Author: Ovi

Non-OPEC Production Growth is Struggling

Ovi 155 Comments

A Post by Ovi at peakoilbarrel.

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 September 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 decreased by 22 kb/d from 50,512 kb/d in August to 50,490 kb/d in September. This is another output reduction month in 2019. In 2019 there have been 5 months of decline and 4 months of increases. For comparison purposes, in 2018, there were 9 monthly increases and 3 decreases. This is just another indicator of the increasing difficulty Non-OPEC countries will have boosting output going forward, now that US production growth has started to slow.

September production is just 287 kb/d short of the previous high of 50,777 kb/d reached in December 2018. Will new output from Norway and Brazil, along with small but increasing US output coming in the next few months raise Non-OPEC output beyond the previous December 2018 high?

Read More

U.S. Oil Production Is Competing Against Decline

Ovi 254 Comments

A Post by Ovi at peakoilbarrel . com

All of the oil production data for the US states comes from the EIAʼs Petroleum Supply Monthly. In addition, information from other EIA offices is provided to project future US output. At the end, an estimate is made for the decline rate in the L48 conventional oil fields and an analysis of a few different EIA reports is undertaken.

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

U.S. oil output continued to increase in October 2019. Production reached a new high of 12,655 kb/d, an increase 171 kb/d over September and 55 kb/d higher than estimated by the December Monthly Energy Review (MER). However it is 93 kb/d lower than the 12,748 kb/d estimated in the December STEO report. This could be an indication that the January STEO report will again lower US production estimates for 2020.

Read More