Friday, September 27, 2013
Administrative Note: Apologies for the lack of blogging around here. I've been teaching a new course at Cornell, amongst other things, and have been incredibly busy.
Anyway, here is the latest global oil supply data. After a period of flatness in 2012 and early 2013, there has been a modest uptick in supply in the summer of 2013 - to the tune of about 1mbd extra in July, though with some fallback in August. The graph above shows the major data series for total liquid fuel, along with Brent oil price on the right scale.
This graph also shows the level of crude & condensate. We won't know for sure whether the July peak will also show up in the C&C level, but I would expect that it would.
Finally, a close-up of total oil supply, just for the period since the great recession: