Sunday, January 13, 2008 CE
World Total Liquids Production -November 2007: 86.55 millions of barrels per day (mbpd).
This is again the largest production recorded. However, the figure is very close to the ones on October 2007 and July 2006 so technically the global production is still at a plateau. The supply/demand relationship is still worrisome for 2008, which leads me to think that the barrel price will be more expensive than the average for 2007. If the world economy goes into a recession in 2008, the demand side of the equation would ease up the tendencies of price-climbing.