Oil Production – Page 3 – Peak Oil Barrel

February Non-OPEC and World Oil Production Rises

06/12/202406/12/2024 Ovi 136 Comments

By Ovi

The focus of this post is an overview of World oil production along with a more detailed review of the top 11 Non-OPEC oil producing countries. OPEC production is covered in a separate post.

Below are a number of Crude plus Condensate (C + C) production charts, usually shortened to “oil”, for oil producing countries. The charts are created from data provided by the EIA’s International Energy Statistics and are updated to February 2024. This is the latest and most detailed/complete World Oil production information available. Information from other sources such as OPEC, the STEO and country specific sites such as Brazil, Norway and China is used to provide a short term outlook.

World oil production increased by 553 kb/d in February to 82,219 kb/d, green graph. The largest increase came from the U.S., 578 kb/d. March’s World oil production is projected to rise by 402 kb/d to 82,621 kb/d. As a check on the estimate for February 2024 that was made in the previous forecast, it was 82,204 kb/d, low by 15 kb/d.

Another New High for US November Oil Production

02/02/202402/02/2024 Ovi 221 Comments

By Ovi

All of the Crude plus Condensate (C + C) production data for the US state charts comes from the EIAʼs Petroleum Supply monthly PSM which provides updated information up to November 2023.

U.S. November oil production increased by 84 kb/d to 13,308 kb/d, a new record high. The increase was primarily due to increases in Texas and New Mexico offset by a decrease in the GOM. Note that October production was revised down from 13,248 kb/d to 13,224 kb/d.

OPEC Update, January 2024

01/25/202401/27/2024 D C 245 Comments

The OPEC Monthly Oil Market Report (MOMR) for January 2024 was published recently. The last month reported in most of the OPEC charts that follow is December 2023 and output reported for OPEC nations is crude oil output in thousands of barrels per day (kb/d). In many of the OPEC charts that follow the blue line with markers is monthly output and the thin red line is the centered twelve month average (CTMA) output. For the first chart I compare OPEC- 13 with OPEC -12 due to Angola deciding to leave OPEC and reducing the number of OPEC nations by one.

US October Oil Production Held Steady

01/04/202401/05/2024 Ovi 218 Comments

By Ovi

All of the Crude plus Condensate (C + C) production data for the US state charts comes from the EIAʼs Petroleum Supply monthly PSM which provides updated information up to October 2023.

U.S. October oil production decreased by 4 kb/d to 13,248 kb/d. The decrease was primarily due to decreases in the GOM and North Dakota being partially offset by increases in Texas and New Mexico. Note that September production was revised up from 13,236 kb/d to 13,252 kb/d.

OPEC Update, December 2023

12/20/202312/20/2023 D C 193 Comments

The OPEC Monthly Oil Market Report (MOMR) for December 2023 was published recently. The last month reported in most of the OPEC charts that follow is November 2023 and output reported for OPEC nations is crude oil output in thousands of barrels per day (kb/d). In many of the OPEC charts that follow the blue line with markers is monthly output and the thin red line is the centered twelve month average (CTMA) output.