Would you like to start a free subscription?
Remember me | Forgot password
For full content view: Log in Now!
Continued high prices throughout 2006 financially strengthened producers, but flattened global demand. According to the US Department of Energy's Energy Information Agency, world oil supply growth through the third quarter was off slightly at -0.2%, while demand also moderated with minimal growth of +0.2%. World Oil's production tally shows production growth with a slight 0.3% expansion.
The price signal that took hold in 2005 restrained demand in 2006. Oil prices for WTI continue at historically high levels. They began the year above $63/bbl and spiked to over $75/bbl during August. Since that time prices have fallen, but they remained above $57/bbl through the end of 2006.
Oil in storage continues at historically high levels as well, so there is no lack of hydrocarbons to meet any increased demand. High storage levels must be worked off before prices will firm again.
This area of the site is restricted.
In order to gain access, please either Log
In, or subscribe to World Oil.
Two options are available to you for creating an account.
1. Get a Free Trial Subscription to World Oil Magazine and gain immediate access to select content on World Oil Online.
Start a Free Trial Subscription and gain immediate access to the complete current issue of World Oil Magazine. Plus, you’ll receive 3 upcoming issues of World Oil Magazine in print or digital format.* You also receive access to the Energy Events Calendar, Industry Statistics and WO Wire’s news and industry coverage.
2. Purchase a subscription to World Oil magazine and gain immediate
and complete access to World Oil Online. As a Total Access subscriber
you will have access to all areas of the site available to registered users and
free subscribers as well as having access to such premium content areas as:
Physical copies of this content may be available for purchase. Visit the Reprints & Back Issues section.
If you are already a paid subscriber and do not have access, please email CustomerService@worldoil.com.
World Oil's specialized upstream Engineering Data Tables featuring the Drill Bit Classifier, Tubing Tables and more. Get Total Access today.
Wichita Falls, TX - April 22-23
Bucharest - April 28-30
Houston, TX - May 5-8
All material subject to strictly enforced copyright laws.
© 2014 World Oil. © 2014 Gulf Publishing Company.