The OPEC Monthly Oil Market Report (MOMR) for April 2024 was published recently. The last month reported in most of the OPEC charts that follow is March 2024 and output reported for OPEC nations is crude oil output in thousands of barrels per day (kb/d). In 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.  Preliminary February 2024 data shows total OECD commercial oil stocks down by 25.7 Mb, m-o-m. At 2,733 Mb, they were 80 Mb lower than the same time one year ago, 105 Mb lower ..read more

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The EIA STEO was published recently the estimate below is based on data from that report and statistics from the EIA International Energy Statistics. The EIA expects the 2018 peak for annual average World C+C output will be surpassed in 2025. A number of charts have been pulled from the STEO report and are presented below. This month the EIA revised the 2022 global liquid fuels consumption data available in the International Energy Statistics, increasing the assessment of global oil consumption that year by nearly 0.8 million barrels per day (b/d) compared to last month’s STEO. The historic ..read more

By Ovi The focus of this post is World oil production along with a more detailed look at the top 11 Non-OPEC oil producing countries. Below are a number of Crude plus Condensate (C + C) production charts, usually shortened to “oil”, for oil producing countries. The charts are created from data provided by the EIA’s International Energy Statistics and are updated to December 2023. This is the latest and most detailed/complete World Oil production information available. Information from other sources such as OPEC, the STEO and country specific sites such as Brazil, Norway and China is used to pr ..read more

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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 January 2023. U.S. January oil production decreased by 762 kb/d to 12,533 kb/d. The large decrease was due to a severe US winter storm that was spread across most central states. The largest drop came from Texas, 288 kb/d. The dark blue graph, taken from the March 2023 STEO, is the forecast for U.S. oil production from February 2024 to December 2025. Output for December 2025 is expected to reach 1 ..read more

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By Ovi Below are a number of Crude plus Condensate (C + C) production charts, usually shortened to “oil”, for oil producing countries. The charts are created from data provided by the EIA’s International Energy Statistics and are updated to November 2023. This is the latest and most detailed/complete World Oil production information available. Information from other sources such as OPEC, the STEO and country specific sites such as Brazil, Norway and China is used to provide a short term outlook.  World oil production increased by 745 kb/d in November, green graph. The largest increase ca ..read more

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The OPEC Monthly Oil Market Report (MOMR) for March 2024 was published recently. The last month reported in most of the OPEC charts that follow is February 2024 and output reported for OPEC nations is crude oil output in thousands of barrels per day (kb/d). In 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.  There was no update on World Liquids in the March MOMR which is different from every other MOMR I have read. Preliminary January 2024 data shows total OECD commercial oil ..read more