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The U.S. Is The World’s Top Oil Producer, But For How Long?

The U.S. Is The World’s Top Oil Producer, But For How Long? The U.S. Energy Information Administration (EIA) said on Tuesday that the U.S. likely surpassed Saudi Arabia and Russia earlier this year to become the world’s top crude oil producer. The EIA based its disclosure on preliminary estimates in its Short-Term Energy Outlook which […]

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EIA’s Latest USA & World Oil Production Data

EIA’s Latest USA & World Oil Production Data These first charts are taken from the EIA’s Monthly Crude Oil and Natural Gas Production. The data are through June 2018 and is in thousand barrels per day. US C+C production was up 231,000 barrels per day in June to 10,674,000 bpd, an all-time high. Texas was […]

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The “Weakest” EIA Report In Years

The “Weakest” EIA Report In Years The EIA just published one of the “weakest” weekly oil reports in years, which suggests troubled waters ahead for the global oil market. The timing of the report is not ideal, coming amidst a currency crisis in Turkey, which has raised fears of financial contagion in other emerging markets. […]

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The Productivity Problem In The Permian

The Productivity Problem In The Permian The multi-year campaign to boost efficiency and productivity in the U.S. shale patch could be nearing its limits. Output in the Permian basin is already starting to slowdown, largely due to pipeline constraints. However, there is also a series of other data points that suggests that shale drillers are […]

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The U.S. Oil Production “Mirage”

The U.S. Oil Production “Mirage” Some of the surge in U.S. oil production this past spring might have been “a mirage.” On July 31, the EIA released monthly data on U.S. oil production, which revealed a decline in U.S. output of 30,000 bpd in May, compared to a month earlier. The dip is a surprise, […]

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Top U.S. Shale Oil Fields Decline Rate Reaches New Record…. Half Million Barrels Per Day

Top U.S. Shale Oil Fields Decline Rate Reaches New Record…. Half Million Barrels Per Day While the U.S. reached a new record of 11 million barrels of oil production per day last week, the top five shale oil fields also suffered the highest monthly decline rate ever.  This is bad news for the U.S. shale […]

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Why The Coming Oil Crunch Will Shock The World

Anton Balazh/Shutterstock Why The Coming Oil Crunch Will Shock The World And why we need a new energy strategy — fast. My years working in corporate strategy taught me that every strategic framework, no matter how complex (some I worked on were hundreds of pages long), boils down to just two things: Where do you […]

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USA and World Oil Production

USA and World Oil Production All data below is from various sources. All US data is from the EIA. Unless otherwise noted is in thousand barrels per day. US C+C production through April, 2018. For the last 8 months, the average increase in US production has been 168,000 bpd. Most of this has come from […]

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What Patient Zero, Japan, Can Tell Us About China & The Developed World At Large

What Patient Zero, Japan, Can Tell Us About China & The Developed World At Large To see the future, sometimes you have to look to the past.  Japan is patient zero in the global epidemic of slowing growth and although Japan was assumed to be the emerging world power in the ’80’s, we now know better.  The title […]

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US Light Tight Oil (LTO) Update

US Light Tight Oil (LTO) Update I have updated my scenarios for US LTO output, based on both EIA tight oil output data and average well profile data from Enno Peters’ shaleprofile.com. I have also created a scenario for the Niobrara shale oil play and for “other US LTO” which excludes the Permian Basin LTO, […]

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Why oil prices can’t rise very high, for very long

Why oil prices can’t rise very high, for very long Oil prices are now as high as they have been for three years. At this writing, Brent is $74.14 per barrel and West Texas Intermediate is at $68.76. These prices aren’t really very high, if a person looks at the situation from a longer term point […]

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Oil Prices Fall As EIA Confirms Inventory Build

Oil Prices Fall As EIA Confirms Inventory Build After a surprise 5.32-million-barrel inventory build reported by the American Petroleum Institute (API) weighed on oil prices yesterday, the Energy Information Administration (EIA) is reportinga build of 1.6 million barrels for the week ending March 23. The markets, which have not had a chance to react to […]

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United States as energy exporter: Is it “fake news”?

United States as energy exporter: Is it “fake news”? Much of the media coverage of the American energy industry implies that America has become a vast and growing exporter of energy to the rest of the world and that this has created a sort of “energy dominance” for the country on the world stage. Whether […]

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EIA USA Reserve Estimates

EIA USA Reserve Estimates EIA reserve estimates for USA for 2016 have been issued (a couple of months later than usual). The numbers they provide are ‘proven’ reserves of crude, condensate and natural gas. The data is provided directly by the E&Ps with some adjustments made by EIA for missing numbers. The data show reserves […]

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LNG comes to Boston, a harbinger of the future?

LNG comes to Boston, a harbinger of the future? The most curious natural gas story of the year so far comes out of Boston and seems to have echoes of a deepening Russia-related scandal in Washington. A liquefied natural gas (LNG) tanker bearing natural gas produced in part in Russia delivered its cargo to the […]

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Olduvai IV: Courage
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Olduvai II: Exodus
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