March 2023 Non-OPEC Oil Production Drops

A post by Ovi

Below are a number of Crude plus Condensate (C + C) production charts, usually shortened to “oil”, for Non-OPEC countries. Normally the charts are created from data provided by the EIA’s International Energy Statistics in the first week of the month. Unfortunately the EIA was not able to update the production information for March until today. Consequently the charts below are produced from a mixture of country specific sites such as Brazil, Norway and China and the July STEO and the International report. The International report was used to update the March production data.

Where STEO data was used, the ratio of C + C to All Liquids was calculated. The average from the last six months was used to project the March production numbers and extended to May in a few cases.

World oil production charts are found at the end of this post.

March Non-OPEC oil production dropped by 268 kb/d to 51,434 kb/d. The largest decreases came from the Russia, 300 kb/d and Brazil 146 kb/d.

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OPEC Update, June 2023

The OPEC Monthly Oil Market Report (MOMR) for June 2023 was published recently. The last month reported in most of the OPEC charts that follow is May 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. 

Figure 1
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US March 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 Petroleum Supply monthly PSM which provides updated information up to March 2023.

U.S. March oil production increased by 171 kb/d to 12,696 kb/d, a new post pandemic high. Note that February’s output was also revised up by 42 kb/d from 12,483 to 12,525 kb/d. So relative to the initial EIA February report, production is up by 213 kb/d.

The EIA’s forecast production drop that starts in May 2023 could be associated with the drop in completions that started in early May combined with a projected drop in GOM production.

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