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Oil sets new global production record in Q1

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The pace of flow rates to May 12th indicates a new global Annual Supply record of 85.8-mbd is being set in 2010.

A new global Quarterly Supply record of 85.9-mbd was set in 2010Q1 July 2008 continues its distinction for the all time global Monthly Supply record:  86.7-mbd, 0.7-mbd above today's monthly pace of 86.0-mbd.  Projection of year-to-date flows reveals a new monthly record will be set in February 2011.

The Quarterly record for Demand of 86.9-mbd was set in 2007Q4 (with difference of 1.7-mbd drawn from inventories).  The High Demand Month is February 2008's 87.7-mbd.

TrendLines Research's global All Liquids Underlying Decline Rates Observed:  2010 - 2.8%;  1970-2009 Avg - 2.7%


Note:  IEA 2009 annual stats are overstated by 0.6-mbd due to IEA's failure to deduct energy inputs for processing BTL & Bitumen.  Thus, only EIA A/Q/M stats are recognized as Records.

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