Definitions Crude Oil, petroleum found in liquid and semi liquid form including deepsea oil and lease condensates. Liquids, all forms of liquid fuels including conventional, heavy, and extra heavy oil, oil shale, oil sands, natural gas liquids, lease condensates, gas-to-liquids, coal-to-liquids, and biofuels. One Barrel of oil is equivalent to 159 litres Newsletter Index Page 2 - 4: World Oil Production Page 5: OPEC Oil Production Page 6: Non-OPEC Oil Production Page 7: OPEC Oil Consumption Page 8 - 12: OECD Oil Consumption Page 13: Asia Oil Consumption Page 14 - 16: OECD Crude Oil Stocks Page 17 - 19: Oil Imports & exports Page 20: OPEC Spare Capacity Page 21 - 23: Middle East Production Charts Page 24: Europe Production Charts Page 25 - 27: Africa Production Charts Page 28: Asia Production Charts Page 29: Former USSR Production Charts Page 30 - 31: North America Production Charts Page 32: South America Production Charts Page 33: Oceania Production Charts ASPO Netherlands Rembrandt Koppelaar +31 (0)6 44082419 [email protected] www.peakoil.nl Powered by www.theoildrum.com 16 September 2009 - (next update: 19 October 2009) Oilwatch Monthly - September 2009 Chart 1: Oil Price Weighed Average of Blends Source: Energy Information Admistration Oil market fundamentals and 2009 oil price movements This year we have so far seen two distinct price bands on the oil market. The first a price band between 40 and 50 dollars per barrel from January to April, which in May transitioned into the second price band between 60 and 72 dollars per barrel. Looking back, the latest data from the Joint Oil Data Initiative shows that this price shift coincided with a turnaround in declining demand in OECD countries. Every month from January to May OECD demand declined from a total of 45.31 million b/d in January to 42.19 million b/d in May. This changed when from May to June 2009 OECD consumption increased by 658,000 b/d to 42.85 million b/d. Oil production from May to June increased by only 190,000 b/d from 84.36 to 84.55 million b/d. Unfortunately the latest data point for oil demand is June, but more recent data for oil stocks, production and price movements are available. World oil production from June to July increased by 730,000 b/d and declined by 190,000 from July to August, to respectively production levels of 85.28 and 84.88 million b/d. OECD crude oil stocks declined from April to May from 1026 to 996 million barrels, to subsequently increase to 1011 million barrels in June and remain stable around that level in July. And prices went from 54.9 dollars per barrel in May to 67.7 in June, 64.6 in July, 71.4 dollars per barrel in August, and until 15 September averaged around 67 dollars per barrel. Summarizing oil prices have remained stable as well as OECD stocks, alongside a small increase in oil production since June. These movements would imply a continued increase in oil consumption in OECD countries, albeit probably a small increase given that the world increase in production from June to August has only been 330,000 b/d. Rembrandt Koppelaar President ASPO Netherlands Your coverage on the latest worldwide oil market developments 0 20 40 60 80 100 120 140 2002 2003 2004 2005 2006 2007 2008 2009 Dollars per Barrel Euros per Barrel
2009 September Oilwatch Monthly
Jan 17, 2015
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Definitions
Crude Oil, petroleum found in liquid and semi liquid form including deepsea oil and
lease condensates. Liquids, all forms of liquid fuels including conventional, heavy, and extra heavy oil, oil shale, oil sands, natural gas liquids, lease condensates, gas-to-liquids, coal-to-liquids, and biofuels.
One Barrel of oil is equivalent to 159 litres
Newsletter Index
Page 2 - 4: World Oil Production
Page 5: OPEC Oil Production
Page 6: Non-OPEC Oil Production
Page 7: OPEC Oil Consumption
Page 8 - 12: OECD Oil Consumption
Page 13: Asia Oil Consumption
Page 14 - 16: OECD Crude Oil Stocks
Page 17 - 19: Oil Imports & exports
Page 20: OPEC Spare Capacity
Page 21 - 23: Middle East Production Charts
Page 24: Europe Production Charts
Page 25 - 27: Africa Production Charts
Page 28: Asia Production Charts
Page 29: Former USSR Production Charts
Page 30 - 31: North America Production Charts
Page 32: South America Production Charts
Page 33: Oceania Production Charts
ASPO Netherlands
Rembrandt Koppelaar +31 (0)6 44082419 [email protected]
www.peakoil.nl
Powered by www.theoildrum.com
16 September 2009 - (next update: 19 October 2009)
Oilwatch Monthly - September 2009
Chart 1: Oil Price Weighed Average of Blends
Source: Energy Information Admistration
Oil market fundamentals and 2009 oil price movements
This year we have so far seen two distinct price bands on the oil market. The first a price band between 40 and 50 dollars per barrel from January to April, which in May transitioned into the second price band between 60 and 72 dollars per barrel. Looking back, the latest data from the Joint Oil Data Initiative shows that this price shift coincided with a turnaround in declining demand in OECD countries. Every month from January to May OECD demand declined from a total of 45.31 million b/d in January to 42.19 million b/d in May. This changed when from May to June 2009 OECD consumption increased by 658,000 b/d to 42.85 million b/d. Oil production from May to June increased by only 190,000 b/d from 84.36 to 84.55 million b/d.
Unfortunately the latest data point for oil demand is June, but more recent data for oil stocks, production and price movements are available. World oil production from June to July increased by 730,000 b/d and declined by 190,000 from July to August, to respectively production levels of 85.28 and 84.88 million b/d. OECD crude oil stocks declined from April to May from 1026 to 996 million barrels, to subsequently increase to 1011 million barrels in June and remain stable around that level in July. And prices went from 54.9 dollars per barrel in May to 67.7 in June, 64.6 in July, 71.4 dollars per barrel in August, and until 15 September averaged around 67 dollars per barrel.
Summarizing oil prices have remained stable as well as OECD stocks, alongside a small increase in oil production since June. These movements would imply a continued increase in oil consumption in OECD countries, albeit probably a small increase given that the world increase in production from June to August has only been 330,000 b/d.
Rembrandt Koppelaar President ASPO Netherlands
Your coverage on the latest worldwide oil market developments
0
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40
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100
120
140
2002 2003 2004 2005 2006 2007 2008 2009
Dollars per Barrel
Euros per Barrel
ASPO Netherlands
Page 2
World liquid fuels productionIn August 2009 world production of all liquid fuels declined by 400,000 barrels per day from July according to the latest fgures of the International Energy Agency (IEA). Resulting in total world liquid fuels production of 84.88 million b/d. Liquids production for July 2009 was revised upward in the IEA Oil Market Report of August from 85.15 to 85.28 million b/d. Average global liquid fuels production in 2009 up to August was 84.6 million b/d versus 86.6 and 85.32 million b/d in respectively 2008 and 2007.
World Oil Production
Chart 2: Liquids Production January 2004 - August 2009
Source: International Energy Agency & Energy Information Administration
World natural gas liquids productionNatural Gas Liquids production from natural gas fields declined by 21,000 b/d from May to June 2009 according to the latest International Petroleum Monthly of the Energy Information Administration (EIA). Resulting in a total NGL production of 8.06 million b/d.
World crude oil productionLatest figures from the Energy Information Administration (EIA) show that crude oil production including lease condensates increased by 444,000 b/d from May to June 2009. Resulting in total production of crude oil including lease condensates of 71.78 million b/d. Crude oil production in the EIA International Petroleum Monthly for May 2009 was revised downward from 71.8 to 71.33 million b/d. The all time high production record of crude oil stands at 74.74 million b/d reached in July 2008.
Chart 3: Crude Oil Production January 2004 - June 2009
Source: Energy Information Administration
Chart 4: Liquids Production January 2004 - June 2009
Source: Energy Information Administration
78
80
82
84
86
88
90
2004 2005 2006 2007 2008 2009
Mill
ion
barr
els
per
day
Liquids (IEA)
Liquids (EIA)
69
70
71
72
73
74
75
76
2004 2005 2006 2007 2008 2009
Crude Oil (EIA)
6.4
6.6
6.8
7.0
7.2
7.4
7.6
7.8
8.0
8.2
2004 2005 2006 2007 2008 2009
Natural Gas Liquids (EIA)
ASPO Netherlands
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World energy content from liquid fuels productionIn production statistics all liquid fuels are aggregated as total ‘oil’ production while containing different amounts of energy per barrel produced. For example, a barrel of crude oil contains around 5.8 million British Thermal Units while a similar barrel of natural gas liquids contains 4.2 million BTU. Conversion to BTU’s shows that actual available energy worldwide in June 2009 was 3.3% lower than liquids statistics counted in barrels would suggest.
