World Oil Production Statistics

http://www.eia.doe.gov/emeu/ipsr/t14.xls

Today we discussed the WSJ article and current oil production levels. Here is a source, the Energy Information Administration, and their stats on world oil production. You may note that the world seemed to peak in May 2005, but it appears that if estimates are correct we actually surpassed that near the end of 2007.

These are estimates now, as BP has not yet relesaed the 2007 Energy Review.
http://www.bp.com/liveassets/bp_internet/globalbp/globalbp_uk_english/reports_and_publications/statistical_energy_review_2007/STAGING/local_assets/downloads/spreadsheets/statistical_review_full_report_workbook_2007.xls

We should remeber that as prices climb, producers will be incentivized to produce more. With the climbing prices of oil, we may only see a drop in production only once they can no longer maintain current levels.