Oil Price Outlook December 2017

A Guest Post by David Archibald

The views expressed in this post are those of the author alone.

This assessment is based on the data in the 2017 BP Statistical Review of World Energy available here. As such it uses that review’s definition of oil which is crude and condensate and natural gas liquids, uncompensated for their different energy contents or values of refined product components.

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Figure 1: World Oil Production 1990 – 2017
This analysis was prompted by a chart by Ovi showing that Non-OPEC production less Russia, Canada and the United States has been in decline since 2004. That decline rate is 0.25 million barrels/day/annum. It had previously risen strongly from 1990. Read More

OPEC October Production Data

All data below is based on the latest OPEC Monthly Oil Market Report.

All data is through October 2017 and is in thousand barrels per day.

I have now included Equatorial Guneia although I only have data from January 2015 from OPEC’s secondary sources. The January 2015 E. Guneia data was extended back to January 2005. I know this is inaccurate but production from E. Guneia is so small it will make little difference.

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