STEO – Page 7 – Peak Oil Barrel

March 2023 Non-OPEC Oil Production Drops

07/12/202307/15/2023 Ovi 301 Comments

A post by Ovi

Below are a number of Crude plus Condensate (C + C) production charts, usually shortened to “oil”, for Non-OPEC countries. Normally the charts are created from data provided by the EIA’s International Energy Statistics in the first week of the month. Unfortunately the EIA was not able to update the production information for March until today. Consequently the charts below are produced from a mixture of country specific sites such as Brazil, Norway and China and the July STEO and the International report. The International report was used to update the March production data.

Where STEO data was used, the ratio of C + C to All Liquids was calculated. The average from the last six months was used to project the March production numbers and extended to May in a few cases.

World oil production charts are found at the end of this post.

March Non-OPEC oil production dropped by 268 kb/d to 51,434 kb/d. The largest decreases came from the Russia, 300 kb/d and Brazil 146 kb/d.

STEO and Tight Oil Update, June 2023

06/26/202306/29/2023 D Coyne 297 Comments

The EIA’s Short Term Energy Outlook (STEO) was published in early June. The chart below estimates World C+C by using the STEO forecast combined with past data from the EIA on World Output.

EIA Short Term Energy Outlook, Tight Oil Report, and IEA Oil Market Outlook, May 2023

05/26/202305/26/2023 D Coyne 169 Comments

The EIA’s Short Term Energy Outlook (STEO) was published in early May. The report that follows compares World Petroleum Liquids output from the STEO with estimates from OPEC’s Monthly Oil Market Report (MOMR) from May and the IEA’s Oil Market Report (OMR) from February 2023 with an update on World liquids output based on the summary of the May report with my estimate on quarterly output in 2023 based on the annual estimate for 2023 published in May 2023 and the quarterly numbers published in February 2023.

OPEC Update, May 2023

05/19/202305/19/2023 D Coyne 160 Comments

The OPEC Monthly Oil Market Report (MOMR) for May 2023 was published recently. The last month reported in most of the OPEC charts that follow is April 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.

Short Term Energy Outlook, April 2023

04/27/202304/27/2023 D Coyne 105 Comments

The Short Term Energy Outlook (STEO) was published by the US Energy Information Administration (EIA). Most of the oil information was covered in an earlier post. Oil price forecast below.