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Peak Oil Is Back

Peak Oil Is Back Where did all the oil go? The peak is back An extensive new scientific analysis published in Wiley Interdisciplinary Reviews: Energy & Environment says that proved conventional oil reserves as detailed in industry sources are likely “overstated” by half. According to standard sources like the Oil & Gas Journal, BP’s Annual Statistical Review […]

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OPEC Update

OPEC Update All charts are updated through March 2016 The latest OPEC Monthly Oil Market Report is out out. The charts are “Crude Only”production and do not reflect condensate production. Also the charts, except for Libya, are not zero based. I chose to amplify the change rather than the total. OPEC is now 13 nations with the the […]

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OPEC Declines in February Despite Huge Iran Increase

OPEC Declines in February Despite Huge Iran Increase All charts are through February 2016 The OPEC Monthly Oil Market Report just came out. The charts are “Crude Only”production and do not reflect condensate production. Also the charts, except for Libya, are not zero based. I chose to amplify the change rather than the total. OPEC is now 13 […]

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International Rig Count Still Falling

International Rig Count Still Falling The Baker Hughes International Rig Count is out. The rig count data in all charts below is through February 2016. The Baker Hughes International Rig Count does not include the US, Canada, any of the FSU countries or inland China. It does include offshore China. That rig count peaked in July 2014 at […]

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US Oil Rig Count Points To A Sharp Decline In Production

US Oil Rig Count Points To A Sharp Decline In Production The North American Baker Hughes Rig Count came out Friday. The decline continues. Baker Hughes gives an oil and gas breakout for every basin and state with five years of historical data. Baker Hughes has twenty eight and one half years of historical data for total […]

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Oil Price And Its Effect On Production

February 26, 2016

Oil Price And Its Effect On Production The JODI Oil World Database came out a few days ago. The data is through December 2015. The JODI C+C production numbers differs somewhat from the EIA numbers. The JODI OPEC numbers are crude. Also there are a few very small producers that do not report to JODI so their […]

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Oil Price And Its Effect On Production

February 25, 2016

Oil Price And Its Effect On Production The JODI Oil World Database came out a few days ago. The data is through December 2015. The JODI C+C production numbers differs somewhat from the EIA numbers. The JODI OPEC numbers are crude. Also there are a few very small producers that do not report to JODI so their […]

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Bakken December Data, Big Decline

February 18, 2016

Bakken December Data, Big Decline The Bakken and North Dakota tight oil production data is out. Bakken production was down 28,604 barrels per day to 1,096,044 bpd. All North Dakota was down 29,506 bpd to 1,152,280 bpd. This is just the last two years of the chart above. It gives a slightly better look at what is happening. Barrels […]

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Just How Accurate Are The EIA’s Predictions?

February 14, 2016

Just How Accurate Are The EIA’s Predictions? The EIA recently published the February edition of their Short-Term Energy Outlook. If you follow this month to month, and I do, you will notice their prognostications change a little every month. And over several months those small changes can add up to some rather dramatic changes. Nevertheless, below […]

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OPEC January Production

February 11, 2016

OPEC January Production The latest OPEC Monthly Oil Market Report is just out. The the data is “Crude Only”production and do not reflect condensate production. Also the charts, except for Libya, are not zero based. I chose to amplify the change rather than the total. The chats do not include Indonesia. That will be added within the next few months […]

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Oil Production Is Going To Drop And Oil Prices Are Likely To Increase

February 8, 2016

Oil Production Is Going To Drop And Oil Prices Are Likely To Increase Rystad Energy, an independent oil and gas consulting services and business intelligence data firm in Oslo, Norway, has online, a wealth of information concerning upstream oil production projects and costs. Some of it is a bit dated but some of their charts date […]

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The IEA’s Oil Production Predictions for 2016

February 4, 2016

The IEA’s Oil Production Predictions for 2016 The IEA Oil Market Report, full issue, is now available to the public. Some interesting observations: Non-OPEC oil supplies are nevertheless seen sharply lower in December. Overall supplies are estimated to have slipped by more than 0.6 mb/d from the month prior, to 57.4 mb/d. A seasonal decline in […]

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Collapse Of Shale Gas Production Has Begun

January 31, 2016

Collapse Of Shale Gas Production Has Begun This is a guest post by Steve St. Angelo of SRSroccoReport.Com. All opinions expressed in this post are his and do not necessarily reflect those of Ron Patterson. The U.S. Empire is in serious trouble as the collapse of its domestic shale gas production has begun. This is […]

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A Closer Look at OPEC

January 24, 2016

A Closer Look at OPEC Taking a closer look at OPEC. All OPEC and price data below is through December. All production data is in thousand barrels per day. Iran and Libya have had serious political disruptions in their production numbers. Simply adding them to the OPEC numbers distorts the picture. To try to figure […]

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OPEC, except for Iran, Has Peaked

January 20, 2016

OPEC, except for Iran, Has Peaked The OPEC Monthly Oil Market Report is out. OPEC took a hit in December, down 205,000 barrels per day. After examining the past and present production numbers, I believe that OPEC, except Iran, has peaked. That is, the combined production from all the other OPEC nations, has peaked. And any additional production […]

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