OPEC Monthly Oil Market Report for December 2020 was published this week. The last month reported in each of the charts that follow is December 2020 and output reported for OPEC nations is crude oil output in thousands of barrels per day (kb/d).
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The future of tight oil output in the US will depend in large part on future development of Permian Basin resources in Texas and New Mexico. I have developed nine scenarios for future Permian basin tight oil output based on 3 levels of technically recoverable resources (TRR) and 3 different future oil price scenarios. These are summarized in the chart below.
Comments not related to oil and/or natural gas production in this thread please. Thanks.
Comments not related to oil or natural gas production in this thread please.