Sunday, March 02, 2008 CE
World Total Liquid Fuel Production -January 2008: 87.18 millions of barrels per day (mbpd)1.
The production is again the highest prodution recorded so far. However, the production of crude and condensate achieved its peak in May 2005. This means that the production of natural gas plant liquids (NGPL), ethanol, biomass to liquids (BTL), coal to liquids (CTL), gas to liquids (GTL) and processing gains is still increasing. According to certain estimates, the peak fossil fuel production will be reached in 2018, taking into account also coal and natural gas 2. In the meantime, the supply and demand mismatch will create oil price increases and a slowing of the world economies as an average.