According to the EIA, we are near record production for crude oil + NGL and all liquids.
|Figure 2. World production (EIA). Click to Enlarge.|
|Figure 3. Supply growth per category (100= Jan 2001).|
According to JODI (last data point if for December 2011), Russia, the US and Saudi Arabia, Brazil and Kuwait are producing at decadal record rates.
|Figure 2. World production for crude oil only. The black dotted line is the EIA estimate. The color is function of production shortfall from the last 10 years peak production.|
|Figure 3. EIA-JODI divergence|