shale oil – Page 2 – Peak Oil Barrel

US July Oil Production Rises on Texas & GOM Jump

10/04/202310/04/2023 Ovi 147 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 July 2023.

U.S. July oil production increased by 91 kb/d to 12,991 kb/d. The large increase was primarily due to a 73 kb/d increase in the GOM and a 72 kb/d increase in Texas.

The dark blue graph, taken from the September 2023 STEO, is the forecast for U.S. oil production from August 2023 to December 2024. Output for December 2024 is expected to be 13,457 kb/d which is 457 kb/d higher than the November 2019 peak of 13,000 kb/d.

OPEC Update, May 2023

05/19/202305/19/2023 D Coyne 160 Comments

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

EIA Short Term Energy Outlook and Annual Energy Outlook 2023

03/27/202303/27/2023 D Coyne 271 Comments

The EIA updated the Short Term Energy Outlook (STEO) in March and also released the 2023 version of the Annual Energy Outlook in March. This post will take a brief look at both of these reports with a focus on Crude plus Condensate (C+C) Output for the World, OPEC and Non-OPEC in the case of the STEO through the fourth quarter of 2024 and US C+C output for three oil price cases from 2022 to 2050, reference (medium oil price), high and low oil price cases.

Non-OPEC’s November Oil Production Increase Offsets OPEC’s Cutback

03/11/202303/11/2023 Ovi 223 Comments

A guest post by Ovi

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 November 2022. 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. The US report has an expanded view beyond production by adding rig and frac spread charts.

November Non-OPEC oil production increased by 502 kb/d to 51,099 kb/d. The majority of the increase came from Kazakhstan and Russia.

In the last report, the forecast for November production was 51,051 kb/d. It was low by 48 kb/d.

Winter Storm Drops US December Oil Production

03/04/202303/04/2023 Ovi 207 Comments

A guest post by Ovi

All of the Crude plus Condensate (C + C) production data for the US state charts comes from the EIAʼs February Petroleum Supply monthly PSM which provides updated information up to December 2022.

U.S. December production decreased by 276 kb/d to 12,101 kb/d. For December, the state with the largest decrease was North Dakota with 135 kb/d followed by Texas with 65 kb/d while New Mexico had the largest increase, 46 kb/d. The December production decline was caused by bad weather in many states.