World unconventional liquid fuels productionIn 2008 the biggest part of unconventional liquid fuels production came from Natural Gas Liquids at 11% or 7.94 million b/d. Secondly, extra heavy crude and bitumen at 3.4% or 2.68 million b/d of which 1.27 million b/d from Canadian oil sands and 1.41 million b/d from other sources. Thirdly, Biofuels at 1.8% or 1.45 million b/d. A and finally Polar Oil at a production rate of 840,000 b/d in 2008 or 1.1% of total liquids supply.
World conventional crude versus liquids production ratioApproximately 85% of world liquid fuels production in 2008 came from conventional crude oil including lease condensates. The remaining share of 15% was produced by unconventional sources including Biofuels, Extra Heavy Oil, Tar Sands, Polar Oil and Natural Gas Liquids. In absolute amounts unconventional production has increased steadily, from 4 million b/d at the end of the 1970s, to approximately 12.9 mb/d in 2008, excluding lease condensates.
Chart 5: World Crude and Liquids production 1938 - 2008
Source: International Energy Agency & Energy Information Administration
Chart 6: Unconventional Oil Production 1938 - 2008
Source: EIA, EIA & CAPP
Chart 7: World Production in BTU January 2003 - August 2009
Source: International Energy Agency
0
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8
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12
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1938 1948 1958 1968 1978 1988 1998 2008
Biofuels
X-Heavy crude (excl. Canada)
Canadian Oil Sands
Polar Oil
Natural Gas Liquids
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1938 1948 1958 1968 1978 1988 1998 2008
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Conventional crude
World Oil Production
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375
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425
450
475
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525
550
2003 2004 2005 2006 2007 2008 2009
Trill
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per
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Biofuels
Natural Gas Liquids
Crude Oil
12m rolling average
ASPO Netherlands
Page 4
EIA liquids versus IEA liquids excluding biofuels productionLiquid fuels production figures published by the Energy Information Administration in their International Petroleum Monthly exclude biofuels. These figures are comparable to total liquids statistics published by the International Energy Agency when subtracting our estimate for world biofuels production.
IEA liquid fuels versus liquids excluding biofuels productionTotal liquid fuels production excluding biofuels in August 2009 is estimated to be 83.33 million b/d, a decline of 400,000 b/d from July production according to the latest figures of the International Energy Agency.
World biofuels productionTotal world biofuel in August 2009 is estimated to be 1.58 million b/d based on statistics compiled from the Energy Information Administration, the International Energy Agency and the Brazilian ministry of Energy. With an estimated 710,000 b/d from the United States, 510,000 b/d from Brazil and 360,000 b/d from other countries.
Chart 8: World Biofuels Production Jan. 2004 - August 2009
Source: IEA, EIA, Brazilian Ministry of Energy
Chart 9: IEA Liquids comparison January 2004 - August 2009
Source: Energy Information Administration
Chart 10: EIA & EIA Liquids Comparison Jan. 2004 - August 2009
Source: Energy Information Administration
World Oil Production
0.0
0.2
0.4
0.6
0.8
1.0
1.2
1.4
1.6
1.8
2004 2005 2006 2007 2008 2009
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Biofuels (IEA)
76
78
80
82
84
86
88
90
2004 2005 2006 2007 2008 2009
Liquids excluding biofuels (IEA)
Liquids (IEA)
78
79
80
81
82
83
84
85
86
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88
2004 2005 2006 2007 2008 2009
Liquids excluding biofuels (IEA)
Liquids (EIA)
ASPO Netherlands
Page 5
OPEC natural gas liquids productionOPEC natural gas liquids remained stable from July to August at a level of 5.36 million b/d. Average OPEC natural gas liquids production in 2009 up to August was 5.01 million b/d, versus 4.66 and 4.55 million b/d in respectively 2008 and 2007.
OPEC crude oil productionTotal crude oil production excluding lease condensates of the OPEC cartel increased by 50,000 b/d to a level of 28.80 million b/d, from July to August 2009, according to the latest available estimate of the IEA. Average crude oil production in 2009 up to August was 28.58 million b/d, versus 31.43 and 30.37 million b/d in respectively 2008 and 2007.
OPEC liquid fuels productionTotal liquid fuels production in OPEC countries increased by 50,000 b/d from July to August to a level of 34.16 million b/d. Average liquid fuels production in 2009 up to August was 33.59 million b/d, versus 36.09 and 35.02 million b/d in respectively 2008 and 2007. All time high production of OPEC liquid fuels stands at 36.58 million b/d reached in July 2008.
Chart 11: OPEC Liquids Production Jan. 2004 - August 2009
Source: International Energy Agency & Energy Information Administration
Chart 12: OPEC Crude Oil Production Jan. 2004 - August 2009
Source: Energy Information Administration
Chart 13: OPEC NGL Production January 2004 - August 2009
Source: Energy Information Administration
OPEC Oil Production
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30
31
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36
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2004 2005 2006 2007 2008 2009
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per
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Liquids (IEA)
Liquids (EIA)
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26
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29
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2004 2005 2006 2007 2008 2009
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Crude Oil (EIA)
2.5
3.0
3.5
4.0
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5.0
5.5
6.0
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Natural Gas Liquids (IEA)
Natural Gas Liquids (EIA)
ASPO Netherlands
Page 6
Non-OPEC natural gas liquids productionNon-OPEC natural gas liquids production decreased by 117,000 from May to June to a level of 3.30 million b/d. Average Non-OPEC natural gas liquids production in 2009 up to August was 3.41 million b/d, versus 3.65 and 3.79 million b/d in respectively 2008 and 2007.
Non-OPEC crude oil productionTotal Non-OPEC crude oil production excluding lease condensates increased by 162,000 b/d to a level of 41.24 million b/d, from May to June 2009, according to the latest available estimate of the EIA. Crude oil production in the EIA International Petroleum Monthly for May 2009 was revised downward from 41.5 to 41.08 million b/d. Average crude oil production in 2009 up to June was 41.51 million b/d, versus 41.32 and 41.80 million b/d in respectively 2008 and 2007.
Non-OPEC liquid fuels productionTotal liquid fuels production excluding biofuels in Non-OPEC countries decreased by 450,000 b/d from July to August 2009. Resulting in a production level of 49.17 million b/d according to the International Energy Agency. Average liquid fuels production in 2009 up to August was 49.51 million b/d, versus 49.32 and 49.34 million b/d in respectively 2008 and 2007.
Chart 14: Non-OPEC Liquids Production Jan. 2004 - Aug. 2009
Source: International Energy Agency & Energy Information Administration
Chart 15: Non-OPEC Crude Oil Production Jan. 2004 - Aug. 2009
Source: Energy Information Administration
Chart 16: Non-OPEC NGL Production Jan. 2004 - August 2009
Source: Energy Information Administration
Non-OPEC Oil Production
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45
46
47
48
49
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51
2004 2005 2006 2007 2008 2009
Mill
ion
barr
els
per
day
Liquids (IEA)
Liquids (EIA)
39
40
40
41
41
42
42
43
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2004 2005 2006 2007 2008 2009
Crude oil (EIA)
2.0
2.5
3.0
3.5
4.0
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2004 2005 2006 2007 2008 2009
Natural Gas Liquids (EIA)
ASPO Netherlands
Page 7
Saudi Arabia oil consumptionOil consumption in Saudi Arabia increased by 193,000 b/d from May to June to a level of 2.2 million b/d. Average Saudi Arabian oil consumption in 2009 up to June was 1.70 million b/d, versus 1.65 and 1.52 million b/d in respectively 2008 and 2007.
Iran oil consumptionOil consumption in Iran increased by 10,000 b/d from May to June to a level of 1.50 million b/d. Average Iranian oil consumption in 2009 up to June was 1.53 million b/d, versus 1.64 and 1.52 million b/d in respectively 2008 and 2007.
