Author: Ovi

Non-OPEC W/O U.S. On Production Plateau

Ovi 206 Comments

A post by Ovi at peakoilbarrel.

This post updates Non-OPEC production to February 2020. However we are now in late June 2020 and the effects of the plunge in the price of WTI which began on January 6 and ended in the negative low of $-37.63/bbl on April 20 is showing up in plunging production numbers in US and other oil producing countries that post more recent output numbers. However WTI has now recovered to close to $40/b and weekly US production numbers are indicating that output may have bottomed.

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US Oil Output Continues its Steady Decline

Ovi 147 Comments

A post by Ovi at peakoilbarrel

All of the oil (C + C) production data for the US states comes from the EIAŹ¼s Petroleum Supply Monthly (PSM). At the end, an analysis of three different EIA monthly reports is provided. The charts below are updated to March 2020 for the 10 largest US oil producing states, (Production > or close to 100 kb/d).

Today’s June 1 update shows the continuous slow decline in oil output from US oil fields from November 2019 to March 2020. March output was 12,716 kb/d, down by 28 kb/d from February’s 12,744 kb/d. Also it should be noted that February’s output estimate from the EIA’s earlier May report, 12,833 kb/d, has been revised to 12,744 kb/d, a downward revision of 89 kb/d. The Red dot is the projected April output from the May Monthly Energy Review.

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Are Non-OPEC’s Best Days in the Rear-view Mirror

Ovi 108 Comments

A post by Ovi at peakoilbarrel.

While this post updates Non-OPEC production to January 2020, we are now in late May and the direction for future production for the next few years is clear, LOWER than where it was in March 2020. OPEC, in response to the reduced worldwide demand, arranged for a production reduction through a Declaration of Cooperation (DoC) with OPEC and Non-OPEC countries. Also Canada and Norway have indicated they will be cutting production in response to world wide reduced demand. The OPEC + DoC reduction schedule and chart are shown and discussed at the end of this post.

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