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Quarterly Oil Production from Majors Dropping

According to quarterly reports, average daily production of crude oil and natural gas liquids from eight major oil firms dropped by some 304,000 barrels per day (-2.8%) during the first quarter of 2005 as compared to the prior year.

Combined liquids production for these firms dropped to 10.475 million barrels per day (mbpd) in 1Q 2005 from 10.779 mbpd in 1Q 2004.

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Posted on Saturday, April 30 @ 20:59:23 PDT by Carrie

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Re: Quarterly Oil Production from Majors Dropping (Score: 1)
by UIUCstudent01 on Sunday, May 01 @ 04:01:37 PDT
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Erg? Does this mean we're at Peak Oil already? (Or at least the plateau?)

I need more time!

Re: Quarterly Oil Production from Majors Dropping (Score: 1)
by bobcousins on Sunday, May 01 @ 16:10:03 PDT
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Uh oh, my Peak alarm just went off. Falling supply while price has been rising steadily is a definite warning signal in my book. Let's see what the next quarter does. I had a thought 2005 would be an interesting year!

Re: Quarterly Oil Production from Majors Dropping (Score: 1)
by fafnir4 on Thursday, June 01 @ 14:21:45 PDT
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