OPEC oil consumptionOil consumption in all the OPEC oil producers combined increased by 235,000 b/d from May to June to a level of 6.25 million b/d. Average OPEC oil consumption in 2009 up to June was 5.74 million b/d, versus 5.76 and 5.30 million b/d in respectively 2008 and 2007.
Chart 17: OPEC Oil Consumption January 2004 - June 2009
Source: Joint Oil Data Initiative
Chart 18: Iran Oil Consumption January 2004 - June 2009
Source: Joint Oil Data Initiative
Chart 19: Saudi Arabia Oil Consumption Jan. 2004 - June 2009
Source: Joint Oil Data Initiative
OPEC Oil Consumption
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2004 2005 2006 2007 2008 2009
Mill
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Iraq VenezuelaUAE Saudi ArabiaQatar NigeriaLibya KuwaitIran EcuadorAngola Algeria12m rolling average
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0.4
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Iran oil consumption (JODI)
12m rolling average
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Saudi Arabia oil consumption (JODI)
12m rolling average
ASPO Netherlands
Page 8
Chart 20: OECD Oil Consumption January 2004 - June 2009
Source: Joint Oil Data Initiative
Chart 21: North America Oil Consumption Jan. 2004 - June 2009
Source: Joint Oil Data Initiative
Chart 22: EU-27 Oil Consumption January 2004 - June 2009
Source: Joint Oil Data Initiative
European Union oil consumptionOil consumption in the European Union decreased by 122,000 b/d from May to June to a level of 12.96 million b/d. Average consumption in the European Union in 2009 up to June was 13.57 million b/d, versus 14.25 and 14.32 million b/d in respectively 2008 and 2007.
North America oil consumptionOil consumption in North America increased by 274,000 b/d to a level of 22.39 million b/d from May to June 2009. Average oil consumption in North America in 2009 up to June was 22.44 million b/d, versus 23.50 and 24.72 million b/d in respectively 2008 and 2007.
OECD oil consumptionOil consumption in OECD countries increased by 659,000 b/d from May to June to a level of 42.85 million b/d. Average OECD oil consumption in 2009 up to June was 43.87 million b/d, versus 46.10 and 47.68 million b/d in respectively 2008 and 2007.
OECD Oil Consumption
38.0
39.0
40.0
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46.0
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2004 2005 2006 2007 2008 2009
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barr
els
per
day
OECD oil consumption (JODI)
12m rolling average
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21.2
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North America oil consumption (JODI)
12m rolling average
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EU-27 oil consumption (JODI)
12m rolling average
ASPO Netherlands
Page 9
Chart 23: US Oil Consumption January 2004 - June 2009
Source: Joint Oil Data Initiative
Chart 24: Mexico Oil Consumption Jan. 2004 - June 2009
Source: Joint Oil Data Initiative
Chart 25: Canada Oil Consumption January 2004 - June 2009
Source: Joint Oil Data Initiative
Canada oil consumptionOil consumption in Canada increased by 98,000 b/d from Mau tp June to a level of 2.02 million b/d. Average consumption in Canada in 2009 up to June was 1.96 million b/d, versus 2.06 and 2.08 million b/d in respectively 2008 and 2007.
Mexico oil consumptionOil consumption in Mexico increased by 10,000 b/d to a level of 1.95 million b/d. Average oil consumption in Mexico in 2009 up to June was 1.87 million b/d, versus 1.95 and 1.94 million b/d in respectively 2008 and 2007.
United States oil consumptionOil consumption in the US increased by 166,000 b/d from May to June to a level of 18.26 million b/d. Average consumption of oil in the US in 2009 up to June was 18.61 million b/d, versus 19.50 and 20.70 million b/d in respectively 2008 and 2007.
OECD Oil Consumption
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2004 2005 2006 2007 2008 2009
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els
per
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US oil consumption (JODI)
12m rolling average
1.5
1.6
1.7
1.8
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2.1
2.2
2.3
2004 2005 2006 2007 2008 2009
Mexico oil consumption (JODI)
12m rolling average
1.6
1.7
1.8
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2.1
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2004 2005 2006 2007 2008 2009
Canada oil consumption (JODI)
12m rolling average
ASPO Netherlands
Page 10
Chart 26: France Oil Consumption January 2004 - June 2009
Source: Joint Oil Data Initiative
Chart 27: Germany Oil Consumption Jan. 2004 - June 2009
Source: Joint Oil Data Initiative
Chart 28: Italy Oil Consumption January 2004 - June 2009
Source: Joint Oil Data Initiative
Italy oil consumptionOil consumption in Italy increased by 58,000 b/d from May to June to a level of 1.54 million b/d. Average consumption in Italy in 2009 up to June was 1.51 million b/d, versus 1.60 and 1.67 million b/d in respectively 2008 and 2007.
Germany oil consumptionOil consumption in Germany decreased by 100,000 b/d to a level of 2.31 million b/d from May to June. Average oil consumption in Germany in 2009 up to June was 2.46 million b/d, versus 2.56 and 2.47 million b/d in respectively 2008 and 2007.
France oil consumptionOil consumption in France remained stable from May to June at 1.68 million b/d. Average consumption of oil in France in 2009 up to June was 1.85 million b/d, versus 1.94 and 1.94 million b/d in respectively 2008 and 2007.
OECD Oil Consumption
1.6
1.7
1.8
1.9
2.0
2.1
2.2
2.3
2004 2005 2006 2007 2008 2009
Mill
ion
barr
els
per
day
France oil consumption (JODI)
12m rolling average
1.8
1.9
2.0
2.1
2.2
2.3
2.4
2.5
2.6
2.7
2.8
2.9
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2004 2005 2006 2007 2008 2009
Germany oil consumption (JODI)
12m rolling average
1.0
1.1
1.2
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1.8
1.9
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2004 2005 2006 2007 2008 2009
Italy oil consumption (JODI)
12m rolling average
ASPO Netherlands
Page 11
Chart 29: Spain Oil Consumption January 2004 - June 2009
Source: Joint Oil Data Initiative
Chart 30: UK Oil Consumption Jan. 2004 - June 2009
Source: Joint Oil Data Initiative
Chart 31: Poland Oil Consumption January 2004 - June 2009
Source: Joint Oil Data Initiative
Poland oil consumptionOil consumption in Poland increased by 18,000 b/d from May to June to a level of 530,000 b/d. Average consumption in Poland in 2009 up to June was 489,000 b/d, versus 527,000 and 507,000 b/d in respectively 2008 and 2007.
United Kingdom oil consumptionOil consumption in the United Kingdom remained stable around 1.51 million b/d from May to June. Average oil consumption in the United Kingdom in 2009 up to June was 1.58 million b/d, versus 1.61 and 1.67 million b/d in respectively 2008 and 2007.
Spain oil consumptionOil consumption in Spain increased by 81,000 b/d from May to June to a level of 1.46 million b/d. Average oil consumption in Spain in 2009 up to June was 1.48 million b/d, versus 1.54 and 1.59 million b/d in respectively 2008 and 2007.
OECD Oil Consumption
1.2
1.3
1.4
1.5
1.6
1.7
1.8
2004 2005 2006 2007 2008 2009
Mill
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barr
els
per
day
Spain oil consumption (JODI)
12m rolling average
1.0
1.1
1.2
1.3
1.4
1.5
1.6
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1.8
1.9
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2.1
2.2
2004 2005 2006 2007 2008 2009
UK oil consumption (JODI)
12m rolling average
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2004 2005 2006 2007 2008 2009
Poland oil consumption (JODI)
12m rolling average
ASPO Netherlands
Page 12
Chart 32: Netherlands Oil Consumption Jan. 2004 - June 2009
Source: Joint Oil Data Initiative
Chart 33: Japan Oil Consumption Jan. 2004 - June 2009
Source: Joint Oil Data Initiative
Chart 34: South Korea Oil Consumption Jan. 2004 - June 2009
Source: Joint Oil Data Initiative
South Korea oil consumptionOil consumption in South Korea decreased by 37,000 b/d to a level of 2.15 million b/d from May to June 2009. Average consumption in South Korea in 2009 up to June was 2.29 million b/d, versus 2.21 and 2.29 million b/d in respectively 2008 and 2007.
