Recession = declining oil demand

[bham]

but what about global oil consumption since August? I did not find much concrete on the net (with figures as I like them)
has consumption actually dropped? and how much?
I ask to see.

"For the first time since 1983", world demand is expected to contract in 2008, dropping 0,2 million barrels per day (mbd) to fall to 85,8 mbd, writes the IEA, which again sharply cut in his forecasts in his monthly report on Thursday ...

http://www.boursorama.com/infos/actuali ... ws=6178927

[C moa]

As I said a while ago, the crude market is no longer tied to supply and demand. What the IEA notes is a slowing down in DEMAND not in CONSUMPTION. She also noted an increase in stocks but it is above all that we returned to a normal situation because we had pumped heavily into stocks to cushion the increases (we went from about 35 days to 51 days if I remember correctly ).

To put it simply, in 2008 we will have consumed at least as much as in 2007. A decrease in DEMAND of less than 1% leads to a low of 100 USD .

Otherwise, you may have seen that the crude rose slightly and immediately you see an increase in the ... dollar.

[Flytox]

* luyflyfh

[dirk pitt]

in Million barrels per day.

[moinsdewatt]

in Million barrels per day.

Really 90 million b / d?
Ya like a bug.

And the legend? World production or world consumption?

[dirk pitt]

well no, there are no bugs. (well, normally, it's my personal data from different sources)
this damn world consumes (or produces because it's almost the same as stock variations) 90.000.000 barrels per day or about 14 billion liters per day
and to fix the ideas even better, we must recall the order of magnitude of the Billion because by dint of using this term or hearing it from left to right, we no longer realize that 1 Billion, c is really huge.
so, if I wanted to count up to 1 Billion at the rate of 2 figures on the second day and night, it would take me almost 16 years to count up to 1 Billion ...
I'll let you think about it.

[sen-no-sen]

World oil production (in thousands of barrels per day, left scale) since 1965. Production seems to "restart" in 2010, but in fact most of the increment is made up of "gas liquids", light molecules extracted with gas but counted with oil. Oil stricto-sensu (what comes out of the earth or from a Canadian bitumen processing unit in the form of oil) has not grown since 2005.

Source: BP Statistical Review, 2013

http://www.manicore.com/documentation/petrole/pic_passe_petrole.html

Even if the production seems to grow, the peak is in fact behind us but artificially smoothed by the addition of unconventional gases and oils.

[moinsdewatt]

Dirk Pitt, I only pointing out the inconsistency of your supposed scale in millions of b / d.

Because 90 million b / d does not do that.

it's in kilobaril per day.

So 90 kilo barrels / d, that makes 000 million b / d well known.

And yes, I nitpick ......

The sen-no-sen table is correct for him.

[dirk pitt]

yes, in time for me, it's kb, and we agree: 90Mb / d

[Macro]

http://www.cpdp.org/livraisons-stocks

The French consumption in February 2013 fell by 11.5% compared to that of February 2012 ...
for 2014 ... You will have the figures in a year ...