The 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.
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 May 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 687 kb/d in May to 81,036 kb/d, green graph. The largest decreases came from Canada 259 kb/d, Saudi Arabai 200 kb/d and Norway 138 kb/d. June’s World oil production is projected to drop by 249 kb/d to 80,787 kb/d.
Read MoreBy 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 Febuary 2023.
U.S. February oil production rebounded by 578 kb/d to 13,154 kb/d. The large increase was due to a rebound from the severe January winter storm that spread across most central states. The largest increases came from Texas, 172 kb/d and North Dakota 173 kb/d.
The dark blue graph, taken from the April 2023 STEO, is the forecast for U.S. oil production from March 2024 to December 2025. Output for December 2025 is expected to reach 13,904 kb/d and is an increase of 82 kb/d from the previous STEO report.
Read MoreBy 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 December 2023.
U.S. December oil production decreased by 4 kb/d to 13,315 kb/d. The small decrease was a mix of increases and decreases that netted out to a negligible decrease. The largest decrease came from Texas, 20 kb/d, offset by a New Mexico increase of 23 kb/d.
Read MoreThe EIA’s Short Term Energy Outlook (STEO) was published in early February. The chart below estimates World C+C by using the STEO forecast combined with past data from the EIA on World Output.
