The Texas RRC Oil and Gas Production Data with production data for August is out.
The RRC data is always incomplete but if this month’s incomplete data is less than last month’s incomplete data then that’s a pretty good indicator that production this month is down.
The EIA data here is only through July. They have Texas production peaking in March at 3,644,000 barrels per day and declining by 197,000 bpd to 3,447,000 bpd in July.
Data for the below chart is from the Weekly Petroleum Status Report.
Here we have a three year WTI price comparison chart. You can see that the 2014 price collapse began at almost the exact same time of the year as the 2008 price collapse. The 2008 collapse was a lot more dramatic and fell faster and slightly lower than the 2014 collapse. The 2008 collapse bottomed out around Christmas of that year and the 2014 did not pause until late January 2015. However by late October 2009 the WTI price was already in the $80 range. This time however we are still stuck below $50.
The Bakken and North Dakota production data is in.
Bakken production was down 19,502 bpd in August while all North Dakota was down 20,552 bpd.
The OPEC Monthly Oil Market Report is just out with the crude only production numbers for the 12 OPEC countries. The data below is in thousand barrels per day and the last data point is September 2015.
OPEC 12 crude only production was up 109,000 barrels per day in September but that was after the August production numbers were revised down by 82,000 bpd. OPEC crude only production now stands at 31,571,000 pbd. That is just 12,000 bpd above June production but still 100,000 bpd below their peak in July of 2008.
The EIA is out with the latest Short Term Energy Outlook. All charts below are in million barrels per day. The one table is in thousand barrels per day. The projected data is through December 2016.
The EIA has Non-OPEC total liquids dropping 620,000 bpd in September, up 280,000 bpd in November but bottoming out in January, February and March, then climbing until October of 2016.