Canada – Page 5 – Peak Oil Barrel

OPEC’s 2015 World Oil Outlook

12/25/201512/25/2015 Ron Patterson 463 Comments

The OPEC 2015 World Oil Outlook came out a few days ago. They basically produce two outlooks, a medium term outlook to 2020 and a long term outlook to 2040. I found their medium term outlook pessimistic in some cases to optimistic in others. But I found their long term outlook to be wildly optimistic… in most cases.

In all cases below I chart crude when it is available and “liquids” only when no other option is available. The data is in million barrels per day.

Here is their medium term outlook chart. Notice they expect both OPEC and Non-OPEC crude to decline in 2016 but Non-OPEC crude starts a slow recovery in 2017. They say OPEC crude will not start their recovery until 2019.

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The Case For Peak Oil

11/20/201511/21/2015 Ron Patterson 538 Comments

All charts below were created with data from JODI, the EIA and OPEC MOMR. It is in thousand barrels per day and the last data point is September 2015.

World crude oil production has taken off during the last two years due primarily to US shale oil production and higher output from OPEC. However very high oil prices has enabled many other countries to increase drilling rigs and production.

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EIA Short Term Energy Outlook

10/07/201510/07/2015 Ron Patterson 333 Comments

The EIA is out with the latest Short Term Energy Outlook. All charts below are in million barrels per day. The one table is in thousand barrels per day. The projected data is through December 2016.

The EIA has Non-OPEC total liquids dropping 620,000 bpd in September, up 280,000 bpd in November but bottoming out in January, February and March, then climbing until October of 2016.

International Rig Count Still Falling

08/07/201508/07/2015 Ron Patterson 434 Comments

The Baker Hughes International Rig Count is out. I have decided to try something new with the charts. That is to compare the current year’s rig count with the previous two years count and to insert, within the charts, the percent change for this year as compared to last year. Also, this is the total rig count, Oil and Gas. Also the charts are not zero based. I do this in order to better emphasize the monthly change.

July usually sees a big jump in rig counts. This year there was a very tiny July increase, only a fraction of the increase we usually see for July.

*The Total International rig counts does not include the USA, Canada or the FSU. The Total International rig count was down 28 in July to 1118. Last July it was up3 to 1344.

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New International Energy Statistics.

06/22/201506/22/2015 Ron Patterson 492 Comments

The Eia has finally updated their International Energy Statistics with data through February 2015. All data in the charts below are Crude + Condensate and is in thousand barrels per day with the last data point February 2015.

World C+C dropped 477,000 bpd in January and another 65,000 bpd in February for a total decline of 542,000 bpd. World C+C stood at 79,160,000 barrels per day in February.

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