No, the first Quater Demand for 2008 is 87 m b p/d while the first quater 2008 supply is about 86 and DOESN’T come close to reaching 87 m b p/d.
So Demand(87) is higher than supply (86).
Just to be sure we are looking at the same chart: What is 1Q2008 supply on this chart?
yitbos