Section 11. International petroleum

Monthly Energy Review, April, 2006

Crude Oil Production. World crude oil production during January 2006 was 74 million barrels per day, down 0.5 million barrels per day from the level in the previous month.

Organization of the Petroleum Exporting Countries (OPEC) production during January 2006 averaged 31 million barrels per day, down 0.3 million barrels per day from the level in the previous month. During January 2006, production decreased from the previous month in Nigeria by 135 thousand barrels per day; Saudi Arabia by 100 thousand barrels per day; Iraq by 50 thousand barrels per day; and Indonesia by 10 thousand barrels per day. Production remained unchanged in Iran, the United Arab Emirates, Kuwait, Venezuela, Algeria, Libya, and Qatar.

Among the non-OPEC nations, production during January 2006 increased compared with the previous month in China by 150 thousand barrels per day; the United Kingdom by 130 thousand barrels per day; the United States by 72 thousand barrels per day; and Egypt by 7 thousand barrels per day. Production during January 2006 decreased compared with the previous month in Russia by 190 thousand barrels per day; Canada by 51 thousand barrels per day; Norway by 26 thousand barrels per day; and Mexico by 16 thousand barrels per day.

Petroleum Consumption. In December 2005, consumption in all Organization for Economic Cooperation and Development (OECD) countries was 52 million barrels per day, less than 1 percent (1) higher than the December 2004 rate. Comparing December rates in 2005 and 2004, consumption was higher in 2005 in Japan and the United Kingdom (each 6 percent); South Korea ( 2 percent); and the United States ( 1 percent). The December 2005 consumption rate was lower in Germany (-11 percent); Canada (-10 percent); France (-2 percent); and Italy (-1 percent), compared with the rate 1 year earlier.

Petroleum Stocks. For all OECD countries, petroleum stocks at the end of December 2005 totaled 4.1 billion barrels, 2 percent higher than the ending stock level in December 2004. Stock levels were higher in December 2005 in Germany ( 6 percent); France ( 5 percent); and the United States ( 3 percent). Stock levels were lower in South Korea (-10 percent); the United Kingdom (-8 percent); Japan (-4 percent); Italy (-3 percent); and Canada (less than-1 percent), compared with levels 1 year earlier.

International Petroleum

Tables 11.1a and 11.1b Sources

United States: See Table 3.1a.

All Other Countries: Monthly Data

2003 forward: Energy Information Administration (EIA), International Petroleum Monthly, and Office of Energy Markets and End Use (EMEU), International Energy Database, March 2006.

All Other Countries: Annual Data

1973-1979: EIA, International Energy Annual 1981, Table 8.

1980-2003: EIA, EMEU, International Energy Database, June 2005.

2004 and 2005: Average of monthly data.

World: Monthly Data

2003 forward: EIA, International Petroleum Monthly, sum of all countries' monthly data.

World: Annual Data

1973-1979: EIA, International Energy Annual 1981, Table 8.

1980-2003: EIA, EMEU, International Energy Database, June 2005.

2004 and 2005: Average of monthly data.