Industry at a glance

July global oil supply rose by 500,000 bpd to 84.81 million bpd. OPEC crude oil production increased again in July by 21,000 bpd to 34.01 million bpd.

	Vol. 230 No. 9

July global oil supply rose by 500,000 bpd to 84.81 million bpd. OPEC crude oil production increased again in July by 21,000 bpd to 34.01 million bpd.

The IEA continued its upward revisions to its demand forecasts for 2009 and 2010, revising up by 190,000 bpd in 2009 to 83.94 million bpd and by 70,000 bpd in 2010 to 85.25 mil-lion bpd. According to the EIA, preliminary data indicate that global oil consumption declined by 3.1 million bpd in the first half of 2009 compared with year-earlier levels. OECD countries accounted for 2.8 million bpd of the overall decline, while non-OECD consumption recorded a decline of only 300,000 bpd. The EIA expects world oil consumption to grow year-over-year in the fourth quarter of 2009, the first such growth in five quarters. Overall, global oil consumption is projected to decline by 1.7 million bpd in 2009, then rise by 940,000 bpd in 2010.

Monthly US Gas Prices & Trends Graph		World Oil Production Table
US Geophysical Activity Table		Selected World Oil Prices Graph
US Rotary Drilling Rigs Graph		International Geophysical Activity Table
US Rotary Drilling Rigs Table		International Rotary Rig Graph
Workover Rig Graph		International Rotary Rig Table
Workover Rig Table		International Offshore Rigs Table