A Guest post by Ovi
All of the Crude plus Condensate (C + C) production data for the US state charts comes from the EIAʼs Petroleum Supply monthly PSM.
U.S. June production increased by 201 kb/d to 11,816 kb/d. Of the 201 kb/d increase, the largest increase came from the GOM, 183 kb/d. June’s production was a new recent high at 26 kb/d higher than November 2021 which was producing at a rate of 11,790 kb/d.
Read MoreThe EIA recently released its International Energy Outlook and it is quite optimistic. In the chart below I compare their estimate for World Crude plus Condensate (C+C) output with an oil shock model with a URR of about 3100 Gb.
The USA data below was taken primarily from the EIA’s Petroleum Supply Monthly while some were taken from the EIA’s Monthly Energy Review.
I have some bad news to report. The EIA no longer published World production data or Non-OPEC production data. This data had previously been published in the Monthly Energy Review.
The Monthly Energy Review’s data was one month behind the Petroleum Supply Monthly but now they jumped two months and are now one month ahead of the Petroleum Supply Monthly. They now publish the previous month’s numbers, June in this case, but now publish only US data. The Petroleum Supply Monthly is unchanged.
EDIT: The Petroleum Supply Monthly does publish some, incomplete, world data… through April or one month behind their USA data. I will use that with an explanation and comments next month.
The closest I can come to World oil production, through June, is the combined production of OPEC, Russia, the USA, and Canada. This is 70% of total World Production.
The US Energy Information Administration publishes Tight Oil Production Estimates by Play each month (can be found at link above.) I noticed this month that the estimates seemed different than I remembered so I checked earlier estimates I had saved on my computer. The chart below compares estimates from Dec 2018 to April 2019 (where the last month of data in the estimate is Dec 2018, Feb 2019, March 2019, and April 2019).
Most of the data below is taken from from the EIA’s Short-Term Energy Outlook. The data through February, 2019 is the EIA’s best estimate of past production and all data from March 2019 through December 2020 is the EIA’s best estimate of future production. However in most cases February production is highly speculative so I drew the “projection” line between January and February.
Understand the above chart is Total Liquids, not C+C as I usually post. As you can see the EIA expects world petroleum liquids to keep climbing ever upwards.
This is the EIA’s data for OPEC all liquids with Production data from April 2019 through December 2020.