Japan oil consumptionOil consumption in Japan increased by 301,000 b/d to a level of 4.18 million b/d from May to June 2009. Average oil consumption in Japan in 2009 up to June was 4.45 million b/d, versus 4.92 and 5.13 million b/d in respectively 2008 and 2007.
Netherlands oil consumptionOil consumption in the Netherlands decreased by 155,000 b/d from May to June to a level of 687,000 million b/d. Average oil consumption in the Netherlands in 2009 up to June was 868,000 b/d, versus 945,000 and 920,0000 b/d in respectively 2008 and 2007.
OECD Oil Consumption
0.6
0.7
0.8
0.9
1.0
1.1
1.2
2004 2005 2006 2007 2008 2009
Mill
ion
barr
els
per
day
Netherlands oil consumption (JODI)
12m rolling average
3.0
3.5
4.0
4.5
5.0
5.5
6.0
6.5
7.0
2004 2005 2006 2007 2008 2009
Japan oil consumption (JODI)
12m rolling average
1.4
1.6
1.8
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2.2
2.4
2.6
2.8
3.0
2004 2005 2006 2007 2008 2009
South Korea oil consumption (JODI)
12m rolling average
ASPO Netherlands
Page 13
Chart 35: China Oil Consumption January 2004 - June 2009
Source: Joint Oil Data Initiative
Chart 36: India Oil Consumption Jan. 2004 - June 2009
Source: Joint Oil Data Initiative
Chart 37: Taiwan Oil Consumption January 2004 - June 2009
Source: Joint Oil Data Initiative
Taiwan oil consumptionOil consumption in Taiwan increased by 90,000 b/d to a level of 1.05 million b/d from May to June 2009. Average consumption in Taiwan in 2009 up to June was 961,000 b/d, versus 978,000 and 958,000 b/d in respectively 2008 and 2007.
India oil consumptionOil consumption in India increased by 144,000 b/d to a level of 2.96 million b/d. Average oil consumption in India in 2009 up to June was 2.92 million b/d, versus 2.60 and 2.43 million b/d in respectively 2008 and 2007.
China oil consumptionOil consumption in China increased by 654,000 b/d from May to June to a level of 8.19 million b/d. Average oil consumption in China in 2009 up to June was 7.18 million b/d, versus 6.92 and 7.29 million b/d in respectively 2008 and 2007.
Asia Oil Consumption
1.2
1.4
1.6
1.8
2.0
2.2
2.4
2.6
2.8
3.0
3.2
3.4
2004 2005 2006 2007 2008 2009
India oil consumption (JODI)
12m rolling average
0.4
0.5
0.6
0.7
0.8
0.9
1.0
1.1
1.2
1.3
1.4
2004 2005 2006 2007 2008 2009
Taiwan oil consumption (JODI)
12m rolling average
4.0
4.5
5.0
5.5
6.0
6.5
7.0
7.5
8.0
8.5
9.0
9.5
10.0
2004 2005 2006 2007 2008 2009
Mill
ion
barr
els
per
day
China oil consumption (JODI)
12m rolling average
ASPO Netherlands
Page 14
Chart 38: OECD Crude Oil Stocks January 2004 - July 2009
Source: International Energy Agency
Chart 39: OECD Product Stocks January 2004 - July 2009
Source: International Energy Agency
Chart 40: Europe Crude Oil Stocks January 2004 - July 2009
Source: International Energy Agency
Europe crude oil stocksIndustrial inventories of crude oil in OECD Europe in July 2009 decreased to 338 million from 343 million barrels in June according to the latest IEA statistics. Current OECD Europe crude oil stocks are 2 million barrels higher than the five year average of 336 million barrels.
OECD product stocksIndustrial product stocks in the OECD in July 2009 increased to 1470 million from 1459 million barrels in June according to the latest IEA Statistics. Current OECD product stocks are 72 million barrels higher than the five year average of 1398 million barrels. In the August Oil Market Report of the IEA a total stock level of 1467 million barrels was tabulated for June which has been revised downwards to 1459 million barrels in the September edition.
OECD crude oil stocksIndustrial inventories of crude oil in the OECD in July 2009 increased to a level of 1012 million from 1011 million barrels in June according to the latest IEA statistics. Current OECD crude oil stocks are 54 million barrels higher than the five year average of 958 million barrels. In the August Oil Market Report of the IEA a total stock level of 990 million barrels was tabulated for June which has been revised upwards to 1011 million barrels in the September edition.
OECD Crude Oil Stocks
600
700
800
900
1000
1100
1200
2002 2003 2004 2005 2006 2007 2008 2009
Mill
ion
barr
els
per
day
OECD crude oil stocks (IEA)
1000
1100
1200
1300
1400
1500
1600
2002 2003 2004 2005 2006 2007 2008 2009
OECD product stocks (IEA)
200
225
250
275
300
325
350
375
400
425
2002 2003 2004 2005 2006 2007 2008 2009
Europe crude oil stocks (IEA)
ASPO Netherlands
Page 15
Chart 41: Europe Product Stocks January 2004 - July 2009
Source: International Energy Agency
Chart 43: Pacific Product Stocks January 2004 - July 2009
Source: International Energy Agency
Chart 42: Pacific Crude Oil Stocks January 2004 - July 2009
Source: International Energy Agency
Pacific product stocksIndustrial product stocks in OECD Pacific in July 2009 increased to 170 million from 165 million barrels in June according to the latest IEA Statistics. Current OECD Pacific product stocks are 11 million barrels lower than the five year average of 181 million barrels.
Pacific crude oil stocksIndustrial inventories of crude oil in OECD Pacific in July 2009 increased to a level of 178 million from 170 million barrels in June according to the latest IEA statistics. Current OECD Pacific crude oil stocks are 8 million barrels lower than the five year average of 170 million barrels.
Europe product stocksIndustrial product stocks in OECD Europe in July 2009 remained stable at 571 million barrels from June according to the latest IEA statistics. Current OECD Europe product stocks are 21 million barrels higher than the five year average of 550 million barrels.
OECD Crude Oil Stocks
400
425
450
475
500
525
550
575
600
625
650
2002 2003 2004 2005 2006 2007 2008 2009
Mill
ion
barr
els
per
day
Europe product stocks (IEA)
50
75
100
125
150
175
200
225
250
2002 2003 2004 2005 2006 2007 2008 2009
Pacific crude oil stocks (IEA)
100
125
150
175
200
225
250
2002 2003 2004 2005 2006 2007 2008 2009
Pacific product stocks (IEA)
ASPO Netherlands
Page 16
Chart 44: North America Crude Oil Stocks Jan. 2004 - May 2009
Source: International Energy Agency
Chart 45: North America Product Stocks Jan. 2004 - June 2009
Source: International Energy Agency
Chart 46: United States Gasoline Stocks Jan. 2004 - July 2009
Source: Energy Information Administration
US gasoline stocksGasoline stocks in the United States in August 2009 decreased to 209 million from 214 million barrels in July according to the latest EIA Statistics. Current Gasoline stocks are 1 million barrels lower than the five year average of 208 million barrels.
North America product stocksIndustrial product stocks in OECD Pacific in July 2009 increased to 730 million from 723 million barrels in June according to the latest IEA Statistics. Current OECD Pacific product stocks are 32 million barrels higher than the five year average of 693 million barrels.
North America crude oil stocksIndustrial inventories of crude oil in OECD North America in July 2009 decreased to a level of 497 million from 499 million barrels in June according to the latest IEA statistics. Current OECD North America crude oil stocks are 44 million barrels lower than the five year average of 453 million barrels. In the August Oil Market Report of the IEA a total stock level of 487 million barrels was tabulated for June which has been revised upwards to 499 million barrels in the September edition.
