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,…
Category: United States
US crude oil imports and exports update April 2018 data
Contrary to common assumptions that the US is on the cusp of energy independence US crude oil imports averaged 7.8 mb/d in the last 12 months. 3.5 mb/d came from neighboring Canada, a…
Saudi Arabia was supposed to pump almost 14 mb/d in 2018
Here we go again. Another US President asks Saudi Arabia to pump more oil, despite the so-called US shale oil revolution. Fig 1: Is a tweet enough to make Saudi Arabia open…
Shale gas revolution did not last long for BHP – the Fayetteville story
http://www.naturalgasintel.com/topics/101-fayetteville-shale We had these headlines a couple of months ago: BHP’s $50 billion shale oil blunder 23/8/2017 BHP slapped $US4.75 billion ($6 billion) down on the table to buy the rights from…
South Korea’s oil trade under threat
In 2010 the China Sign Post blog published an article entitled “Playing with fire. Potential impact of a North Korean threat to South Korean oil refineries”, showing following map: Fig 1: Range…
U.S. Storage Filling Up with Unaccounted-For Oil
This is a joint post with Art Berman, a geological consultant based in Houston, Texas, and may be seen also on his website http://www.artberman.com/ U.S. crude oil storage is filling up with unaccounted-for…
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…
China’s oil peak 45 years after the US peak
Fig 1: Oil crisis in China like in 2005? No. By order: Free roads for G20 in Hangzhou https://www.theguardian.com/world/2016/aug/31/china-hangzhou-propaganda-facelift-g20-summit Strategically published only days before the G20 summit the Wall Street Journal had…
US shale oil peak in 2015
The recent EIA drilling productivity reports show a peaking of shale oil production in the main production regions. https://www.eia.gov/petroleum/drilling/ Fig 1: Bakken production change from old/new wells The 1st panel shows that…
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 https://crudeoilpeak.info/latest-graphs Fig…