The International Energy Agency (IEA) said preliminary data showed oil demand hit a record high of 87.7 million barrels per day over the past 12 months.
Related Wall Street Journal story:
The Organization of Petroleum Exporting Countries Monday said demand for its oil in 2011 will be stronger than it previously forecast owing to the recovery in the global economy.
BOE Comment: The deep water sector is the only option for significant near and intermediate-term increases in US oil production. Ditto for many other non-OPEC producers. We better get our act together soon.
Bud's Offshore Energy (BOE) 
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