EIA – Page 14 – Peak Oil Barrel

The EIA’s Questionable Numbers

07/02/201507/02/2015 Ron Patterson 509 Comments

The EIA’s, on June 30th, published its Petroleum Supply Monthly. I Think their numbers are just way too high. I compared them with the EIA’s Weekly Petroleum Status Report. The chart below shows the Results.

I averaged the weekly numbers and converted them to monthly data. They were pretty close for the first three months of 2014 but then they begin to diverge. Of course they were much closer earlier but in the Petroleum Supply Monthly has, over several months, been revised upward. The Weekly Petroleum Status Report is never revised.

In April, the Petroleum Supply Monthly shows US C+C production 322,000 barrels per day above the weekly average of the Weekly Petroleum Status Report.

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Texas Oil and Gas Production for April

06/19/201506/19/2015 Ron Patterson 462 Comments

The preliminary Texas RRC Production Data is out this morning. There appears to be a considerable drop in Texas crude oil production in April. All Texas RRC data in the charts below is through April 2015 and all EIA data is through March 2015.

For those new to this site, the Texas RRC data is incomplete. The drooping lines will eventually, after the final data comes in, closer resemble the EIA data. Though I believe the EIA data is quite a bit too high at this point.

It appears that, when the final data comes in that Texas will have took a huge hit in January, recovered somewhat in February and March, then took another hit this past April.

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Bakken April Production Data

06/12/201506/13/2015 Ron Patterson 658 Comments

The North Dakota Industrial Commission is out with the April production Data for the Bakken and all North Dakota.

Eight month of flat to down production from the Bakken.

I have shortened the data to 16 months here to give a better picture of what is really happening. North Dakota reached an 8 month low. North Dakota, in April, was 17,631 barrels per day below their September 2014 production. The Bakken was only 11,024 below September 2014 so conventional wells seem to be dropping off pretty fast.

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OPEC + Different EIA Data

06/10/201506/10/2015 Ron Patterson 239 Comments

The latest OPEC Monthly Oil Market Report is out. There were no big surprises.

OPEC crude only production was up 23,000 bpd in May but that was after April had been revised upward by 110,000 bpd.

Almost no change is Saudi production, down 5,000 bpd to 10,107,000 bpd.

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World Oil Output Last 3 Years

06/03/201506/04/2015 Ron Patterson 492 Comments

The EIA publishes every possible energy stat for the USA and hardly anything for the rest of the world. Well, anything current for the rest of the world anyway. Their International Energy Statistics is already five full months behind and working on six. December 2014 is the last international oil production data we have.

Anyway during this lull in other data I decided to look at the last three years of international data, from December 2011 to December 2014. All data is in thousand barrels per day.

World C+C production was flat for most of 2012 and 2013 but in late 2013 production took off and has increased by about 3 million barrels per day above the average for 2012 and 2013. December C+C production was 79,300,000 BPD.

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