd is being set in 2011.  A new global Quarterly Production record of 89.0 Mbd was set in 2011Q3.  September 2011 gains distinction for the all time global Monthly Production record:  89.1 Mbd.  Production is on track to break 90 in January 2013 and 95 in 2019.

A new Quarterly record for Demand of 89.3 Mbd was set in 2011Q3.  September 2011 also set a new high mark for Monthly Demand:  89.9 Mbd ... an incredible leap from the Recession low for Consumption of 82.5-mbd in May 2009.  Because the USA contract crude price currently surpasses the Barrel Meter's Peak Demand Barrier ($102/barrel), it is improbable consumption levels will increase 'til oil prices subside...

Trendlines Research's global All Liquids Underlying Decline Rates Observed:  2011 - 3.4% (2.94mbd);  1970-2009 Avg - 2.7%

Note:  Because IEA data is overstated by an avg 0.5-mbd due to failure to deduct energy inputs for processing non-conventionals, IEA's A/Q/M stats disqualified for Record purposes.

Saudi Arabia blasts past Russia

Feb 8th delayed FreeVenue public release of Nov 7th MemberVenue guidance ~ In a grudge match that spans three decades, Saudi Arabia has overcome OPEC quota restrictions to surpass Russia as World's top All Liquids producer.  In the process, the Kingdom broke its annual record (10.7 Mbd) and also set a new global quarterly record (11.3 Mbd) and global monthly record (11.4 Mbd) as it boosted flows in its role as swing producer to replace lost Libya extraction.  That said, it is improbable Russia's 1987 annual/quarterly/monthly records (11.5 Mbd) will ever be surpassed.

In 3rd place, the USA flow of 8.8 Mbd is down a tad from its recent Quarterly high.  Following are:  China (4.1), Iran (3.5), Canada (3.4) & Mexico (2.9 Mbd).

Trendlines Research's All Liquids Underlying Decline Rates Observed in 2011:  Worldwide 3.4% (2.9-mbd), Saudi Arabia 3.2% (0.35-mbd) & USA 2.5% (0.22-mbd)