OilFinder

International Energy Association: Forced to Eat Their Optimistic Data on Future Oil Supply?

That is only true for fields *past* their peak, and it is 5.1%, not 6%:
www.worldenergyoutlook...
^
Page 2:
"Based on data for 580 of the world's largest fields that have passed their production peak, the observed decline rate - averaged across all fields and weighted by their production over their whole lives - is 5.1%"

Not all fields are past their production peak.


On Nov 11 04:25 PM William Davison wrote:

> If current field depletion is 6% a year as the IEA has forecast and
> current conventional crude production is about 72mbd, then your 18.3mbd
> new supply is wiped out in 5 years and your 25mbd in 7 years. <br/>
>
> On Nov 11 01:37 PM OilFinder wrote: