In this post I present developments in world crude oil (including condensates) supplies since January 2007 and up until June 2016. I then take a closer look at petroleum demand (consumption and stock changes) developments in the Organization for Economic Cooperation and Development (OECD) for the same period and what this implies about demand developments in non OECD. The data used for this analysis comes from the Energy Information Administration’s (EIA) Monthly Energy Review . • The OECD has about half of total global petroleum consumption. • Since December 2015, OECD total annualized petroleum consumption has grown about 0.2 Mb/d [0.5 percent]. [Primarily led by growth in U.S. gasoline and kerosene consumption, ref also figure 6.] • The OECD petroleum stock building was about 0.4 Mb/d during Jan-16 – Jun-16, which is a decline of about 0.6 Mb/d from the same period in 2015. This implies a […]