Of Asia’s total incremental oil imports since 2001, 4.5 mb/d (47%) have come from production growth, 3.9 mb/d (41%) from taking away imports of other countries (US, Europe, Africa and others) and 1.2 mb/d (12%) from direct consumption decline (US, Europe and others).
Articles: oil production (35)
A midweek update. There was little change in oil prices so far this week as New York futures continued to trade around $60 per barrel and London futures around $64.
If what you're selling cannot be sold on the world market as crude oil, then it's not crude oil. The implications are fairly obvious: The world has substantially lower oil production than widely believed, and growth in world oil supplies has slowed considerably in the last several years.
A weekly roundup of peak oil news, including: Oil and the Global Economy, The Middle East and North Africa, USSR/Ukraine, Greece, and The Briefs
A weekly roundup of peak oil news. -Oil and the Global Economy -The Middle East and North Africa -China -Russia/Ukraine -The Briefs
A midweek update. Oil prices have been volatile this week as traders attempt to fathom whether prices are stabilizing due to increasing demand, and eventually falling production, or will undergo another significant drop before rising next summer.
A midweek update. For nearly three weeks now New York oil futures have cycled between $48 and $54 barrel, while London futures have climbed steadily reaching nearly $63 a barrel on Tuesday before falling to close at $60 on Wednesday.
A mid-week update. Oil prices underwent a three-day rally beginning last Friday and ending Tuesday, climbing some 19 percent on expectations that world oil supplies would soon start dropping.
A mid-week update. Oil has been trading in a relatively narrow range -- $46-$49 a barrel in New York and $47-50 in London since the first week of January.
A weekly roundup of peak oil news, including: -Oil and the Global Economy -The Middle East and North Africa -China -Russia/Ukraine