Category: STEO

Short Term Energy Outlook, January 2025

D Coyne 132 Comments

The EIA Short Term Energy Outlook (STEO) was published recently, the estimate for World C+C output from October 2024 to December 2026 in the chart below is based on crude oil estimates in the STEO for World minus US C+C output and the trend in 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 from Jan 2018 to September 2024. For the next 5 charts the horizontal and vertical scales are the same, with 9 years on the horizontal axis and 16000 kb/d from the lowest to highest values on the vertical axis. The thin line represents monthly data or forecasts after September 2024 and the markers with labels show the average annual output for each year.

Last month’s estimate for average annual output in 2025 was 83467 kb/d using a similar methodology, so the STEO forecast has been revised lower for 2025, this STEO is the first to forecast through December 2026.

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Short Term Energy Outlook, December 2024

D Coyne 100 Comments

The EIA STEO was published recently, the estimate for World C+C output from September 2024 to December 2025 in the chart below is based on crude oil estimates in the STEO for World minus US C+C output and the trend in 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 48 months (September 2020 to August 2024).

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August Non-OPEC & World Oil Production Rose

Ovi 105 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 July 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, Mexico and China is used to provide a short term outlook. 

World oil production increased by 126 kb/d in August to 81,724 kb/d, green graph. The largest increase came from the U.S., 195 kb/d. September’s World oil production is projected to decrease by 880 kb/d to 81,844 kb/d. The countries contributing to the large September decrease are Norway and Libya, 180 kb/d and 400+ kb/d respectively.

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