OECD Crude Oil Stocks
250
275
300
325
350
375
400
425
450
475
500
525
550
575
600
2002 2003 2004 2005 2006 2007 2008 2009
Mill
ion
barr
els
per
day
North America crude oil stocks (IEA)
450
500
550
600
650
700
750
800
2002 2003 2004 2005 2006 2007 2008 2009
North America product stocks (IEA)
100
125
150
175
200
225
250
275
300
2002 2003 2004 2005 2006 2007 2008 2009
US gasoline stocks (EIA)
ASPO Netherlands
Page 17
Chart 47: Mexico oil exports 1st qrt. 2002 - 1st qrt. 2009
Source: International Energy Agency
Chart 48: UK oil exports 1st qrt. 2002 - 1st qrt. 2009
Source: International Energy Agency
Chart 49: Norway oil exports 1st qrt. 2002 - 1st qrt. 2009
Source: International Energy Agency
Norway oil exportsOil exports from Norway increased by 37,000 b/d from 4th qrt. 2008 to 1st qrt. 2009 to a level of 1.91 million b/d. Average oil export from Norway in 2008 was 1.67 million b/d, versus 1.97 and 2.17 million b/d in respectively 2007 and 2006.
United Kingdom oil exportsOil exports from the United Kingdom decreased by 73,000 b/d 4th qrt. 2008 to 1st qrt. 2009 to a level of 876,000 b/d. Average oil export from the United Kingdom in 2008 was 957,000 b/d, versus 1.02 and 1.00 million b/d in respectively 2007 and 2006. Since 2004 the United Kingdom became a net importer of oil. Net imports were 186,000 b’/d in 1st qrt. 2009.
Mexico oil exportsOil exports from Mexico decreased by 172,000 b/d from 4th qrt. 2008 to 1st qrt. 2009 to a level of 1.40 million b/d. Average oil export from Mexico in 2008 was 1.55 million b/d, versus 1.85 and 2.04 million b/d in respectively 2007 and 2006.
Oil Imports & Exports
0.0
0.5
1.0
1.5
2.0
2.5
3.0
3.5
4.0
2002 2003 2004 2005 2006 2007 2008
Mill
ion
barr
els
per
day
Liquids exports (IEA)
Liquids Production (IEA)
0.0
0.2
0.4
0.6
0.8
1.0
1.2
1.4
1.6
1.8
2.0
2.2
2.4
2.6
2.8
3.0
2002 2003 2004 2005 2006 2007 2008
Liquids exports (IEA)
Liquids Production (IEA)
Liquids imports (IEA)
0.8
1.0
1.2
1.4
1.6
1.8
2.0
2.2
2.4
2.6
2.8
3.0
3.2
3.4
3.6
2002 2003 2004 2005 2006 2007 2008
Liquids exports (IEA)
Liquids Production (IEA)
ASPO Netherlands
Page 18
Chart 50: Denmark oil exports 1st qrt. 2002 - 1st qrt. 2009
Source: International Energy Agency
Chart 51: Australia oil exports 1st qrt. 2002 - 1st qrt. 2009
Source: International Energy Agency
Chart 52: Japan Oil Imports 1st qrt. 2002 - 1st qrt. 2009
Source: International Energy Agency
Japan oil importsOil imports in Japan decreased by 64,000 b/d from 4th qrt. 2008 to 1st qrt. 2009 to a level of 3.87 million b/d. Average oil import in Japan in 2008 was 4.12 million b/d, versus 4.09 and 4.15 million b/d in respectively 2007 and 2006.
Australia oil exportsOil exports from Australia decreased by 47,000 b/d from 4th qrt. 2008 to 1st qrt. 2009 to a level of 260,000 b/d. Average oil export from Australia in 2008 was 270,000 b/d, versus 252,000 b/d and 217,000 b/d in respectively 2007 and 2006.
Denmark oil exportsOil exports from Denmark decreased by 17,000 b/d from 4th qrt. 2008 to 1st qrt. 2009 to a level of 167,000 b/d. Average oil export from Denmark in 2008 was 184,000 b/d, versus 191,000 and 233,000 b/d in respectively 2007 and 2006.
Oil Imports & Exports
0.00
0.05
0.10
0.15
0.20
0.25
0.30
0.35
0.40
0.45
0.50
0.55
0.60
2002 2003 2004 2005 2006 2007 2008
Mill
ion
barr
els
per
day
Liquids exports (IEA)
Liquids Production (IEA)
Liquids imports (IEA)
0.0
0.1
0.2
0.3
0.4
0.5
0.6
0.7
0.8
0.9
1.0
2002 2003 2004 2005 2006 2007 2008
Liquids exports (IEA)
Liquids Production (IEA)
Liquids imports (IEA)
3.2
3.4
3.6
3.8
4.0
4.2
4.4
4.6
4.8
5.0
2002 2003 2004 2005 2006 2007 2008
Liquids (IEA)
ASPO Netherlands
Page 19
Chart 53: OECD Oil Imports 1st qrt. 2002 - 1st qrt. 2009
Source: International Energy Agency
Chart 54: US Oil Imports 1st qrt. 2002 - 1st qrt. 2009
Source: International Energy Agency
Chart 55: OECD Europe Oil Imports 1st qrt. 2002 - 1st qrt. 2009
Source: International Energy Agency
OECD Europe oil importsOil imports from OECD Europe decreased by 854,000 b/d from 4th qrt. 2008 to 1st qrt. 2009 to a level of 11.98 million b/d. Average oil import in OECD Europe in 2008 was 12.98 million b/d, versus 13.05 and 13.18 million b/d in respectively 2007 and 2006.
United States oil importsOil imports in the United States decreased by 661,000 b/d from 4th qrt. 2008 to 1st qrt. 2009 to a level of 10.84 million b/d. Average oil import in the United States in 2008 was 11.43 million b/d, versus 11.55 and 11.77 million b/d in respectively 2007 and 2006.
OECD oil importsOil imports in the group of OECD countries decreased by 1.60 million b/d from 4th qrt. 2008 to 1st qrt. 2009 to a level of 30.43 million b/d. Average oil import in OECD countries in 2008 was 32.19 million b/d, versus 32.47 and 32.7 million b/d in respectively 2007 and 2006.
Oil Imports & Exports
29.0
29.5
30.0
30.5
31.0
31.5
32.0
32.5
33.0
33.5
34.0
2002 2003 2004 2005 2006 2007 2008
Mill
ion
barr
els
per
day
Liquids (IEA)
9.0
9.5
10.0
10.5
11.0
11.5
12.0
12.5
13.0
2002 2003 2004 2005 2006 2007 2008
Liquids (IEA)
11.0
11.5
12.0
12.5
13.0
13.5
14.0
2002 2003 2004 2005 2006 2007 2008
Liquids (IEA)
ASPO Netherlands
Page 20
Chart 56: IEA OPEC Spare Capacity January 2003 - August 2009
Source: International Energy Agency
Chart 57: EIA OPEC Spare Capacity January 2003 - August 2009
Source: Energy Information Administration
Chart 58: Saudi Arabia Spare Capacity Jan. 2003 - August 2009
Source: International Energy Agency & Energy Information Administration
Saudi Arabia spare capacitySpare capacity in Saudi Arabia increased to 2.60 million b/d in August from a level of 2.50 million b/d in July according to the Energy Information Administration. Statistics from the International Energy Agency show an increase in Saudi spare capacity to 3.40 million from 3.30 million b/d from July to August.
EIA OPEC spare capacityTotal OPEC spare production capacity in August 2009 declined by 690,000 b/d to a level of 3.51 million b/d from 4.2 million b/d in July according to the Energy Information Administration. Of total August spare capacity 2.60 million b/d is estimated to come from Saudi Arabia by the EIA, 0.22 million b/d from Qatar, 0.19 million b/d from Angola, 0.20 million b/d from Kuwait, 0.30 million b/d from the United Arab Emirates, 0.10 million b/d from Iran, and no spare capacity from other countries.
IEA OPEC spare capacityAccording to the International Energy Agency total effective spare capacity (excluding Iraq, Venezuela and Nigeria) in August 2009 remained stable at 5.30 million from July. Of total August spare capacity according to the IEA Saudi Arabia can produce an additional 3.4 million b/d within 90 days, the United Arab Emirates 0.58 million b/d, Angola 0.31 million b/d, Iran 0.20 million b/d, Libya 0.22 million b/d, Qatar 0.13 million b/d, and the other remaining countries 0.46 million b/d.
