February 2020 – Peak Oil Barrel

USA December Oil Production Drops

02/28/202002/28/2020 Ovi 175 Comments

A Post by Ovi at peakoilbarrel

All of the oil production data for the US states comes from the EIAʼs Petroleum Supply Monthly. At the end, an analysis of a three different EIA reports is provided.

The charts below are updated to December 2019 for the 10 largest US oil producing states (Production > 100 kb/d).

The data from the February EIA report shows that US production dropped from November by 84 kb/d (0.61 kb/d) to 12,779 kb/d in December. Since June, the US has increased output by an average of 164 kb/d/mth. Is this drop the beginnings of slowing LTO growth going into 2020? Today’s low oil prices are not providing any incentive to increase drilling activity. Maintaining current production and lowering expenses may be the new mantra.

For the lower 48 states, production decreased by 81 kb/d.

Open Thread Non-Petroleum.

02/28/202002/28/2020 Ovi 222 Comments

Comments not related to oil or natural gas production in this thread, please. Thank you.

Non-OPEC Output Reaches New High

02/22/202002/22/2020 Ovi 172 Comments

Below are a number of oil (C + C ) production charts for Non-OPEC countries created from data provided by the EIA’s International Energy Statistics and updated to October 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 382 kb/d to 50,930 kb/d in October from 50,512 kb/d in September. This is second highest monthly increase for 2019 after the August increase of 699 kb/d.

October’s production exceeded the previous high of 50,919 kb/d reached in December 2018 by 11 kb/d. Gains from Norway, U.S, and Canada overcame declines from other countries to post the new October record.

Contrast what has happened with output in 2019 with 2018. From December 2017 to December 2018, production increased from 47,768 kb/d to 50,919 kb/d, an increase of 3,151 kb/d. Of this, the three largest contributors were U.S., Russia, and Canada. From December 2018 to October 2019, production so far has increased by 11 kb/d. How much will the next two months add?

Open Thread Non-Petroleum.

02/22/202002/22/2020 Ovi 229 Comments

Comments not related to oil or natural gas production in this thread, please. Thank you.

OPEC January Production Data

02/13/202002/13/2020 Ron Patterson 285 Comments

All OPEC data below is from the February edition of the OPEC Monthly Oil Market Report. The data thousand barrels per day and is through January 2020. OPEC Monthly Oil Marker Report

OPEC 14 crude oil production was down 509,000 barrels per day in January. And that was after December production was revised down 86,000 barrels per day.

OPEC announced a couple of months ago that Ecuador was leaving the cartel. However they were still included in January’s data. I have no idea what’s going on.