This is NOT a non-petroleum open thread, see post below for those comments.
Comments on oil and natural gas output should be in this thread, thank you.
Tag: OPEC
OPEC December Oil Production
The latest OPEC Monthly Oil Market Report is out with production numbers for December 2017. All data is in thousand barrels per day.
Total OPEC crude only production was up by 42,400 barrels per day in December. However, that was after November production was revised downward by 75,000 bpd. So OPEC production was actually down 33,000 bpd from what was reported last month.
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.
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 November Oil Production
The OPEC data below was taken from the December OPEC Monthly Oil Maret Report. All data is through November 2017 unless otherwise noted.
OPEC crude oil production declined by 133,500 barrels per day in November.
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.