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.
The Bakken Production Statistics and the ND Production Statistics with June production numbers has been published.
Bakken production was up by 10,887 barrels per day to 1,152,455 BPD while all North Dakota production was up by 8,565 barrels per day to 1,211,180 BPD. Bakken production is still 11,068 bpd below their December high while all North Dakota production is still 17,240 bpd below their December high.
North Dakota has published their Bakken Production Data as well as North Dakota Production Data.
North Dakota production was up 12,501 bpd above February but still stands 37,531 bpd below the December high and is still 789 bpd below the January production numbers.
Barrels per day per well is dropping, 12o for Bakken wells, 99 forN.D. Total and 23 for Conventional wells.
The Cornucopians are exuberant, they believe that collapsing of oil prices dealt the death knell for peak oil. An oil glut, they say, is what we have, not peak oil. But an oil glut is exactly what we would expect at the very peak. After all, that is what peak oil is, that is the the point in time when the world produces more oil than ever in history… and the most it ever will produce.
I am of the firm conviction that the world is at the peak of world oil production right now, or was at that point three or four months ago. I think history will show that the 12 months of September 2014 through August 2015 will be the one year peak. Whether the calendar year peak is 2014 or 2015 is the only thing still in question, or that is my opinion anyway.
The EIA says, in their Short Term Energy Outlook says US Crude oil will peak, at least temporarily, in May 2015.
Looking at the area breakdown for total US production:
This chart includes net US crude oil imports. Notice how they expect crude oil imports to bottom out in February of 2015 at 5.78 mbd then increase to 6.71 mbd in August before declining to 5.82 mbd in December.