OPEC Spare Capacity
0
1
2
3
4
5
6
7
8
2003 2004 2005 2006 2007 2008 2009
Mill
ion
barr
els
per
day
Venezuela UAESaudi Arabia QatarNigeria LibyaKuwait IraqIran EcuadorAngola Algeria
0
0.5
1
1.5
2
2.5
3
3.5
4
4.5
5
2003 2004 2005 2006 2007 2008 2009
Venezuela UAESaudi Arabia QatarNigeria LibyaKuwait IraqIran EcuadorAngola Algeria
0.0
0.5
1.0
1.5
2.0
2.5
3.0
3.5
4.0
4.5
5.0
2003 2004 2005 2006 2007 2008 2009
Saudi spare capacity (IEA)
Saudi spare capacity (EIA)
ASPO Netherlands
Page 21
Chart 59: Kuwait Liquids Production 1945 - 2008
Source: ASPO Ireland & BP Statistical Review of World Energy
Chart 62: Kuwait Oil Production January 2004 - August 2009
Source: International Energy Agency & Energy Information Administration
Chart 61: Qatar Liquids Production 1945 - 2008
Source: ASPO Ireland & BP Statistical Review of World Energy
Chart 64: Qatar Oil Production January 2004 - August 2009
Source: International Energy Agency & Energy Information Administration
Chart 60: Iran Liquids Production 1930 - 2008
Source: ASPO Ireland & BP Statistical Review of World Energy
Chart 63: Iran Oil Production January 2004 - August 2009
Source: International Energy Agency & Energy Information Administration
0.0
0.5
1.0
1.5
2.0
2.5
3.0
3.5
4.0
4.5
5.0
1945 1957 1969 1981 1993 2005
Mill
ion
barr
els
per
day Liquids
0.0
1.0
2.0
3.0
4.0
5.0
6.0
7.0
1930 1945 1960 1975 1990 2005
Liquids
0.0
0.2
0.4
0.6
0.8
1.0
1.2
1.4
1945 1957 1969 1981 1993 2005
Liquids
Middle East Oil Production
2.0
2.2
2.4
2.6
2.8
3.0
3.2
3.4
2004 2005 2006 2007 2008 2009
Mill
ion
barr
els
per
day
Crude Oil (IEA)
Crude Oil (EIA)
Liquids excluding biofuels (IEA)
3.4
3.6
3.8
4.0
4.2
4.4
4.6
4.8
5.0
5.2
2004 2005 2006 2007 2008 2009
Crude Oil (IEA)
Crude Oil (EIA)
Liquids excluding biofuels (IEA)
0.4
0.6
0.8
1.0
1.2
1.4
1.6
1.8
2.0
2.2
2004 2005 2006 2007 2008 2009
Crude Oil (IEA)Crude Oil (EIA)Liquids excluding biofuels (IEA)
ASPO Netherlands
Page 22
Chart 65: Saudi Arabia Liquids Production 1935 - 2008
Source: ASPO Ireland & BP Statistical Review of World Energy
Chart 68: Saudi Arabia Oil Production January 2004 - Aug. 2009
Source: International Energy Agency & Energy Information Administration
Chart 67: Iraq Liquids Production1930 - 2008
Source: ASPO Ireland & BP Statistical Review of World Energy
Chart 70: Iraq Oil Production January 2004 - August 2009
Source: International Energy Agency & Energy Information Administration
Chart 66: UAE Liquids Production 1960 - 2008
Source: ASPO Ireland & BP Statistical Review of World Energy
Chart 69: UAE Oil Production January 2004 - August 2009
Source: International Energy Agency & Energy Information Administration
0.0
2.0
4.0
6.0
8.0
10.0
12.0
1930 1945 1960 1975 1990 2005
Mill
ion
barr
els
per
day
Liquids
0.0
0.5
1.0
1.5
2.0
2.5
3.0
3.5
1960 1970 1980 1990 2000
Liquids
0.0
0.5
1.0
1.5
2.0
2.5
3.0
3.5
4.0
1930 1942 1954 1966 1978 1990 2002
Liquids
Middle East Oil Production
7.0
8.0
9.0
10.0
11.0
12.0
13.0
14.0
2004 2005 2006 2007 2008 2009
Mill
ion
barr
els
per
day
Crude Oil (IEA)Crude Oil (EIA)Liquids excluding biofuels (IEA)
2.0
2.2
2.4
2.6
2.8
3.0
3.2
3.4
3.6
3.8
4.0
2004 2005 2006 2007 2008 2009
Crude Oil (IEA)Crude Oil (EIA)Liquids excluding biofuels (IEA)
1.4
1.6
1.8
2.0
2.2
2.4
2.6
2.8
3.0
3.2
3.4
2004 2005 2006 2007 2008 2009
Crude Oil (IEA)Crude Oil (EIA)Liquids excluding biofuels (IEA)
ASPO Netherlands
Page 23
Chart 71: Oman Liquids Production 1965 - 2008
Source: ASPO Ireland & BP Statistical Review of World Energy
Chart 74: Oman Oil Production January 2004 - August 2009
Source: International Energy Agency & Energy Information Administration
Chart 73: Syria Liquids Production 1930 - 2008
Source: ASPO Ireland & BP Statistical Review of World Energy
Chart 76: Syria Oil Production January 2004 - August 2009
Source: International Energy Agency & Energy Information Administration
Chart 72: Yemen Liquids Production 1985 - 2008
Source: ASPO Ireland & BP Statistical Review of World Energy
Chart 75: Yemen Oil Production January 2004 - August 2009
Source: International Energy Agency & Energy Information Administration
0.0
0.2
0.4
0.6
0.8
1.0
1.2
1965 1975 1985 1995 2005
Mill
ion
barr
els
per
day Liquids
0.00
0.05
0.10
0.15
0.20
0.25
0.30
0.35
0.40
0.45
0.50
1985 1990 1995 2000 2005
Liquids
0.0
0.1
0.2
0.3
0.4
0.5
0.6
0.7
1965 1975 1985 1995 2005
Liquids
Middle East Oil Production
0.60
0.65
0.70
0.75
0.80
0.85
0.90
0.95
1.00
2004 2005 2006 2007 2008 2009
Mill
ion
barr
els
per
day Liquids (IEA)
Crude Oil (EIA)
0.25
0.30
0.35
0.40
0.45
0.50
0.55
0.60
2004 2005 2006 2007 2008 2009
Liquids (IEA)
Crude Oil (EIA)
0.30
0.35
0.40
0.45
0.50
0.55
0.60
0.65
0.70
2004 2005 2006 2007 2008 2009
Liquids (IEA)
Crude Oil (EIA)
ASPO Netherlands
Page 24
Chart 77: Denmark Liquids Production 1970 - 2008
Source: ASPO Ireland & BP Statistical Review of World Energy
Chart 80: Denmark oil production January 2004 - June 2009
Source: International Energy Agency & Energy Information Administration
Chart 79: UK Liquids Production 1970 - 2008
Source: ASPO Ireland & BP Statistical Review of World Energy
Chart 82: UK oil production January 2004 - August 2009
Source: International Energy Agency & Energy Information Administration
Chart 78: Norway Liquids Production 1970 - 2008
Source: ASPO Ireland & BP Statistical Review of World Energy
Chart 81: Norway oil production January 2004 - August 2009
Source: International Energy Agency & Energy Information Administration
0.00
0.05
0.10
0.15
0.20
0.25
0.30
0.35
0.40
0.45
1970 1975 1980 1985 1990 1995 2000 2005
Mill
ion
barr
els
per
day Liquids
0.0
0.5
1.0
1.5
2.0
2.5
3.0
3.5
4.0
1970 1975 1980 1985 1990 1995 2000 2005
Liquids
0.0
0.5
1.0
1.5
2.0
2.5
3.0
3.5
1970 1975 1980 1985 1990 1995 2000 2005
Liquids
Europe Oil Production
0.00
0.40
0.80
1.20
1.60
2.00
2.40
2.80
3.20
2004 2005 2006 2007 2008 2009
Liquids (IEA)
Crude Oil (EIA)
0.00
0.10
0.20
0.30
0.40
0.50
0.60
2004 2005 2006 2007 2008 2009
Mill
ion
barr
els
per
day
Liquids excluding biofuels (IEA)
Crude Oil (EIA)
0.000.400.801.201.602.002.402.803.203.604.004.40
2004 2005 2006 2007 2008 2009
