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It seems different sites have slightly different data. Here is another data: 2000-2006 both production and consumption.

I note that during this period both the demand and consumption rose by ~10%. Gas prices at the pump doubled during this period.

I don't have data but my guess is that currently high guess prices are a combination of political factors, war in iraq, refinery outages and ageing and hedge funds. The demand from China and India is often blamed for the steep rise although they consume only a fraction of global oil are still way way down below the US consumption. It is hard to put a finger on the single largest contributor but my guess is hedge funds. Deej provided some data mentioning that ~1% trading is in oil futures. I don't understand that completely but I can certainly appreciate one thing: if a 0.8% mismatch increase in production and consumption can lead to doubling of the prices, 1% trading in futures can affect the price significantly. Again, I express complete ignorance at the details of the dynamics. I am looking only at the data envelopes.
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