The Long and Short of Oil Supply

4 Dec 2015: Global crude oil production has increased over the last year, even though prices have declined significantly over the last 18 months. According to the International Energy Agency (IEA), crude oil production (incl. NGL and Biofuel) increased from 93.6 Million barrels per day (Mb/d) in 2014 to an estimated 96.1 Mb/d in 2015, an increase of 2.5 Mb/d. Over the same period, global oil demand increased from 92.8 Mb/d to 94.6 Mb/d, an increase of only 1.8 Mb/d. Download here