Liquids (IEA)
Crude Oil (EIA)
ASPO Netherlands
Page 25
Chart 83: Algeria Liquids Production 1955 - 2008
Source: ASPO Ireland & BP Statistical Review of World Energy
Chart 86: Algeria Oil Production January 2004 - August 2009
Source: International Energy Agency & Energy Information Administration
Chart 85: Libya Liquids Production 1970 - 2008
Source: ASPO Ireland & BP Statistical Review of World Energy
Chart 88: Libya Oil Production January 2004 - August 2009
Source: International Energy Agency & Energy Information Administration
Chart 84: Angola Liquids Production 1960 - 2008
Source: ASPO Ireland & BP Statistical Review of World Energy
Chart 87: Angola Oil Production January 2004 - August 2009
Source: International Energy Agency & Energy Information Administration
0.0
0.5
1.0
1.5
2.0
2.5
1955 1965 1975 1985 1995 2005
Mill
ion
barr
els
per
day Liquids
0.0
0.2
0.4
0.6
0.8
1.0
1.2
1.4
1.6
1.8
2.0
1960 1970 1980 1990 2000
Liquids
0.0
0.5
1.0
1.5
2.0
2.5
3.0
3.5
4.0
1960 1970 1980 1990 2000
Liquids
Africa Oil Production
1.01.21.41.61.82.02.22.42.62.83.03.23.4
2004 2005 2006 2007 2008 2009
Mill
ion
barr
els
per
day
Crude Oil (IEA)Crude Oil (EIA)Liquids excluding biofuels (IEA)
0.81.01.21.41.61.82.02.22.42.62.83.0
2004 2005 2006 2007 2008 2009
Crude Oil (IEA)Crude Oil (EIA)Liquids excluding biofuels (IEA)
1.4
1.6
1.8
2.0
2.2
2.4
2004 2005 2006 2007 2008 2009
Crude Oil (IEA)Crude Oil (EIA)Liquids excluding biofuels (IEA)
ASPO Netherlands
Page 26
Chart 89: Nigeria Liquids Production 1955 - 2008
Source: ASPO Ireland & BP Statistical Review of World Energy
Chart 92: Nigeria Oil Production January 2004 - August 2009
Source: International Energy Agency & Energy Information Administration
Chart 91: Gabon Liquids Production 1955 - 2008
Source: ASPO Ireland & BP Statistical Review of World Energy
Chart 94: Gabon Oil Production January 2004 - August 2009
Source: International Energy Agency & Energy Information Administration
Chart 90: Egypt Liquids Production 1940 - 2008
Source: ASPO Ireland & BP Statistical Review of World Energy
Chart 93: Egypt Oil Production January 2004 - August 2009
Source: International Energy Agency & Energy Information Administration
0.0
0.5
1.0
1.5
2.0
2.5
3.0
1955 1965 1975 1985 1995 2005
Mill
ion
barr
els
per
day Liquids
0.0
0.1
0.2
0.3
0.4
0.5
0.6
0.7
0.8
0.9
1.0
1940 1950 1960 1970 1980 1990 2000
Liquids
0.00
0.05
0.10
0.15
0.20
0.25
0.30
0.35
0.40
1955 1965 1975 1985 1995 2005
Liquids
Africa Oil Production
1.4
1.6
1.8
2.0
2.2
2.4
2.6
2.8
3.0
3.2
3.4
2004 2005 2006 2007 2008 2009
Mill
ion
barr
els
per
day
Crude Oil (IEA)
Crude Oil (EIA)
Liquids excluding biofuels (IEA)
0.50
0.55
0.60
0.65
0.70
0.75
0.80
0.85
0.90
2004 2005 2006 2007 2008 2009
Liquids (IEA)
Crude Oil (EIA)
0.140.160.180.200.220.240.260.280.300.320.340.36
2004 2005 2006 2007 2008 2009
Liquids (IEA)Crude Oil (EIA)
ASPO Netherlands
Page 27
Chart 95: Eq. Guinea Oil Production January 2004 - June 2009
Source: ASPO Ireland & BP Statistical Review of World Energy
Chart 98: Other Africa Oil Production Jan. 2002 - June 2009
Source: International Energy Agency & Energy Information Administration
Chart 97: Vietnam Liquids Production 1985 - 2008
Source: ASPO Ireland & BP Statistical Review of World Energy
Chart 100: Vietnam Oil Production January 2004 - June 2009
Source: International Energy Agency & Energy Information Administration
Chart 96: Sudan Liquids Production January 2002 - June 2009
Source: ASPO Ireland & BP Statistical Review of World Energy
Chart 99: Other Asia liquids Production Jan. 2002 - June 2009
Source: International Energy Agency & Energy Information Administration
0.00
0.05
0.10
0.15
0.20
0.25
0.30
0.35
0.40
0.45
1985 1990 1995 2000 2005
Liquids
Africa Oil Production
0.30
0.32
0.34
0.36
0.38
0.40
0.42
0.44
2004 2005 2006 2007 2008 2009
Mill
ion
barr
els
per
day Crude Oil (EIA)
0.30
0.36
0.42
0.48
0.54
0.60
0.66
2004 2005 2006 2007 2008 2009
Crude Oil (EIA)
0.60
0.70
0.80
0.90
1.00
1.10
1.20
1.30
1.40
2004 2005 2006 2007 2008 2009
Mill
ion
barr
els
per
day Liquids (IEA + EIA)
0.50
0.60
0.70
0.80
0.90
1.00
1.10
1.20
1.30
2004 2005 2006 2007 2008 2009
Liquids (IEA + EIA)
0.20
0.25
0.30
0.35
0.40
0.45
0.50
0.55
0.60
2004 2005 2006 2007 2008 2009
Liquids excluding biofuels (IEA)
Crude Oil (EIA)
ASPO Netherlands
Page 28
Chart 101: China Liquids Production 1950 - 2008
Source: ASPO Ireland & BP Statistical Review of World Energy
Chart 104: China Oil Production January 2004 - August 2009
Source: International Energy Agency & Energy Information Administration
Chart 103: Malaysia Liquids Production 1955 - 2008
Source: ASPO Ireland & BP Statistical Review of World Energy
Chart 106: Malaysia Oil Production January 2004 - August 2009
Source: International Energy Agency & Energy Information Administration
Chart 102: India Liquids Production 1960 - 2008
Source: ASPO Ireland & BP Statistical Review of World Energy
Chart 105: India Oil Production January 2004 - August 2009
Source: International Energy Agency & Energy Information Administration
0.0
0.5
1.0
1.5
2.0
2.5
3.0
3.5
4.0
1950 1960 1970 1980 1990 2000
Mill
ion
barr
els
per
day Liquids
0.0
0.1
0.2
0.3
0.4
0.5
0.6
0.7
0.8
0.9
1970 1980 1990 2000
Liquids
0.0
0.1
0.2
0.3
0.4
0.5
0.6
0.7
0.8
0.9
1960 1970 1980 1990 2000
Liquids
Asia Oil Production
0.50
0.60
0.70
0.80
0.90
1.00
1.10
1.20
2004 2005 2006 2007 2008 2009
Liquids (IEA)
Crude Oil (EIA)
0.55
0.60
0.65
0.70
0.75
0.80
0.85
0.90
0.95
1.00
1.05
2004 2005 2006 2007 2008 2009
Liquids (IEA)
Crude Oil (EIA)
3.20
3.40
3.60
3.80
4.00
4.20
4.40
2004 2005 2006 2007 2008 2009
Mill
ion
barr
els
per
day
Liquids (IEA)
Crude Oil (EIA)
ASPO Netherlands
Page 29
Chart 107: Azerbaijan Liquids Production 1930 - 2008
Source: ASPO Ireland & BP Statistical Review of World Energy
Chart 110: Azerbaijan Oil Production January 2004 - June 2009
Source: International Energy Agency & Energy Information Administration
Chart 109: Russia Liquids Production 1955 - 2008
Source: ASPO Ireland & BP Statistical Review of World Energy
Chart 112: Russia Oil Production January 2004 - August 2009
