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August Non-OPEC and World Oil Production

12/13/202312/13/2023 Ovi 196 Comments

By Ovi

The EIA International Energy Statistics had a reporting hiatus from its May 2023 report to July 2023. They have restarted their reports with the August update. This report updates the POB reports and charts posted for May, June and July.

Below are a number of Crude plus Condensate (C + C) production charts, usually shortened to “oil”, for Non-OPEC countries. The charts are created from data provided by the EIA’s International Energy Statistics and are updated to August 2023. This is the latest and most detailed world oil production information available. Information from other sources such as OPEC, the STEO and country specific sites such as Russia, Brazil, Norway and China is used to provide a short term outlook for future output and direction for a few of these countries and the world.

World oil production and projection charts are presented at the end of this post.

August Non-OPEC oil production dropped by 71 kb/d to 51,401 kb/d. The largest decreases came from Kazakhstan, Brazil and Russia.

US September Oil Production New Record High

12/06/202312/06/2023 Ovi 165 Comments

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 September 2023.

U.S. September oil production increased by 224 kb/d to 13,236kb/d, a new record high by 236 kb/d over November 2019. The increase was primarily due to increases in the GOM and North Dakota. Note that August production was revised down from 13,053 kb/d to 13,012 kb/d, which accounts for 41 kb/d of the 224 kb/d September increase.

OPEC Update, November 18, 2023

11/18/202311/18/2023 D Coyne 66 Comments

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

Open Thread Non-Petroleum, November 18, 2023

11/18/202311/18/2023 D Coyne 148 Comments

Comments not related to oil or natural gas in this thread please. Thanks.

EIA Short Term Energy Outlook and Tight Oil Update, November 2023

11/11/202311/11/2023 D Coyne 160 Comments

The EIA’s Short Term Energy Outlook (STEO) was published in early November. The chart below estimates World C+C by using the STEO forecast combined with past data from the EIA on World Output.

The EIA’s Short Term Energy Outlook (STEO) was revised lower in November compared to September (we skipped the October STEO). World C+C output is expected to decrease in the 2nd and 3rd quarters of 2023 and then increase over the next 5 quarters. Annual average World C+C output increases by about 1028 kb/d Mb/d in 2023 to 81804 kb/d and then to 82555 kb/d in 2024, about 445 kb/d below the centered 12 month average peak in 2018. This month’s World C+C estimates are about 400 kb/d lower than September’s estimate for 2023 and 1150 kb/d lower for 2024 due to the revisions in the STEO forecast since Sept 2023.