The OPEC Monthly Oil Market Report for January 2020 was published this past week. The last month reported in each of the charts that follow is January 2021 and output reported for OPEC nations is crude oil output in thousands of barrels per day (kb/d).
Comments not related to oil and/or natural gas production in this thread please.
The OGA issues UK oil and gas reserve values each year, but only in total, not for individual fields as is done in Norway, Mexico, GoM and Brazil (which reports by basin rather than field). The reserves are not backdated to discovery date so it’s not possible to generate anything like a true creaming curve, but they are split into categories of proved, probable and possible, and, since 2015, contingencies. Operators in the UK North Sea have up to five years to announce estimated resources in discoveries so there may be uncertainties for recent years, unlike in the Norwegian section where estimate must be declared as soon as they are known.
OPEC Monthly Oil Market Report for December 2020 was published this week. The last month reported in each of the charts that follow is December 2020 and output reported for OPEC nations is crude oil output in thousands of barrels per day (kb/d).
The future of tight oil output in the US will depend in large part on future development of Permian Basin resources in Texas and New Mexico. I have developed nine scenarios for future Permian basin tight oil output based on 3 levels of technically recoverable resources (TRR) and 3 different future oil price scenarios. These are summarized in the chart below.
