The EIA STEO was published recently, the estimate for World C+C output from September 2024 to December 2024 in the chart below is based on crude oil estimates in the STEO for World minus US C+C output and the ratio of the STEO crude estimates and C+C estimates from the EIA’s International Energy Statistics for World minus US C+C output for the most recent 12 months (September 2023 to August 2024).
The EIA STEO was published recently, most estimates for Petroleum liquids and crude oil output have been revised lower compared to the estimates in September’s report.
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 June 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 decreased by 299 kb/d in June to 81,105 kb/d, green graph. The largest decreases came from Saudi Arabai 350 kb/d and Russia 142 kb/d. July’s World oil production is projected to increase by 665 kb/d to 81,770 kb/d.
Read MoreBy Ovi
All of the Crude plus Condensate (C + C) production data, oil, for the US state charts comes from the EIAʼs Petroleum Supply monthly PSM which provides updated information up to July 2024.
U.S. July oil production dropped by 25 kb/d to 13,205 kb/d. The largest decreases came from Texas, 34 kb/d and North Dakota, 20 kb/d.
Read MoreThe EIA STEO was published recently, the estimate below is based on data from that report and statistics from the EIA International Energy Statistics. The EIA expects the 2018 peak for annual average World C+C output will be surpassed in 2025. The monthly peak in November 2018 is also expected to be surpassed in November 2025.
