The IEA Oil Market Report was published in mid April, data from the report can be found here.
The EIA’s STEO was published on May 9, 2017.
I assume in the chart above that OPEC crude output is 32 Mb/d in the last three quarters of 2017. Read More
Tag: Short Term Energy Outlook
EIA’s Short-Term Energy Outlook
The EIA has just released its Short-Term Energy Outlook. Some of their projections should be taken with a grain of salt because they usually change every month. Nevertheless…
All US production is Crude + Condensate. All other production numbers are total liquids. The data is in million barrels per day.
The EIA has US production leveling out at just under 8.8 million bpd until Oct. 2017.
North Dakota Production and STEO
The Bakken and North Dakota production data is out.
Bakken production was up 6,540 barrels per day while all North Dakota production was up 5,383 bpd. This was not posted as a correction to last months data though it looks that is exactly what it is. Last months data was twice as much as it should have been so now it is correct. Notice the data from the Drilling Productivity Report. It appears to have June data exactly correct, or very nearly so. Of course that is all the Bakken, including the Montana Bakken.
Just How Accurate Are The EIA’s Predictions?
The EIA recently published the February edition of their Short-Term Energy Outlook. If you follow this month to month, and I do, you will notice their prognostications change a little every month. And over several months those small changes can add up to some rather dramatic changes. Nevertheless, below are several charts with their current oil production projections.
The EIA STEO only gives monthly data for total liquids. All C+C data is quarterly and annually. The monthly projected data begins in February 2016. Projections for quarterly and annual data begins January 2016.
The EIA says Non-OPEC total liquids dropped .5 million barrels per day in December and another .36 mbd in January. But then, other than another short drop in the first quarter of 2017, they see things leveling out for the next two years.
Bakken up in November plus STEO
The Bakken and All North Dakota oil production data is out.
Bakken production was up by 5,166 barrels per day to 1,119,380 bpd While all North Dakt0a was up 5,195 bpd to 1,176,314 bpd.
North Dakota production has been basically flat for 14 months. Both North Dakota and Bakken production is still below their September 2014 levels.