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New monthly/quarterly record set in Q1 ~ Saudi Arabia poised for #1 producer (again)

click to enlarge ... more peak oil charts @ my SA Instablog & website
click to enlarge ... more peak oil charts @ my SA Instablog & website

New Global Quarterly & Monthly Records set in Q1

Aug 25th delayed FreeVenue public release of May 25th guidance @ our MemberVenue ~ The pace of flow rates indicates a new global Annual Supply record of 87.8-mbd is being set in 2011 A new global Quarterly Supply record of 87.9-mbd was set in 2011Q1January 2011 gains distinction for the all time global Monthly Supply record:  88.3-mbd. 

The Quarterly record for Demand of 87.7-mbd was set in 2010Q4 (with shortfall difference of 0.1-mbd drawn from inventories).  February 2011 has set a new high mark for Monthly Demand:  88.6-mbd ... an incredible leap from the Recession low of 82.5-mbd in May 2009.  Demand is on a pace to break 90 in January 2013 before peaking @ 101-mbd in 2033.

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 poised to overtake Russia for 1st Place


Aug 25th delayed FreeVenue public release of May 25th guidance @ our MemberVenue ~
In a grudge match that spans three decades, Russia is about to lose its tentative lead as World's top All Liquids producer.  It is improbable Russia's 1987 annual/quarterly/monthly records of 11.5-mbd will ever be surpassed.

Albeit Russia set a 10.5-mbd recent Quarterly Record in Q4, Saudi Arabia has ratcheted up to 10.4-mbd in a quest to pay for reforms and quell the Arab Spring spill-over ... despite OPEC quota restrictions.  In 3rd place, the USA flow is down a tad from its recent-Quarterly Record with a pace of @ 8.7-mbd.

Following are China (4.2), Iran (3.6), Canada (3.5) & Mexico (3.0-mbd)

Trendlines Research's All Liquids Underlying Decline Rates Observed in 2011:  Worldwide 3.4% (2.9-mbd), Saudi Arabia 3.2% (0.33-mbd) & USA 2.5% (0.22-mbd)


original article:  trendlines.ca/free/peakoil/WorldProducti...