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Crude oil analysis Archive
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Will the world ever reach peak crude production of November 2018 again? (part 1)
Posted on May 3, 2022 | No CommentsAccording 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 […] -
World crude production outside US and Iraq is flat since 2005
Posted on June 10, 2019 | No CommentsIn 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 […] -
What happened to crude oil production after the first peak in 2005?
Posted on September 18, 2018 | No CommentsThe 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 […] -
Australian public broadcaster a true believer in US shale oil supremacy
Posted on September 27, 2016 | No CommentsIn 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 […] -
Incremental crude production update August 2016
Posted on September 11, 2016 | No CommentsOPEC 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 […] -
World outside US and Canada doesn’t produce more crude oil than in 2005
Posted on February 14, 2016 | No CommentsAfter 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 […] -
Where actually is that much-hyped global oil glut?
Posted on December 29, 2015 | No CommentsThe 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 […] -
US shale oil too expensive, peaks 1H 2015
Posted on September 30, 2015 | No CommentsAccording 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 […] -
IEA report: US shale oil growth practically zero in 2017
Posted on March 3, 2015 | No CommentsThe 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 […] -
Free oil! Next stop free oil crunch
Posted on February 15, 2015 | No CommentsBuy 1 barrel of oil for $100, get one barrel free!That makes $50 a barrel. Looks like a sale. Hurry before it ends. Spare a thought for the poor oil […]