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 which provides updated information up to November 2023.
U.S. November oil production increased by 84 kb/d to 13,308 kb/d, a new record high. The increase was primarily due to increases in Texas and New Mexico offset by a decrease in the GOM. Note that October production was revised down from 13,248 kb/d to 13,224 kb/d.
Read MoreSTEO
The EIA’s Short Term Energy Outlook (STEO) was published in early January. The chart below estimates World C+C by using the STEO forecast combined with past data from the EIA on World Output.
STEO
The EIA’s Short Term Energy Outlook (STEO) was published in early December. The chart below estimates World C+C by using the STEO forecast combined with past data from the EIA on World Output.
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 which provides updated information up to September 2023.
U.S. September oil production increased by 224 kb/d to 13,236kb/d, a new record high by 236 kb/d over November 2019. The increase was primarily due to increases in the GOM and North Dakota. Note that August production was revised down from 13,053 kb/d to 13,012 kb/d, which accounts for 41 kb/d of the 224 kb/d September increase.
Read MoreThe EIA’s Short Term Energy Outlook (STEO) was published in early November. The chart below estimates World C+C by using the STEO forecast combined with past data from the EIA on World Output.
The EIA’s Short Term Energy Outlook (STEO) was revised lower in November compared to September (we skipped the October STEO). World C+C output is expected to decrease in the 2nd and 3rd quarters of 2023 and then increase over the next 5 quarters. Annual average World C+C output increases by about 1028 kb/d Mb/d in 2023 to 81804 kb/d and then to 82555 kb/d in 2024, about 445 kb/d below the centered 12 month average peak in 2018. This month’s World C+C estimates are about 400 kb/d lower than September’s estimate for 2023 and 1150 kb/d lower for 2024 due to the revisions in the STEO forecast since Sept 2023.
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