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.
Tag: EIA STEO
STEO and Tight Oil Update, July 2023
The EIA’s Short Term Energy Outlook (STEO) was published in early July. The chart below estimates World C+C by using the STEO forecast combined with past data from the EIA on World Output.
This month we have actual EIA data for 2023Q1 which increases the annual rate of increase for the forecast period compared to last month by 600 kb/d, part of the reason is an 800 kb/d forecasted drop in output from Q1 to Q2 of 2023. If we use the 2023Q1 to 2024Q4 trend the annual rate of increase is 911 kb/d, about a 100 kb/d increase from last month’s estimate. The trend from 2022Q1 to 2024Q4 is similar at about 916 kb/d. If this forecast through 2024Q4 is roughly correct, I expect increases in output after 2024 will be considerably lower, I also think this STEO forecast is optimistic. Annual average output in 2022 was 80.74 Mb/d and increases to 81.4 Mb/d in 2023 and to 82.6 Mb/d in 2024. These annual averages are 0.25 Mb/d less in 2023 and similar for 2024 as last month’s estimates.
Read MoreSTEO and Tight Oil Update, June 2023
The EIA’s Short Term Energy Outlook (STEO) was published in early June. The chart below estimates World C+C by using the STEO forecast combined with past data from the EIA on World Output.
EIA Short Term Energy Outlook, Tight Oil Report, and IEA Oil Market Outlook, May 2023
The EIA’s Short Term Energy Outlook (STEO) was published in early May. The report that follows compares World Petroleum Liquids output from the STEO with estimates from OPEC’s Monthly Oil Market Report (MOMR) from May and the IEA’s Oil Market Report (OMR) from February 2023 with an update on World liquids output based on the summary of the May report with my estimate on quarterly output in 2023 based on the annual estimate for 2023 published in May 2023 and the quarterly numbers published in February 2023.
Short Term Energy Outlook, April 2023
The Short Term Energy Outlook (STEO) was published by the US Energy Information Administration (EIA). Most of the oil information was covered in an earlier post. Oil price forecast below.
