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Peak Oil - World Oil Production Consumption
Oil Production - Global - since 1965 and forecast to 2015
Saudi Arabia Peak Oil and Decline In Oil Exports Forecast by EnergyInsights.net
Special analysis oil production and consumption - from in-house analytical modelling
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Oil production globally has been growing over the last 50 years, apart from a drop in the early 70s and again in the early 80s after oil prices spiked upwards causing recessions. This indicates the historical sensitivity of oil consumption to oil price. OPEC production is seen as the swing producer - these producers capture spare demand and decrease production if oversupply drives prices down. The end 2008 recession is also leading to reduced supply from OPEC as they cut production to support prices that dropped to $34/bbl mid December 2008. |
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Global Oil Production in Different Categories of Country - 1965 to present
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| Most region's oil production has increased over the years, particularly Europe (North Sea and Russia) and Asia Pacific. North Amercia production has been more constant. Middle East (mainly OPEC production) has fluctuated - acting as a "swing prducer" - generally increasing during periods of high oil price and decreasing during period of low oil price. |
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Global Oil Production - 1965-2007 and predicted to 2015
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Crude Oil Price: OPEC and Middle East production dropped from 1980 until 1985 as OPEC attemped to support oil prices - however, in 1986, Saudi Arabia flooded the market and drove prices down to below $8/bbl for a few week in an attempt to curtain non OPEC developments and production. It was some 3-4 years before prices started to recover, but in US real terms, prices are still well below the levels seen in 1980 and at approximately the late 1970s level. In addition, GDP and industry is far less reliant on oil - oil constitutes far proportionally within the overall GDP of the USA - the US GDP has also grown significantly since the early 1980s - mianly service sector growth. |
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Oil Price - since 1967 to end 2007
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| Gross oil sales per region - this is the summation of the oil produced times the price of the crude in the given year. |
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| Increases and decreases in oil production in 2006 (from June 2007 data) |
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| Oil Production in Africa - from 1995 and forecast to 2015 |
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| Oil Production in Middle East - from 1995 and forecast to 2015 |
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| Oil Production in Europe & Euroasia - from 1995 and forecast to 2015 |
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| Oil Production in South America - from 1995 and forecast to 2015 |
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| Oil Production in North America - from 1995 and forecast to 2015 |
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| Oil Production in Asia Pacific - from 1995 and forecast to 2015 |
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| Oil Production - World Global- from 1995 and forecast to 2015 |
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| Oil Production - World Global- from 1965 and forecast to 2015 |
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| Oil Production Middle East- from 1965 and forecast to 2015 |
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| Oil Production Europe and EuroAsia - from 1965 and forecast to 2015 |
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| Oil Production South America- from 1965 and forecast to 2015 |
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| Oil Production Venezuela - from 1965 and forecast to 2015 - note steep decline since 1997 shows no signs of slowing despite higher oil prices |
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| Oil Production North America - from 1965 and forecast to 2015 - as a continent, oil has actually increased from 10 million bbls/day in 1965 to 14 million bbls/day today - and is forecast to remain on a plateau until 2015 - mainly from increases in canada offsetting decreases in Mexico and USA. |
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| Oil Production in Asia Pacific - from 1965 and forecast to 2015 |
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| Oil Production Africa - from 1965 and forecast to 2015 |
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| Oil Production Saudi Arabia - from 1965 and forecast to 2015 |
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| Oil Production Iraq - from 1965 and forecast to 2015 |
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| Oil Production Venezuela - from 1965 and forecast to 2015 |
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| Oil Production Norway - from 1965 and forecast to 2015 |
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| Oil Production Brazil - from 1965 and forecast to 2015 (assumes $80/bbl from end 2009) |
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| Oil Production Russia - from 1985 and forecast to 2015 |
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| Oil Production China - from 1965 and forecast to 2015 |
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| Oil Production USA - from 1965 and forecast to 2015 |
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| Oil Production Canada - from 1965 and forecast to 2015 |
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| Oil Production Mexico - from 1965 and forecast to 2015 |
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| Oil Production Angola - from 1965 and forecast to 2015 |
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| American Crude Marker ACM Platts |
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