Oil Chart: Production and Consumption moving avg

Started by pkamm, 06/08/2008 02:42PM
Posted 06/08/2008 02:42PM Opening Post
Generated this chart from tables at eia.gov, sorry no years showing but the last April is 2008 so count backwards from there... blue line is 12-month moving average for global production, red line is 12-month moving average for global consumption. Draw your own theories/conclusions & discuss!



Attached Image:

pkamm's attachment for post 42419
Posted 06/09/2008 03:04AM | Edited 06/09/2008 03:04AM #1
From an article on today's CNN website:
http://money.cnn.com/news/newsfeeds/articles/djf500/200806081347DOWJONESDJONLINE000284_FORTUNE5.htm?cnn=yes
"...sharp rise in oil prices can't be explained by fundamentals."
Pretty much says it all...
Posted 06/10/2008 10:34PM #2
1) Supposedly U.S. consumer demand has been declining. So, perhaps, you are really showing us the increased consumption in China and India? 8O
2) It looks like production is pacing demand. So, why the high prices? :S

[SIZE="Small"]------------
I have several telescopes, but none are semi-APO, APO, or in anyway valuable.
[/SIZE]