World Oil Supply 2004 – 2007

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Global oil production peaked in the spring of 2006 at about 85 million barrels per day of all-liquids and 74 mbpd of crude-and-condensate only. For about 18 months the all-liquids figure has been declining at 0.1% per annum. The crude-and-condensate total has been declining at 0.5% per annum.

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