A post by Ovi @ peakoilbarrel.
Below are a number of oil production charts for Non-OPEC countries, created from data provided by the EIA’s International Energy Statistics and updated to August 2019. Information from other sources such as the IEA and OPEC is used to provide a short term outlook for future output and direction.
Non-OPEC production increased by 752 kb/d to 50,482 kb/d in August from 49,730 kb/d in July. This is the first significant monthly increase in 2019. Output declined from January to May. The main contributor to the increase was the US by adding 599 kb/d. This leaves August production just 295 kb/d short of the previous high of 50,777 kb/d reached in December 2018. New output from Norway and Brazil, along with increasing US output coming in the next few months could raise Non-OPEC output beyond the previous December 2018 high. The question “How much higher beyond the December high” is of great interest to OPEC+.
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