Global Oil Supply And Demand In 8 Charts

Credit Suisse just released its Flowing Oil Chartbook, a visual depiction on the latest dynamics of the global oil industry. The basic economic principles of supply and demand can be found at the heart of the collapse in oil prices.

In the report, analyst Jan Stuart paints a picture of where the industry stands at this point. Here are eight images that lend some perspective on the situation.

Global oil demand growth has been on the rise since 2009.

During that same time, seasonally-adjusted U.S. oil demand growth has been mostly stable.

Despite the overall stability in U.S. oil demand growth, several major shifts have taken place in U.S. oil demand growth by product in recent years. Between 2011 and 2012, oil demand growth for every major product was negative.

In 2013, liquid petroleum gas (LPG) demand growth was largest. Diesel saw the largest 2014 increase in demand growth. Finally, it appears as if gasoline will demonstrate the largest U.S. demand growth in 2015.

When it comes to OECD European countries, seasonally-adjusted oil demand growth has been steadily declining since 2008 but may finally be showing signs of stabilization.

Demand growth in China, on the other hand, has been on the rise in recent years, climbing steadily since 2010.

After steadily climbing since mid-2009, global oil production (excluding Saudi Arabia) appears to have reached at least a temporary peak.

Despite plunging rig counts, U.S. oil production has continued to rise in the face of the collapse in oil prices.

While U.S. producers have massively reduced rig counts, Middle East producers are mostly staying the course, maintaining rig counts and production levels near all-time highs.