Update on incremental world crude and condensate oil production Oct 2024 What happened to peak oil after conventional crude oil started to peak in 2005 at 74 mb/d? Here is a graph…
Category: Crude oil analysis
Will the world ever reach peak crude production of November 2018 again? (part 1)
According to EIA data global crude & condensate production peaked in November 2018 at 84.5 mb/d. The peak was short-lived: 2 months above 83 mb/d plus 3 months above 84 mb/d while…
World crude production outside US and Iraq is flat since 2005
In the year 2005, the global crude production curve shows a definitive kink, going horizontal for several years. This caused the 2008 oil price shock and the following financial crisis which permanently…
What happened to crude oil production after the first peak in 2005?
The IEA (in Paris) proudly announced in its latest September 2018 Monthly Oil Market Report that global supplies (of liquids) have reached 100 mb/d in August, an impressive figure. What matters, however,…
Australian public broadcaster a true believer in US shale oil supremacy
In yesterday’s 7 pm news ABC TV business presenter Alan Kohler got carried away with the news that the US drilling rig count increased by 2 rigs in the last week: Fig…
Incremental crude production update August 2016
OPEC Fig 1: OPEC’s incremental crude oil production Incremental production for each country is the production above the minimum production for the period Jan 2000 – May 2016 (the latest data available…
World outside US and Canada doesn’t produce more crude oil than in 2005
After a delay of several months the US Energy Information Administration has published the latest international energy statistics for October 2015 This is an opportunity to update crude oil graphs http://crudeoilpeak.info/latest-graphs Fig…
Where actually is that much-hyped global oil glut?
The media is full with news that there is a global oil glut. There are now more than 3bn barrels of excess oil in the world 13/11/2015 http://www.telegraph.co.uk/finance/oilprices/11993687/There-are-now-more-than-3bn-barrels-of-excess-oil-in-the-world.html Record oil glut stands…
US shale oil too expensive, peaks 1H 2015
According to EIA data, monthly US crude oil production peaked in April 2015 at 9.6 mb/d. Fig 1: US crude oil production to June 2015 http://www.eia.gov/dnav/pet/pet_crd_crpdn_adc_mbblpd_m.htm The above graph shows that US…
IEA report: US shale oil growth practically zero in 2017
The International Energy Agency’s Medium Term Oil Market Report 2015 included an interesting graph showing changes in US and Russian oil production for the next 5 years: IEA MTOMR February 2015 Fig…