Oil status quo disturbing$ 147.27
Since 2007, oil prices began to accelerate to climb. Surging crude oil futures prices at the beginning of this year exceeded $ 100, and July 11 is a record intraday high of $ 147.27 a barrel. Although more than a month cumulative fall in oil prices by about 20%, but still hovering about the high price of $ 110.
In the first half of this year, world crude oil prices of a wave after wave, has exceeded $ 100 a barrel, $ 120, $ 130, $ 140, compared to 2002 rose more than 5 times. Even allowing for inflation, international oil prices have also been more than the oil crisis of the seventies and eighties of the last century, when more than 40% of the price level.
The world's proven oil reserves in 2007 were flat with 2006, approximately 12,400 barrels, now global production by volume, to meet mining for over 41 years. Indonesia oil from the 1990s of about 1.5 million barrels per day, now down to 86 million barrels a day, declining oil reserves is likely to have been mined in 10 years.
90 million barrels
BP in mid-June 2008, the World Energy Statistics 2007, global oil consumption compared to 2006 increased by 90 million barrels / day (45 million tons), representing a growth rate of 1.1%. Oil consumption data including onshore demand plus international aviation, shipping and refining process, the consumption of petroleum products. Fuel ethanol and biodiesel consumption is also included.
12.6 million barrels
BP in mid-June 2008, the World Energy Statistics 2007, global oil production per day decreased by 12.6 million barrels per day, representing a fall of 0.2%, to 8150 million barrels per day. 2007 share increased supply from Africa, Asia and the former Soviet Union, Middle East, North America, Latin America, and Europe's share has declined.
100 million barrels
Monthly Oil Market Report "announced by OPEC" lowered its 2008 global oil demand growth forecast expected global oil demand this year, the daily average of 8690 million barrels, an increase of 1.17%, compared with last year's daily average of 100 million barrels growth. This data than forecast last month, a decrease of 3 million barrels.
8070 million barrels
Landslide economic situation led to the decline in oil demand growth. OPEC's forecast for 2009 world oil demand daily average of 8780 million barrels, 89 million barrels a day than this year's average daily growth. The estimated 2008 non-OPEC average daily supply of 5000 million barrels daily average of 5095 million barrels in 2009 than this year's average daily increase of 95 million barrels.
Source Rubber booth