The EIA’s Short Term Energy Outlook (STEO) was published in early June. The chart below estimates World C+C by using the STEO forecast combined with past data from the EIA on World Output.
STEO and Tight Oil Update, June 2023
Tag: Light Tight Oil
EIA Short Term Energy Outlook, Tight Oil Report, and IEA Oil Market Outlook, May 2023
The EIA’s Short Term Energy Outlook (STEO) was published in early May. The report that follows compares World Petroleum Liquids output from the STEO with estimates from OPEC’s Monthly Oil Market Report (MOMR) from May and the IEA’s Oil Market Report (OMR) from February 2023 with an update on World liquids output based on the summary of the May report with my estimate on quarterly output in 2023 based on the annual estimate for 2023 published in May 2023 and the quarterly numbers published in February 2023.
OPEC Update, May 2023
The OPEC Monthly Oil Market Report (MOMR) for May 2023 was published recently. The last month reported in most of the OPEC charts that follow is April 2023 and output reported for OPEC nations is crude oil output in thousands of barrels per day (kb/d). In many of the OPEC charts that follow the blue line with markers is monthly output and the thin red line is the centered twelve month average (CTMA) output.
US January Oil Production at Post Pandemic High
A Guest post by Ovi
All of the Crude plus Condensate (C + C) production data for the US state charts comes from the EIAʼs March Petroleum Supply monthly PSM which provides updated information up to January 2023.
U.S. oil production increased by 437 kb/d to 12,462 kb/d, a post pandemic high. For January, the GOM contributed 125 kb/d to this high. The states with the largest increase were North Dakota with 97 kb/d followed by Texas with 76 kb/d.
Read MoreEIA Short Term Energy Outlook and Annual Energy Outlook 2023
The EIA updated the Short Term Energy Outlook (STEO) in March and also released the 2023 version of the Annual Energy Outlook in March. This post will take a brief look at both of these reports with a focus on Crude plus Condensate (C+C) Output for the World, OPEC and Non-OPEC in the case of the STEO through the fourth quarter of 2024 and US C+C output for three oil price cases from 2022 to 2050, reference (medium oil price), high and low oil price cases.
