Wednesday, June 27, 2007 CE
Oil Production: May 2007: 84.94 millions of barrels per day.
There is a dip in the production of oil. The IEA report states that Nigerian decrease in supply is partially to blame. What is more alarming is that, in the third and fourth quarters of this year, demand is going to surpass supply without any major political event going on (as it happened in 1973 and 1979). July of 2006 continues to be the month with most oil production recorded.