tight oil – Page 3 – Peak Oil Barrel

US September Oil Production New Record High

12/06/202312/06/2023 Ovi 165 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 September 2023.

U.S. September oil production increased by 224 kb/d to 13,236kb/d, a new record high by 236 kb/d over November 2019. The increase was primarily due to increases in the GOM and North Dakota. Note that August production was revised down from 13,053 kb/d to 13,012 kb/d, which accounts for 41 kb/d of the 224 kb/d September increase.

OPEC Update, November 18, 2023

11/18/202311/18/2023 D Coyne 66 Comments

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

STEO and Tight Oil Update, September 2023

09/27/202309/27/2023 D Coyne 160 Comments

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

OPEC Update, September 2023

09/19/202309/19/2023 D Coyne 264 Comments

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

STEO and Tight Oil Update, August 2023

08/31/202309/02/2023 D Coyne 161 Comments

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

The EIA’s Short Term Energy Outlook (STEO) was revised higher in August compared to July. World C+C output is expected to decrease in the second and third quarters of 2023 and then increase over the next 5 quarters. Annual average World C+C output increases by about 1000 kb/d in 2023 to 81743 kb/d and then to 82967 kb/d in 2024, less than 50 kb/d below the centered 12 month average peak in 2018. This month’s World C+C estimates are about 300 kb/d higher than last month for 2023 and 400 kb/d higher for 2024 due to the revisions in the STEO forecast this month.