Source: International Energy Agency & Energy Information Administration
Chart 108: Kazakhstan Liquids Production 1945 - 2008
Source: ASPO Ireland & BP Statistical Review of World Energy
Chart 111: Kazakhstan Oil Production January 2004 - June 2009
Source: International Energy Agency & Energy Information Administration
0.0
0.1
0.2
0.3
0.4
0.5
0.6
0.7
0.8
0.9
1.0
1930 1940 1950 1960 1970 1980 1990 2000
Mill
ion
barr
els
per
day Liquids
0.0
0.2
0.4
0.6
0.8
1.0
1.2
1.4
1.6
1.8
1945 1955 1965 1975 1985 1995 2005
Liquids
0.0
2.0
4.0
6.0
8.0
10.0
12.0
14.0
16.0
1955 1965 1975 1985 1995 2005
Liquids
Former USSR Oil Production
0.00
0.20
0.40
0.60
0.80
1.00
1.20
1.40
1.60
2004 2005 2006 2007 2008 2009
Mill
ion
barr
els
per
day
Liquids excluding biofuels (IEA)
Crude Oil (EIA)
0.80
1.00
1.20
1.40
1.60
1.80
2.00
2004 2005 2006 2007 2008 2009
Liquids excluding biofuels (IEA)
Crude Oil (EIA)
8.00
8.50
9.00
9.50
10.00
10.50
11.00
11.50
2004 2005 2006 2007 2008 2009
Liquids (IEA)
Crude Oil (EIA)
ASPO Netherlands
Page 30
Chart 113: US Liquids Production 1930 - 2008
Source: ASPO Ireland & BP Statistical Review of World Energy
Chart 116: US Oil Production January 2004 - August 2009
Source: International Energy Agency & Energy Information Administration
Chart 115: Mexico Liquids Production 1930 - 2008
Source: ASPO Ireland & BP Statistical Review of World Energy
Chart 118: Mexico Oil Production January 2004 - August 2009
Source: International Energy Agency & Energy Information Administration
Chart 114: Canada Liquids Production 1945 - 2008
Source: ASPO Ireland & BP Statistical Review of World Energy
Chart 117: Canada Oil Production January 2004 - August 2009
Source: International Energy Agency & Energy Information Administration
0.0
2.0
4.0
6.0
8.0
10.0
12.0
14.0
1930 1945 1960 1975 1990 2005
Mill
ion
barr
els
per
day
Liquids
0.0
0.5
1.0
1.5
2.0
2.5
3.0
3.5
1945 1960 1975 1990 2005
Liquids
0.0
0.5
1.0
1.5
2.0
2.5
3.0
3.5
4.0
4.5
1930 1945 1960 1975 1990 2005
Liquids
North America Oil Production
3.0
4.0
5.0
6.0
7.0
8.0
9.0
10.0
11.0
2004 2005 2006 2007 2008 2009
Mill
ion
barr
els
per
day
Liquids (IEA)
Crude Oil (EIA)
2.002.202.402.602.803.003.203.403.603.804.004.20
2004 2005 2006 2007 2008 2009
Liquids (IEA)
Crude Oil (EIA)
2.402.602.803.003.203.403.603.804.004.204.404.60
2004 2005 2006 2007 2008 2009
Liquids (IEA)
Crude Oil (EIA)
ASPO Netherlands
Page 31
Chart 119: Argentina Liquids Production 1930 - 2008
Source: ASPO Ireland & BP Statistical Review of World Energy
Chart 122: Argentina Oil Production January 2004 - August 2009
Source: International Energy Agency & Energy Information Administration
Chart 121: Colombia Liquids Production 1930 - 2008
Source: ASPO Ireland & BP Statistical Review of World Energy
Chart 124: Colombia Oil Production January 2004 - August 2009
Source: International Energy Agency & Energy Information Administration
Chart 120: Brazil Liquids Production 1955 - 2008
Source: ASPO Ireland & BP Statistical Review of World Energy
Chart 123: Brazil Oil Production January 2004 - August 2009
Source: International Energy Agency & Energy Information Administration
0.0
0.1
0.2
0.3
0.4
0.5
0.6
0.7
0.8
0.9
1.0
1930 1942 1954 1966 1978 1990 2002
Mill
ion
barr
els
per
day Liquids
0.0
0.2
0.4
0.6
0.8
1.0
1.2
1.4
1.6
1.8
2.0
1955 1965 1975 1985 1995 2005
Liquids
0.0
0.1
0.2
0.3
0.4
0.5
0.6
0.7
0.8
0.9
1930 1940 1950 1960 1970 1980 1990 2000
Liquids
South America Oil Production
0.50
0.55
0.60
0.65
0.70
0.75
0.80
0.85
0.90
0.95
1.00
2004 2005 2006 2007 2008 2009
Mill
ion
barr
els
per
day
Liquids (IEA)
Crude Oil (EIA)
1.20
1.40
1.60
1.80
2.00
2.20
2.40
2.60
2.80
3.00
2004 2005 2006 2007 2008 2009
Liquids (IEA)Crude Oil (EIA)
0.40
0.45
0.50
0.55
0.60
0.65
0.70
0.75
0.80
2004 2005 2006 2007 2008 2009
Liquids (IEA)
Crude Oil (EIA)
ASPO Netherlands
Page 32
Chart 125: Ecuador Liquids Production 1970 - 2008
Source: ASPO Ireland & BP Statistical Review of World Energy
Chart 127: Ecuador Oil Production January 2004 - August 2009
Source: International Energy Agency & Energy Information Administration
Chart 129 Other S. America oil production Jan. 2004 - Aug. 2009
Source: International Energy Agency & Energy Information Administration
Chart 126: Venezuela Liquids Production 1930 - 2008
Source: ASPO Ireland & BP Statistical Review of World Energy
Chart 128: Venezuela Oil Production January 2004 - Aug. 2009
Source: International Energy Agency & Energy Information Administration
0.0
0.5
1.0
1.5
2.0
2.5
3.0
3.5
4.0
4.5
5.0
1930 1940 1950 1960 1970 1980 1990 2000
Liquids
0.0
0.1
0.2
0.3
0.4
0.5
0.6
1970 1975 1980 1985 1990 1995 2000 2005
Mill
ion
barr
els
per
day Liquids
South America Oil Production
0.440.460.480.500.520.540.560.580.600.620.640.66
2004 2005 2006 2007 2008 2009
Mill
ion
barr
els
per
day
Crude Oil (IEA)Crude Oil (EIA)
1.61.82.02.22.42.62.83.03.23.43.63.84.0
2004 2005 2006 2007 2008 2009
Crude Oil (IEA)Crude Oil (EIA)Liquids excluding biofuels (IEA)
0.30
0.35
0.40
0.45
0.50
0.55
0.60
0.65
0.70
2004 2005 2006 2007 2008 2009
Liquids (IEA + EIA)
ASPO Netherlands
Page 33
Chart 130: Australia Liquids Production 1970 - 2008
Source: ASPO Ireland & BP Statistical Review of World Energy
Chart 132: Australia Oil Production January 2004 - August 2009
Source: International Energy Agency & Energy Information Administration
Chart 131: Indonesia Liquids Production 1930 - 2008
Source: ASPO Ireland & BP Statistical Review of World Energy
Chart 133: Indonesia Oil Production January 2004 - August 2009
Source: International Energy Agency & Energy Information Administration
0.0
0.1
0.2
0.3
0.4
0.5
0.6
0.7
0.8
0.9
1.0
1965 1975 1985 1995 2005
Mill
ion
barr
els
per
day Liquids
0.0
0.5
1.0
1.5
2.0
1930 1945 1960 1975 1990 2005
Liquids
Oceania Oil Production
0.30
0.35
0.40
0.45
0.50
0.55
0.60
0.65
0.70
0.75
0.80
2004 2005 2006 2007 2008 2009
Mill
ion
barr
els
per
day
Liquids (IEA)Crude Oil (EIA)
0.85
0.90
0.95
1.00
1.05
1.10
1.15
1.20
1.25
1.30
2004 2005 2006 2007 2008 2009
Liquids (IEA)Crude Oil (EIA)
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