A post by Ovi at peakoilbarrel
Below are a number of oil (C + C ) production charts for Non-OPEC countries created from data provided by the EIA’s International Energy Statistics and updated to April 2020. Information from other sources such as the OPEC and country specific sites is used to provide a short term outlook for future output and direction.
A post by Ovi at peakoilbarrel
All of the oil (C + C) production data for the US states comes from the EIAʼs Petroleum Supply monthly PSM. At the end of the production charts, an analysis of three different EIA monthly reports projecting future production is provided. The charts below are updated to May 2020 for the 10 largest US oil producing states.
May’s production drop is just short of 2 Mb/d by 11 kb/d. Awesome. US oil fields began a slow and steady decline from November 2019 to March 2020. March brought the combination of CV-19 and oil price drop that led to the sharp production plunges in April and May. Since the current EIA data is two months delayed, May is the second month that shows the combined effects of the pandemic and low oil prices. Will June drop below 10,000 kb/d?
Read MoreA Guest Post by George Kaplan
Overall Annual Production
US Gulf of Mexico C&C production has had a series of peaks; firstly two from shallow oil, the middle acceleration probably caused by the mid seventies oil shock; followed by deep oil development and finally by ultra deep oil, with a dip in the middle from the Deep Horizon drilling hiatus. Most production has come from eastern and central (i.e. mainly Louisiana) with some, and falling, from the western section (Texas).
A post by Ovi at peakoilbarrel
Below are a number of oil (C + C ) production charts for Non-OPEC countries created from data provided by the EIA’s International Energy Statistics and updated to March 2020. Information from other sources such as the OPEC and country specific sites is used to provide a short term outlook for future output and direction.
Near the end, there is a section comparing World oil production with World oil production W/O the US. Interestingly, World oil W/O the US peaked two years before World oil production. The last section provides a short summary of The Shift Report, where it shows the increasing difficulty oil producing countries will have in offsetting decline in old oil fields and the difficulty in getting back to pre-pandemic supply levels.
It would be appreciated if we could have some further comments on these two sections before the Covid comments start. Does the fact that world oil production W/O the US peaked two years before World oil production make it more likely that November 2018 will continue to be the date for Peak Oil? Are there any weaknesses or missing or newer information that could shift the Shift Report time frame for meeting world demand post 2025?
A post by Ovi at peakoilbarrel.
All of the oil (C + C) production data for the US states comes from the EIAʼs Petroleum Supply monthly PSM. At the end, an analysis of three different EIA monthly reports is provided. The charts below are updated to April 2020 for the 10 largest US oil producing states.
This US production chart is updated to April and tentatively extended to May and shows the continuous slow decline in oil output from US oil fields from November 2019 to March 2020 and then the sharp acceleration in April and May. Since the current EIA data is two months delayed, April is the first month that shows the combined effects of the pandemic and low oil prices.
Read More