Global liquid fuels production remains below 2008 peak
December 16th, 2009The December Oilwatch Monthly is now available from Peakoil Nederland.
Global liquid fuels production remains below the peak reached in 2008. Average global liquid fuels production in 2009 up to November was 84.86 versus 86.6 million b/d in 2008.
The graph below shows that an ever-increasing proportion of global liquid fuel supplies is coming from unconventional sources. Approximately 85% of world liquid fuels production in 2008 came from conventional crude oil including lease condensates. The remaining share of 15% was produced by unconventional sources – biofuels, extra heavy oil, tar sands, polar oil and natural gas liquids. In absolute amounts unconventional production has increased steadily, from 4 million b/d at the end of the 1970s to approximately 12.9 mb/d in 2008, excluding lease condensates.
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