Energy Briefing: World Crude Oil Outlays & Revenues y 31, 217 Dr. Edward Yardeni 516-972-7683 eyardeni@ Debbie Johnson 48-664-1333 djohnson@ Mali Quintana 48-664-1333 aquintana@ Please visit our sites at www. blog. thinking outside the box
Table Of Contents Table Of Contents Crude Oil Outlays & Revenues 1-4 Crude Oil Outlays 5-6 y 31, 217 / Energy Briefing: World Crude Oil Outlays & Revenues www.
45 425 4 375 35 325 3 275 25 225 2 175 15 125 1 75 5 25 Figure 1. WORLD CRUDE OIL REVENUES & OUTLAYS* (billion dollars, annual rate) Crude Oil Outlays & Revenues Crude Oil Revenues & Outlays* (1596.5) 87 88 89 9 91 92 93 94 95 96 97 98 99 1 2 3 4 5 6 7 8 9 1 11 12 13 14 15 16 17 45 425 4 375 35 325 3 275 25 225 2 175 15 125 1 75 5 25 * Actual monthly crude oil demand (in mbd) times 365 days times dollar price of a barrel of Brent crude oil. 2 Figure 2. OPEC CRUDE OIL REVENUES* 2 15 Crude Oil Revenues* (685.9) 15 1 1 5 5 87 88 89 9 91 92 93 94 95 96 97 98 99 1 2 3 4 5 6 7 8 9 1 11 12 13 14 15 16 17 * Actual monthly crude oil production (in mbd) times 365 days times dollar price of a barrel of Brent crude oil. Page 1 / y 31, 217 / Energy Briefing: World Crude Oil Outlays & Revenues www.
5 Figure 3. Crude Oil Outlays & Revenues SAUDIA ARABIA CRUDE OIL REVENUES* 5 4 4 3 3 2 2 1 1 87 88 89 9 91 92 93 94 95 96 97 98 99 1 2 3 4 5 6 7 8 9 1 11 12 13 14 15 16 17 * Actual monthly crude oil production (in mbd) times 365 days times dollar price of a barrel of Brent crude oil. 3 Figure 4. NON-OPEC CRUDE OIL REVENUES* 3 2 2 1 1 93 94 95 96 97 98 99 1 2 3 4 5 6 7 8 9 1 11 12 13 14 15 16 17 * Actual monthly crude oil production (in mbd) times 365 days times dollar price of a barrel of Brent crude oil. Page 2 / y 31, 217 / Energy Briefing: World Crude Oil Outlays & Revenues www.
125 975 925 875 825 775 725 675 625 575 525 475 425 375 325 275 225 175 125 75 25 Figure 5. US CRUDE OIL REVENUES & OUTLAYS* Crude Oil Outlays & Revenues United States Crude Oil Outlays* (331.3) Petroleum Refineries Shipments (saar) (445.1) 87 88 89 9 91 92 93 94 95 96 97 98 99 1 2 3 4 5 6 7 8 9 1 11 12 13 14 15 16 17 18 19 2 May 125 975 925 875 825 775 725 675 625 575 525 475 425 375 325 275 225 175 125 75 25 * Actual monthly crude oil demand (in mbd) multiplied by 365 days and the price of a barrel of West Texas Intermediate crude oil. 8 75 7 65 6 55 5 45 4 35 3 25 2 15 1 5 Figure 6. Western Europe US Dollars (246.3) Euros (222.8) 87 88 89 9 91 92 93 94 95 96 97 98 99 1 2 3 4 5 6 7 8 9 1 11 12 13 14 15 16 17 8 75 7 65 6 55 5 45 4 35 3 25 2 15 1 5 * Actual monthly crude oil demand (in mbd) multiplied by 365 days and the price of a barrel of Brent crude oil. Page 3 / y 31, 217 / Energy Briefing: World Crude Oil Outlays & Revenues www.
14 12 Figure 7. Crude Oil Outlays & Revenues 14 12 1 1 8 6 Asia (515.) Latin America (111.4) 8 6 4 4 2 2 87 88 89 9 91 92 93 94 95 96 97 98 99 1 2 3 4 5 6 7 8 9 1 11 12 13 14 15 16 17 * Actual monthly crude oil demand (in mbd) multiplied by 365 days and the dollar price of a barrel of Brent crude oil. 45 425 4 375 35 325 3 275 25 225 2 175 15 125 1 75 5 25 Figure 8. WORLD CRUDE OIL REVENUES & OUTLAYS* S&P 5 Forward Earnings: Energy** (17.3) Total World Crude Oil Revenues (billion dollars) (1636.1) 87 88 89 9 91 92 93 94 95 96 97 98 99 1 2 3 4 5 6 7 8 9 1 11 12 13 14 15 16 17 18 19 2 7/2 7 65 6 55 5 45 4 35 3 25 2 15 1 5 * Actual monthly total world crude oil demand (in mbd) multiplied by 365 days and by the price of Brent crude oil. ** 12-month forward consensus expected operating earnings per share. Time-weighted average of current and next year s consensus earnings estimates. Source: Energy Intelligence Group "Oil Market Intelligence" and Thomson Financial. Page 4 / y 31, 217 / Energy Briefing: World Crude Oil Outlays & Revenues www.
25 Figure 9. Crude Oil Outlays 25 2 15 OECD-34 (86.6) Non-OECD**(848.5) 2 15 1 1 5 5 93 94 95 96 97 98 99 1 2 3 4 5 6 7 8 9 1 11 12 13 14 15 16 17 * Actual monthly crude oil demand (in mbd) multiplied by 365 days and the dollar price of a barrel of Brent crude oil. ** Total excluding OECD-34 Source: Oil Market Intelligence. 3 Figure 1. 3 2 New World: Total World Minus US, Western Europe, & Japan Old World: US, Western Europe, & Japan 2 1 1 87 88 89 9 91 92 93 94 95 96 97 98 99 1 2 3 4 5 6 7 8 9 1 11 12 13 14 15 16 17 * Actual monthly crude oil demand (in mbd) multiplied by 365 days and the dollar price of a barrel of Brent crude oil. Source: Oil Market Intelligence. Page 5 / y 31, 217 / Energy Briefing: World Crude Oil Outlays & Revenues www.
5 Figure 11. Crude Oil Outlays 5 4 4 3 China (187.8) 3 2 2 1 1 87 88 89 9 91 92 93 94 95 96 97 98 99 1 2 3 4 5 6 7 8 9 1 11 12 13 14 15 16 17 * Actual monthly crude oil demand (in mbd) multiplied by 365 days and the dollar price of a barrel of Brent crude oil. Page 6 / y 31, 217 / Energy Briefing: World Crude Oil Outlays & Revenues www.
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