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No More Global Oil Consumption Records 'til Price Below $103

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

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%

original article

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