The latest OPEC Monthly Oil Market report is out with OPEC production numbers for August 2015.
All charts below are in thousand barrels per day with the last data point August 2015.
Not much has happened since June, OPEC 12 production was up 12,000 bpd in August that is well within the margin of error.
OPEC publishes monthly production data for all OPEC nations in their Monthly Oil Market Report. The data crude oil production only and does not include condensate. I have found the data to be highly accurate and any errors are corrected in the next month’s report or the month following that. The OPEC data is from OPEC’s “Secondary Sources”.
The EIA also publishes OPEC production data in their International Energy Statistics. However the EIA does not publish crude only data. Their data includes condensate.
All data is in thousand barrels per day. The last EIA data point is December 2014 and the last OPEC data point is April 2015.
Almost 20% of Algeria’s production is condensate if the EIA is correct. Algeria does produce a lot of condensate but I have serious doubts about the accuracy of the EIA data. As you can see from the chart the EIA has Algeria’s production absolutely flat for 24 months, from January 2010 through December 2011. But both the EIA and OPEC agree on one point, Algeria is in decline.
The OPEC Monthly Oil Market Report is just out with crude only production numbers for all OPEC countries for April 2015.
According to their secondary sources OPEC 12 production was up 18,000 bpd but that was after March production had been revised up 39,000 bpd.
Saudi was up 27,000 bpd. They are still 15,000 bpd below their peak in August 2013.
All rig count data is provided by Baker Hughes. All monthly charts are oil rigs only. Gas rigs are not included in the count. The last data point for all monthly charts is April 2015.
When I talk about “peaks” in this post I am only speaking of the peak since 2011 and am not suggesting that there were not higher peaks in previous years.
The International Rig Count has fallen by 150 rigs, from 1,080 in July 2014 to 930 in April 2015. This count does not include the USA, Canada or any of the FSU countries.
The European Oil Rig Count dropped from 96 in October and November to 65 in April.
The OPEC Monthly Oil Market Report is out with OPEC crude only production numbers for March 2015.
OPEC production was up 812,000 barrels per day. The increase came primarily from three countries:
Saudi Arabia was up 347,000 barrels per day to 10,010,000 bpd.