OPEC Update, October 2022

D Coyne 141 Comments

The OPEC Monthly Oil Market Report (MOMR) for October 2022 was published recently. The last month reported in most of the OPEC charts that follow is September 2022 and output reported for OPEC nations is crude oil output in thousands of barrels per day (kb/d). In most of the OPEC charts that follow the blue line is monthly output and the red line is the centered twelve month average (CTMA) output.  Note however there are a few exceptions to this for OPEC+ charts near the end of the post where EIA C+C data was used which has the most recent data from June 2022 (so three months behind the OPEC crude only data in most of the charts that follow.)

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June Non-OPEC Oil Production Rises from U.S. and Russia Boost

Ovi 293 Comments

A guest post by Ovi

Below are a number of Crude oil plus Condensate (C + C ) production charts for Non-OPEC countries created from data provided by the EIA’s International Energy Statistics and updated to June 2022. This is the latest and most detailed world oil production information available. Information from other sources such as OPEC, the STEO and country specific sites such as Russia, Brazil, Norway and China is used to provide a short term outlook for future output and direction for a few countries and the world. The US report has an expanded view beyond production by adding rig and frac charts.

June Non-OPEC production increased by 178 kb/d to 48,990 kb/d. The largest increases came from Russia, 510 kb/d and the U.S., 201 kb/d. The largest offsetting decreases came from Kazakhstan, 381 kb/d and Norway, 285 kb/d. 

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US July Oil Production Shows Little Growth

Ovi 267 Comments

A guest post by Ovi

All of the Crude plus Condensate (C + C) production data for the US state charts comes from the EIAʼs September Petroleum Supply monthly PSM which provides data up to July 2022.

U.S. July production increased by a minimal 12 kb/d to 11,800 kb/d. For July, the states with increasing production were offset by states with decreasing production. July’s production was a new recent high. Production was 10 kb/d higher than November 2021 which was producing at a rate of 11,790 kb/d.  However it should be noted that June’s oil production was revised down from 11,816 kb/d to 11,788 kb/d in the September report.

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