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EIA’s Annual Energy Outlook and the Seneca Cliff
EIA’s Annual Energy Outlook and the Seneca Cliff The scenario above shows an Oil Shock Model with a URR of 3600 Gb and EIA data from 1970 to 2015 and the Annual Energy Outlook (AEO) 2016 early release reference projection from 2016 to 2040. The oil shock model was originally developed by Webhubbletelescope and presented […]
Australian Public Broadcaster ABC unable to look at oil statistics
Australian Public Broadcaster ABC unable to look at oil statistics Four times in as many months did ABC publish inaccurate statements about US shale oil. A glut of mis-information. This is unacceptable because it leads to wrong policy decisions and has ultimately damaging economic and financial consequences. (1) “US shale producers pump like never before” Just in […]
Oil Production Vital Statistics March 2016
Oil Production Vital Statistics March 2016 Since the possible double bottom at $26 formed on February 11th the oil price has staged a rally to $40 (WTI). Traders lucky enough to buy at $26 and sell at $40 have pocketed a tidy 54% profit. Very few will have been this lucky. The trade was stimulated […]
Advantage U.S. In The Global Petroleum Showdown?
Advantage U.S. In The Global Petroleum Showdown? Is the crude stock data in the EIA’s Weekly Petroleum Status Report (Table 1 in the report) a useful tool for judging the prospects for the U.S. petroleum industry— and therefore for the global petroleum industry—or is it misleading? With few interruptions, U.S. crude stocks increased steadily during 2015 and […]
Is The EIA Too Optimistic On U.S. Oil Output?
Is The EIA Too Optimistic On U.S. Oil Output? After following the weekly production statistics avidly for some months and initially being smugly pleased by the data saying exactly what I wanted to hear, I then became completely befuddled by the data saying the opposite. I had almost reached the conclusion that the weekly production […]
Oil Companies Running Out Of Options
Oil Companies Running Out Of Options The financial pressure on indebted oil and gas companies continues to mount, putting them in a bind as they try to mend their deteriorating balance sheets. As their debt rises, drillers have had to divert more of their operating cash flow to servicing that debt. Or, put another way, […]
EIA Data Still Doesn’t Add Up
EIA Data Still Doesn’t Add Up As initially pointed out by Peakoilbarrel.com in a recent article, discrepancies between actual data for oil production in Texas vs. what the EIA claims are so stark it’s almost scary. How this can be overlooked by the mainstream media as well as by most of the broker community is even […]
U.S. Oil Glut An EIA Invention?
U.S. Oil Glut An EIA Invention? In the latest weekly production data from the EIA, on the back of recent March revisions, the U.S. managed to post a 76,000 barrel per day increase in the lower 48. Production from Alaska fell by 61,000 barrels per day, putting overall U.S. output 15,000 barrels per day higher for the […]
New International Energy Statistics.
New International Energy Statistics. The Eia has finally updated their International Energy Statistics with data through February 2015. All data in the charts below are Crude + Condensate and is in thousand barrels per day with the last data point February 2015. World C+C dropped 477,000 bpd in January and another 65,000 bpd in February for a total decline of […]
Why A U.S Shale Slowdown Will Hardly Effect Oil Prices
Why A U.S Shale Slowdown Will Hardly Effect Oil Prices Just last week I wrote on the possibility of a renewed downturn in oil prices, owing to the fact that huge volumes of supplies could potentially come online in places like Iraq, Libya, and Iran. That is still the case. But let’s look at the other side […]
Texas Oil and Gas Production for April
Texas Oil and Gas Production for April The preliminary Texas RRC Production Data is out this morning. There appears to be a considerable drop in Texas crude oil production in April. All Texas RRC data in the charts below is through April 2015 and all EIA data is through March 2015. For those new to this site, the Texas […]
U.S. Oil Glut Story Grossly Exaggerated
U.S. Oil Glut Story Grossly Exaggerated Recently, I have noticed that oil storage & production data (and media hype for that matter) has disconnected from hard data. This has been occurring for many quarters now with the US economy statistics as well and appears to be the new world order where facts can be spun […]
