Below are a number of oil (C + C ) production charts for Non-OPEC countries created from data provided by the EIAʼs International Energy Statistics and updated to August 2020. Information from other sources such as OPEC, the STEO and country specific sites such as Russia and Norway is used to provide a short term outlook for future output and direction for a few countries. Typically I collect updated country info after the 20th of the month for September and October. Since this is an early post, those have not changed from last month.
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 July 2020. Information from other sources such as OPEC, the STEO and country specific sites such as Russia and Norway is used to provide a short term outlook for future output and direction for a few countries.
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 May 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.
Non-OPEC production dropped slowly from a high of 52,638 kb/d in December 2019 to 52,396 kb/d in March 2020. In April that changed when we saw the first big drop in output from the Non-OPEC countries associated with Covid and with the drop in world oil prices. May output collapsed to 45,340 kb/d, which is close to the production level in September 2013.
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?
This post updates Non-OPEC production to February 2020. However we are now in late June 2020 and the effects of the plunge in the price of WTI which began on January 6 and ended in the negative low of $-37.63/bbl on April 20 is showing up in plunging production numbers in US and other oil producing countries that post more recent output numbers. However WTI has now recovered to close to $40/b and weekly US production numbers are indicating that output may have bottomed.
