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 2011Q1. January 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...